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

STATUTORY RULES.

1919. No. 8.

 

REGULATIONS UNDER THE WAR PRECAUTIONS ACT 1914–1916.

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 eighth day of January, 1919.

R. M. FERGUSON,

Governor General.

By His Excellency’s Command,

G. F. PEARCE,

Minister of State for Defence.

 

Amendment of War Precautions (Enemy Shareholders) Regulations 1916.

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

1. Regulation 5a of the War Precautions (Enemy Shareholders) Regulations is amended by inserting therein after the word “wife” the words “or widow.”

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

(a) by omitting sub-regulation (3) thereof;

(b) by inserting in sub-regulation (3a) thereof after the words “direct that” the words “the whole or any portion of”;

(c) by inserting in sub-regulation (3a) thereof after the words “be paid” the words “by the Public Trustee—

(a) to the person by or from whom the shares were transferred,”;

and

(d) by omitting the letters “(a), (b), (c), (d)” preceding the respective paragraphs thereof and inserting in their stead the letters “(b), (c), (d), (e).”

3. Regulation 11aa of the War Precautions (Enemy Shareholders) Regulations is amended by omitting sub-regulation (2) thereof.

C.19810.—Price 3d.

 

4. After regulation 11aa of the War Precautions (Enemy Shareholder) Regulations the following regulation is inserted:—

Payment of interest on moneys invested.

“11aaa. From the interest paid or payable to the Public Trustee upon moneys derived by him from the sale of shares transferred to 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 five per centum of the amount of interest so paid or payable, and the remainder 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 to him.”

5. Regulation 12 of the War Precautions (Enemy Shareholders) Regulations is amended by omitting sub-regulation (4) thereof and inserting the following sub-regulation in its stead:—

“(4) The Attorney-General may, if he thinks fit, direct that the whole or any portion of any dividends paid to the Public Trustee under any of the preceding sub-regulations of this regulation—

(a) be paid by the Public Trustee to the person by or from whom the shares were transferred for the purpose of providing a reasonable living allowance for that person and his dependants;

(b) be paid to the proper officer of the Commonwealth or a State in satisfaction of any tax due by the person by or from whom the shares were transferred;

(c) be paid to any person in satisfaction of a judgment obtained by him against the person by or from whom the shares were transferred;

(d) be paid to the Public Trustee or other officer of a State in whom is vested the estate of the person by or from whom the shares were transferred;

(e) be paid to the official assignee in bankruptcy of the estate of the person by or from whom the shares were transferred; or

(f) be applied by the Public Trustee in the purchase of other shares in the company in which the shares, upon which the dividends accrued, are held.”

 

Printed and Published for the Government of the Commonwealth of Australia by H. J. Green, Acting Government Printer for the State of Victoria.