The South Australian Government Inscribed Stock for Friendly Societies Act 1912 (SA)

GEORGII V REGIS.

No. 1091.

An Act to provide for the Creation of a Special Stock, to be called " South Australian Government Inscribed Stock for Friendly Societies," for Sale to Friendly Societies only, and for other purposes.

[Assented to, December 12t4 1912.1

E it Enacted by the Governor of the State of South Australia,

follows: B with the advice and consent of the Parliament thereof, as

1, This Act may be cited as " The South Australian Government short title.

Inscribed Stock for Friendly Societies Act, 1912."

2. In this Act, unless inconsistent with the context or subjecb Interpretation.

matter or some other meaning is clearly intended,-

" Friendly Society " or " Society " means-

(a) Any of the Friendly Societies mentioned in Schedule A

to The Friendly Societierr Act, 1886 "; l

(b) Any of the Friendly Societies mentioned in the Schedule

to " The Friendly Societies Amendment Act, 1908 "; NO. 962 of 1908.

(c) The Independent Order of Oddfellows ~ ~ n c h e s t e r Unity

Friendly Society refened to in G The Manchester Uuity

of Oddfellows Act, l874 "; or

(d) Any of the Friendly Societies from time to time estab- lished or enrolled under the Act No. 22 of 1852, intituled " An Act to regulate Friendly Societies ":

Friendly Societies Acts " includes the Acts before mentioned in

this section, and all Acts amending any of those Acts:

A--1091 Prescribed "

2 3' GEORGII V, No. 1091.

The South Aecstrdh a - Imcm'becd Smk fw PTkbdly

S d k Ad.-1912.

Prescribed " means prescribed by this Act or by regulations

made under this Act:

'' Treasurer " means the Treasurer of the State of South Australia or the Minister of the Crown for the time being performing the functions of such Treasurer:

This Act " includes regulations made under this Act.

Creation and .Sale of Stock.

Stock created. 3. One apecial capital or joint stock, to be called and known

Tic. ~ c t 2308, 1910, as

S. 3. South Australian Government Inscribed Stock for Friendly Societies," is hereby created, and the nominal amount thereof, until otherwise provided by Parliament, shall be Five Hundred Thousand Pounds.

stock to be d a. 4, The Treasurer shall, in manner prescribed and subject to any

Ibid., S. 4.	prescribed conditions, cause the said stock to be sold to Friendly Societies, and not otherwise, for ready money, in such parcels or amounts as Friendly Societies from time to time require.
Stock to be sold

at par. 5, All stock sold to any Friendly Society under this Act shall

Ibid., 8. 6. be sold a t par.

ment security for 8t~~ktobeauovern- 6, The said stock shall be deemed to be South Australian

Friendly societim9 Government bonds within the meaning of section 20 of '' The	investment S.	Friendly Societies Amendment Act, 1892.''
Ibid. S. 6.
No. 668 of 1892.

The moneys t o be produced by the sale of the said stock shall be paid to the Treasurer, and shall be placed to the credit of an account to be kept in the Treasury for such purpose to be called "The Friendly Societies' Stock Account."

7.

Disposal of Price.

Ibid., S. 7.

A pmpristion thereof 8, The said moneys shall, subject to the provisions of this Act,

,g,,,.

be applied for the public purposes mentioned in the Schedule

Ibid., 8.

to this Act, or for such public pnrposes as are from time to time

authorised by resolu tion of both Houses of Parliament.

Annual accounts to

Q, The Treasurer shall, in every year during which any part of cause to be prepared an account of the moneys raised under this Act, and of the amount of stock issued in respect of the money so raised, and of the said moneys which have been applied as aforesaid.

be prepvred.

the said moneys remains unapplied, as provided by section 8,

Ibid., 8. 9.

