War Precautions (Enemy Shareholders) Regulations 1916 (Amendment) (Cth)

STATUTORY RULES.

1919. No. 46.

 

REGULATIONS UNDER THE WAR PRECAUTIONS ACT 1914-1918.

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the War Precautions Act 1914-1916 to come into operation forthwith.

Dated this fifth day of March, 1919.

R. M. FERGUSON,

Governor-General.

By His Excellency’s Command,

E. J. RUSSELL,

Acting Minister of State for Defence.

 

Amendment of the War Precautions (Enemy Shareholders) Regulations.

(Statutory Rules 1916, No. 38, as amended by Statutory Rules 1916, Nos. 42, 54, 62, and 325; Statutory Rules 1917, Nos. 101, 138, 194, and 229; Statutory Rules 1918, Nos. 74 and 147; and by Statutory Rules 1919, No. 8.)

1. Regulation 11 of the War Precautions (Enemy Shareholders) Regulations is amended—

(a) by inserting in sub-regulation (2) thereof, after the word “him” the words “or acquired by him in pursuance of regulation 11aa of these Regulations”;

(b)by inserting at the end of paragraph (b) of sub-regulation (3a) thereof the words “ or to any other person who has paid any tax on behalf of the person by or from whom the shares were transferred”;

(c) by omitting from paragraph (d) of sub-regulation (3a) thereof the word “or” (last occurring); and

(d) by inserting at the end of paragraph (e) of sub-regulation (3a) thereof the words:—

”, or

(f) to the proper officer of any municipality or other local authority in satisfaction of any rates and taxes due by the person by or from whom the shares were transferred”.

2. Regulation 11aa of the War Precautions (Enemy Shareholders) Regulations is repealed and the following regulation inserted in its stead:—

“11aa.—(1.) The Public Trustee may invest any moneys held by him in pursuance of these Regulations:—

(a) in securities of the Government of the Commonwealth of Australia;

 

(b) in securities of the Government of United Kingdom of Great Britain;

(c) by deposit on loan with the Commonwealth Bank of Australia; or

(d) in the purchase of any shares which a person whose shares have been transferred to the Public Trustee was entitled to purchase by reason of his previous ownership of the shares so transferred.

“(2.) Where any moneys, held by the Public Trustee in pursuance of these Regulations, are invested by him in securities of the Commonwealth, the securities shall be issued or inscribed in the name of the Public Trustee and interest arising from the securities shall be paid to the Public Trustee.”.

3. Regulation 11aaa of the War Precautions (Enemy Shareholders) Regulations is repealed and the following regulation inserted in its stead:—

Payment of interest on moneys invested.

“11aaa.—(1.) From the interest paid or payable to the Public Trustee upon moneys received by him in pursuance of these Regulations, and invested by him, the Public Trustee shall be entitled to retain towards the cost of investment of the moneys derived as aforesaid a fee equivalent to 5 per centum of the amount of interest so paid or payable:

Provided that fractional parts less than the moiety of the pound sterling shall be disregarded in the calculation of such fee.

“(2.) The remainder of the interest shall, unless the Attorney-General otherwise directs, be paid to or for the benefit of the person by or from whom the shares were transferred or on whose behalf they were acquired.”

4. Regulation 12 of the War Precautions (Enemy Shareholders) Regulations is amended—

(a) by inserting at the end of paragraph (b) of sub-regulation (4) thereof the words “or to any other person who has paid any tax on behalf of the person by or from whom the shares were transferred;” and

(b) by omitting paragraph (f) of sub-regulation (4) thereof and inserting in its stead the following paragraph:—

“(f) to the proper officer of any municipality or other local authority in satisfaction of any rates and taxes due by the person by or from whom the shares were transferred”.

 

Printed and Published for the Government of the Commonwealth of Australia by Albert J. Mullett, Government Printer for the State of Victoria.