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

STATUTORY RULES.

1916. No. 38.

 

PROVISIONAL REGULATIONS UNDER THE WAR PRECAUTIONS ACT 1914-1915.

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby certify that, on account of urgency, the following Regulations under the War Precautions Act 1914-1915 should come into immediate operation, and make the Regulations to come into operation forthwith as Provisional Regulations.

Dated this twenty-fourth day of March, 1916.

R. M. FERGUSON,

Governor-General.

By His Excellency’s Command,

G. F. PEARCE,

Minister of State for Defence.

War Precautions (Enemy Shareholders) Regulations.

Short title.

1. These Regulations may be cited as the War Precautions (Enemy Shareholders) Regulations 1916.

Definitions.

2.—(1) In these Regulations, unless the contrary intention appears—

“Company” means any company incorporated in the Commonwealth;

“Enemy subject” means a subject of a country with which the United Kingdom is at war;

“Naturalized person of enemy origin” means a person who, having been a subject of a country with which the United Kingdom is now at war, is a naturalized British subject by virtue of a certificate of naturalization issued, in any part of the British Dominions, to himself or his father or mother, or (in the case of a married woman) to her husband; and includes the wife of any such naturalized person;

“Public Trustee” means the Comptroller-General of Customs; and

“Shares” and “Shareholders” include shares and shareholders of a company upon any register kept outside Australia.

(2) Where, in the case of any person whose father was or is an enemy subject or a naturalized person of enemy origin, the Attorney-General declares that there is in his opinion good reason—

(a) to believe that that person is disloyal, or

(b) why these Regulations should apply to him,

that person shall for the purposes of these Regulations be deemed to be a naturalized person of enemy origin.

C.3843.—Price 3d

 

Delegation by public trustee.

3.—(1) The public trustee may, in relation to any particular matters or class of matters or to any particular State, part of the Commonwealth, or part of the British Dominions, by writing under his hand delegate all or any of his powers and functions under these Regulations (except this power of delegation) so that the delegated powers and functions may be exercised by the delegate with respect to the matters or class of matters or the State, part of the Commonwealth, or part of the British Dominions, specified in the instrument of delegation.

(2) Every delegation under this Regulation shall be revocable at will, and no delegation shall prevent the exercise of any power by the public trustee.

Enemy subjects to transfer shares to public trustee.

4. Every enemy subject who was on or after the twenty-ninth day of January, 1916, or is, a shareholder in any company shall, on or before the fifteenth day of April, 1916, transfer his shares to the public trustee with full authority to hold them until twelve months after the end of the war or to sell them in accordance with these Regulations.

Naturalized persons of enemy origin to transfer shares to public trustee unless exempted.

5.—(1) Every naturalized person of enemy origin who was, on or after the twenty-ninth day of January, 1916, or is, a shareholder in any company shall, on or before the fifteenth day of April, 1916—

(a) transfer his shares to the public trustee with full authority to hold them until twelve months after the end of the war or to sell them in accordance with these Regulations; or

(b) apply to the Attorney-General in writing in accordance with these Regulations for exemption from the provisions of these Regulations.

(2) If the application for exemption is refused as regards the whole or part of the shares held by the applicant the applicant shall within forty-eight hours after receipt by him of a notification of such refusal transfer to the public trustee in accordance with sub-regulation (1) of this Regulation the shares in respect of which the application was refused.

(3) The obligation to transfer his shares, imposed on an applicant under sub-regulation (2) of this Regulation, shall not affect the power of the Attorney-General to order the transfer of the shares under Regulation 9 of these Regulations.

Shares jointly held.

6. Where shares in any company are held jointly by an enemy subject and another person, or jointly by a naturalized person of enemy origin and another person, the provisions of these Regulations shall apply to the interest of any such enemy subject or naturalized person of enemy origin in like manner as they would apply to any shares held by that person in his own name.

Shares of enemy beneficiaries.

7. Where under the will of any person who died before the twenty-ninth day of January, 1916, or under any letters of administration in respect of the estate of any person who died intestate before that date, any enemy subject or any naturalized person of enemy origin is entitled to receive any shares of any company, or the proceeds of any such shares, the trustee of the will of the deceased, or the executor, or administrator, as the case may be, shall, in the case of a beneficiary who is an enemy subject, transfer the shares or the proceeds, as the case may be, to the public trustee, and, in the case of a beneficiary who is a naturalized subject of enemy origin, shall so transfer the shares or proceeds unless the Attorney-General, upon application made to him in writing, exempts the shares or the proceeds thereof from the provisions of these Regulations.