N a m e s o f p m h h g	10.	(1) In the office of the Treasurer there shall be provided and
Bocietieu to be

entered in books.	kept a book, to be called the " Friendly Societies' Stock Ledger," in
Ibid., S. 10.	which there shall be entered the names or titles of the societies which purchase the said stock, and the amount of stock purchased by them respectively, and such (if any) other matters and particu- lars as the Treasurer directs; and any trustee, treasurer, secretary, or member of any such society shall, on payment of a fee of one shilling, be at liberty at all reasonable times to inspect the same; and all such books shall be examined a t least once in every year by
the Commissioner of Audit. (2) When

3 O GEORGII V, No. I ~ I.

The Sozsth Australian Govern- I'p26m'bed Stuck for Friend&

Societies Ad.--1912.

(2) When any Society changes its name the Treasurer, on receipt of a notice in writing signed by the treasurer and the secretary and one or more of the trustees of the Socjety, or by such other officers as the Treasurer deems sufficient, setting out the name of the n.me-of

. Society as so changed, may cause the name of the Society to be altered in the Friendly Societies' Stock Ledger accordingly; but this section shall not be deemed to give to any Society any right to change its name which it would not otherwise have had.

(3) Any Society whose name is entered in the Friendly Societies' Stock Ledger as the purchaser or transferee of any of the said stock shall be deemed to be the proprietor or owner of such stock and of any interest thereon within the meaning of this Act.

Interest.

11, Interest at the rate of Four Pounds per centum per annum Interest on etock.

shall be payable on the said stock, and such interest shall be paid Ibid.,	11.
half-yearly on the fifteenth day of June and the fifteenth day of December in every year, and shall, until redemption thereof as pro- vided in this Act, be charged and chargeable upon and payable out of the General Revelme of South Australia, which is hereby, so far as may be necessary, appropriated for that purpose accordingly.

12. Interest payable to any Society may be paid in such manner ~ a n n e r of fpgyment

of interest.

as is prescribed. Ibid., s. 12.

Redem~t ion o f Stock.

1

Stock to be redeemed

13. All stock redeemed under this Act shall be redeemed at par.

at

Ibid., a. 13.

14. (1) On the happening of any of the following events any Redemptionon the

stock under this Act of which any Society affected by such event is :,","gnin&~k;z

the registered proprietor may be redeemed-

constitution of the

Society.

( a ) If such Society transfers its engagements to another Society; Ibid., a. ll.

( b ) If such Society is converted into a company, or amalgamates

with or transfers its engagements to a company;

(c) If such Society is converted into a branch of a Society;

( d ) If	any two or more such Societies become amalgamated as one Society, with or without any dissolution or division of the funds of such Societies or any of them;
( e ) If	such Society terminates or is dissolved;
( f ) If	such Society ceases to be a Friendly Society;

(g) If the trustees of any branch of a Society pay and make over all the property of such branch to the trustees of the Society by reason of the branch breaking up, or becoming unable to meet its liabilities, or severing its connection with the Society.

(2) Where any stock is to be redeemed under this section the Power to redeem by

same may, if the Treasurer so directs, be redeemed in euch amounts -.	inetaIments in such
and a t such intervals, during a period of twdve months, as the Treasurer orders. 16, Where

36 GEORGII V, No. rogt.

Where money L

required for purposes 16, Where any Society, being registered under this Act as the

of Society.	proprietor of any stock, requires any money for any of the objects
Ibid., a. 16 (2).	mentioned in section 1 of the Act No. 22 of 1852, section 4 of The Manchester Unity of Oddfellows Act, 1874, or section 4 of
The Friendly Societies Act, 1886 (but not for the purpose of re-
investment), such Society may make application to the Treasurer for the redemption of go much of such stock as may be necessary to provide the moneys so required; and such amount of stock shall be redeemable after the expiration of four days from the receipt of the application by the Treasurer.
Application for

redemptiom. 16. Applications fbr the redemption of any stock under section

Ibid., a. 16 (3). 14 or 15-

(a) Shall be made in the prescribed form;

(b) Shall be accompanied by a statutory declaration of the facts

made by the person or persons making the application;

and

(c) Shall be supported by such other evidence as the Treasurer

requires.

Mode and time of 17, All or any of the stock issued pursuant to this Act, which

redemption.	has not been otherwise redeemed as provided in this Act, may be
Ibid., a. 16.	redeemed at any time after the thirty-first day of May, nineteen hundred and thirty-two, if Parliament provides funds for the purpose,-

(a) After twelve months' previous notice of intention to redeem such stock has been given by writing signed by the Treasurer, and published in the Government Gazette and also in two daily newspapers published in Adelaide; or

(b) After twelve months' notice in writing has been given to the

Treasurer by any Society which is the owner of any such

stock for the redemption of the whole or part of the stock

of which it is the owner.

Intereat not payable

on stock when funds 18. After the date on which funds are made available for the

for redemption	redemption of any stock under this Act no interest shall accrue
available.	thereon.

Ibid., a. 17.	Transfer of	Stock.
No atock to be

transferred except aa 19, (1) Save as provided in this section no stock under this

provided in this	Act or any share therein shall be translerable.
section.
Ibid., a. 19.	(2) Where on the happening of any of the events specified in section 14, the property of any Society is, pursuant to the Friendly
Power to transfer
stock to Societyto	Societies Acts, transferred to any other Society, the Treasurer may, in his absolute discretion, direct that, in lieu of the redemption of
another

which property Society Of is

transferred.

any such stock, the same shall be transferred to the last-mentioned

Society.

Mandate for tmafer a(), When any stock is to be so traneferred from any Society to

of stock.

any other Soeiety a written mandate to that effect, in the prescribed

form,

3' GEORGII V, No. I ~ I. i 6

form, shall be made and delivered to the Treasurer, setting forth Ibid., 0.20.

the amount of the stock and the name or title of each of the

Societies concerned.

(hereinafter called the " Transfer Book ")wherein Jl transfers as transferring. 31. (1) There shall be kept in the office of the Treasurer a book Method of

aforesaid of the mid stock or any part thereof shall be entered and Ibid.. B. 21.

registered; and the entries shall be numbered in regular arithmetical

progression, beginning at the commencement of each year with a

unit.

(2) Every transfer shall be in the prescribed form.

(3) Every transfer shall be noted by the Commissioner of Audit.

shall cause a memorandum of transfer, in the prescribed form, to be of receipt on transfer. 22. Upon the transfer of any of the said stock the Treasurer Memorandum instead

handed to the transferee. Ibid., B. 22.

23. As won as possible after the registration of a mandate for Debit and credit

transfer, the amount of stock txansferred shall be debited in the ,,,,,, ,, entries to be made on

proper account in the Friendly Societies' Stock Ledger, and shall be sion and bmh and inetructions mm-

prd-

forthwith credited in the same ledger to the account of the Society that all the business transacted on that day has been duly and properly entered and recorded.

to which it has been so transferred; and the Treasurer shall cause ,bid.,

the said Friendly Societies' Stock Ledger to be compared with the

24. No redempt.ion or transfer of the said stock or of any part When trander books to be c l o d and

thereof shall be made within the period of seven days next before ,,, ba,,c,.

either of the days on which the interest thereon is payable under Ibid.,	Z4,
this Act; and during the said period8 respectively the Treasurer shall cause the amount of the a i d stock respectively standing to the
credit of the several owners thereof to be ascertained, and the balance to be struck and carried forward in the Friendly Societies'	Stock Ledger.

Miscel l ~ n e w s.

25. Save as otherwise expressly prescribed, all transactions with Eg,"iy$zz

the Treasurer under this Act shall be carried out on behalf of any to be oarrid O U ~ bv

Society by auch persona (not exceeding three), being trustees of thk ~ ~ ; . a ~ ~ ~ n ~

governing body of the Society, a@ the Sooiety from time to time

appoints as its representatives; and when any such appointment is Ibid., 8. 26.

made it shall be the duty of the secretary of the Society forthwith

to give notice in writing to the Treasurer setting forth the name in Notice.

full and the occupation and address of every person so appointed;

and such notice shall be countersigned by every person M, appointed.

26, The Treasurer shall cause to be printed and kept at the Treaaunn toeupply

Treasury in Adelaide a sufficient supply of the seversl prescribed fOma- forme, and no forms other than those eo printed shall be uaed for Ib3.18- 27-

the wnmoses of this Act e x c e ~ t with the a ~ ~ r n v r t l af the Treasurer.

6 3' GEORGII V, No. I ~ I.

The South Australian Governmerzt Inscribed Stock: for Friendly

Societies Act.-1912.

Rwipt registered 2 7. The Treasurer shall not be bound to see to the execution oi

etookholdm to

diwhhargrge dthout	any trust, whether express implied or constructive, to which any
m* "	part of the eaid stock may be subject, and a receipt purporting to
Ibid., 0. 28.	be signed in the prescribed manner on behalf of any Society in whose name the said part stands in the Friendly Societies' Stock Ledger shall, from time to time, be a sufficient discharge to the Treasurer for any interest payable in respect of such part, notwith- standing any trusts to which such part may then be subject, and whether or not the Treasurer has had notice uf such trusts; and the Treasurer shall not be bound to see to the application of the money paid upon such receipt.
dotions against
Treasurer.	28. (1) No action or suit shall be brought or maintained against any person who is or has been Tremurer for any non-feasance or misfeasance in connection with the duties imposed on him by this Act, but for any such nonfeasance or misfeasance an action may be brought and maintained in the Supreme Court, but not in any other Court, against "the Treasurer for the time being of South Australia" without mentioning any Christian name or surname, and the wrong
Ibid., 8. 29.
complained of may be alleged as the act of " the defendant."
(2) In all cases where the plaintiff in any such action is entitled to recover, the Court shall give judgment that the plaintiff " do recover out of such part of the General Revenue as may be appro- priated by Parliament for that purpose," the damages assessed and his coats of suit, and no other judgment whatsoever shall be awarded to the plaintiff by the said Court.
(3) In every such action the defendant, if he obtains judgment upon verdict or otherwise, shall in all cases be entitled to his full costs in that behalf; and the defendant may be described in all writs of execution and other process in the manner and by the title aforesaid only.

Ofences and Penalties.

transfer oi

23%., a td0ny. 29. Auy person who, with intent to defraud-

Ibid., e. 30.	(a) Forges or alters, or offers, utters, disposes of, or puts off, or attempts to utter, dispose of, or put off, knowing the same to be forged or altered, any mandate for transfer or application for redemption of any share or interest of or in any stock which may be transferable or redeemable under this Act at the office of the Treasurer; or
( b ) Forges or alters, or offers, utters, disposes of, or puts off, or attempts to utter, dispose of, or put off, knowing the same to be forged or altered, any authority to transfer or xedeem any share or interest of or in any such stock, or to receive any interest or money payable in respect

of any such ehare or interest; or

(C) Demands

3' GEORGII V, No. I ~ I.

-- -

The South Australian Go2,ern .m InsmzM Stock #or PWZy

Societies Act.-1912.

(c) Demands or endeavours to have any such share or interest transferred or redeemed, or to receive any interest or money payable in respect thereof, by virtue of any such forged or altered authority, knowing the same to be forged or altered,

shall be guilty of a felony, and shall on conviction be liable to be

imprisoned for any term not exceeding fifteen years.

30, Any person who falsely and deceitfully personates any Personatingpersons

person authorised to act under this Act on behalf of any Society acting on behalf of sacieties.

which is the owner of any share or interest of or in any stock which Ibid., a. 31.

may be transferable under this Act a t the office of the Treasurer, or which is the owner of any interest or money payable in respect of any such share or interest as aforesaid, and thereby transfers or demands or endeavours to transfer or redeem any share or interest belonging to any such owner, or thereby demands, receives, or en- deavours to receive any money due to any such owner, shall be guilty

of a felony, and shall on conviction be liable to be imprisoned for any

term not exceeding fifteen years.

31. Any person who-

(a) Forges any name. handwriting, or signature purporting to F o r e % attehtion

to authority for tram -

be the name, handwriting, or signature of a witness fer of	tc.
attesting the execution of any authority to transfer or redeem any share or interest of or in any such stock as mentioned in section 29 or 311, or to receive any interest or money payable in respect of any such share or interest or,

(b) Offers, utters, or disposes of, or puts off, or attempts to utter, dispose of, or put off, any such authority with any such forged name, handwriting, or signature thereon, knowing

the same to be forged,

shall be guilty of a felony, and shall on conviction be liable to be

imprisoned for any term not exceeding five years.

32, Any person who, with intent to defraud,-	Making
in Treasurer'e booka,

f a h entries

(a) Wilfully makes any false entry in, or wilfully alters any word or figure in, any of the books kept by the Treasurer, in which books the accounts of the owners of any stock under this Act are entered and kept, or	Ibid., a. 33.
(b) I n any manner wilfully falsifies any of the accounts of any

of such owners in any of the said books, or

(c) Wilfully makes any transfer or redemption of any share or interest of or in any such stock in the name of any Society which is not the true and lawful owner of such share or interest,

shall be guilty of a felony, and shall on conviction be liable to be imprisoned for any term not exceeding fifteen years. 33. Any

3 O GEORGIl V, No. 1-1.

The South Aust~talian G~OWVMIMW Imcl.ibed Stock for P W l y

Societies Act.--1912.

Making	out false	33. Any person who, being a clerk, officer, or servant of, or other
ink&	w(vr(~1ts.

person employed or entrusted by, His Majesty, knowingly, and with

Ibid.. e. 34.

intent to defraud, makes out or delivers any interest or money payable under this Act, or any cheque, or warrant for pay- ment of any interest or money payable under this Act, for a greater or leas amount than the Society on whose behalf such warrant is made out is entitled to, shall be guilty of a felony, and shall on conviction be liable to be imprisoned for any term not exceeding eeven years.

Regulations.

Regulatiome. 34. (1) The Governor may make, alter, or repeal all such regu-

Ibid., r. 36.	lations as may be necessary or convenient for the purpose of	giving
effect to this k c t or carrying out its objects.

(2) All regulations so made--

(a) Shdl be published in the Government Gazette ;

Publication.	(b) From the date of such publication, or from a later date specsed therein, shall, subject to subsection (3) hereof, have effect ae if enacted in this Act; and
(c) Shall be laid before both Houses of Parliament within four- teen days after publication, if Parliament is in Session, and if not, then within fourteen days after the com- mencement of the next Session of Parliament.

Disallowance by

Parliament.

(3) If either House of Parliament passes a resolution disallow- ing any such regulation, of which resolution notice has been given at any time within fourteen sitting days of such House after such regulation has been laid before it, such regulation shall thereupon cease to have effect, but without affecting the validity or curing the invalidity of anything done, or of the omission of anything, in the meantime.

This subsection shall apply not withstanding that the said four teen sitting days, or some of them, do not occur in the same Session or Parliament as that in which the regulation is laid before such House.

In the name and on behalf of His Majesty, I hereby assent to

this Bill.

DAY H. BOSANQUET, Governor.

SCHEDULE

3" GEORGII V, No. 1091.

The South Australian Governnmt Inscribed Stock /or E'riendly

Societies Act.--1912.

SCHEDULE.

For the construction of such Railways as are authorised by Act of Parliament and for works and conveniences connected therewith, and for such works on existing lines of Railway as are authorised by . Parliament.

- -p--

Adelaide : By authority, R. E. E Roo~as, Government Printer, North Terrace.

B-1091