 

Transfer of shares purporting to be made before 29th January, 1916.

8.—(1) A transfer of any shares—

(a) which purports to have been made before the twenty-ninth days of January, 1916, and

(b) which has not been registered in the books of the company at the date of the making of these Regulations, and

(c) one at least of the parties to which is an enemy subject or a naturalized person of enemy origin,

shall not be deemed to have been made before the twenty-ninth day of January, 1916, unless the Attorney-General, or the Chairman of the Stock Exchange of the Capital City of the State in which the company is incorporated, certifies in writing that in his opinion the transfer of the shares was in fact made before that date, and shall not be registered in the absence of any such certificate.

(2) A copy of every such certificate given by the Chairman of any Stock Exchange in pursuance of this Regulation, and particulars of every refusal to give such a certificate, shall be forthwith notified by the Chairman of the Stock Exchange to the Attorney General.

Transfer of shares by order of Attorney-General.

9.—(1) After the fifteenth day of April, 1916, the Attorney-General may, if he thinks fit, by order published in the Gazette, declare that—

(a) any shares specified in the order, or

(b) some or all of the shares held by any enemy subject or by any naturalized person of enemy origin to whom an exemption from the provisions of these Regulations has not been granted, or by all enemy subjects or all such naturalized persons,

are thereby transferred to the public trustee, and thereupon all such shares shall by force of the order be and be deemed to be transferred to, and vested in, the public trustee.

(2) All companies any of whose shares are affected by any order of the Attorney-General under this Regulation shall carry out the order according to the tenor thereof, by transferring the shares in the books of the company to the name of the public trustee.

(3) Within seven days after the publication of any such order, any person in possession of any scrip representing shares transferred to the public trustee by force of the order shall forward it to the public trustee.

Transfer of shares lodged as security for an advance.

10. Notwithstanding anything contained in these Regulations, where any shares which under these Regulations have been or are required to be transferred to the public trustee were or are held by any other person firm or company as security for any advance, the transfer of the shares to the public trustee shall be subject to the rights of such other person firm or company.

Sale of shares transferred to public trustee.

11.—(1) Any enemy subject or naturalized person of enemy origin, whose shares have been transferred to the public trustee under these Regulations, may apply in writing to the Attorney-General for a direction to the public trustee to sell the whole or any part of the shares which have been transferred to him.

(2) The Attorney-General may, if he thinks fit, and whether he has received any such application or not, direct the public trustee to sell the whole or any part of any shares which have been transferred to him, and the public trustee shall sell the shares accordingly.

(3) The proceeds of the sale of any such shares shall, unless the Attorney-General otherwise directs, be paid by the public trustee to the person by whom the shares were transferred to him.

(4) Notwithstanding anything contained in this Regulation, where any person firm or company has in pursuance of the last preceding Regulation any rights in respect of any shares, the public trustee shall, at the request of the person firm or company making the advance sell the shares, and after repaying to the person firm or company the amount due to him or it in respect of the shares, shall deal with the remainder of the proceeds in the same manner as the proceeds of the sale of shares sold in pursuance of sub-Regulation (2) of this Regulation.

Dividends on shares subject to these regulations.

12.—(1) From and after the twenty-ninth day of January, 1916, dividends of any shares which—

(a) have been transferred to the public trustee; or

(b) are held by an enemy subject,

shall be paid to the public trustee.

(2) From the twenty-ninth day of January, 1916, to the fifteenth day of April, 1916 (both days inclusive), dividends of any shares which are held by a naturalized subject of enemy origin shall, if the Attorney-General so requires, be paid to the public trustee.

(3) After the fifteenth day of April, 1916, dividends of any shares which are held by a naturalized person of enemy origin who has not been exempted from the provisions of these Regulations shall be paid to the public trustee.

(4) The Attorney-General may, if he thinks fit, direct that the whole or some portion of any dividends paid to the public trustee under any of the preceding sub-Regulations of this Regulation, 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 dependents.

Calls on shares transferred to public trustee.

13.—(1) Where any shares have been transferred to the public trustee in pursuance of these Regulations, neither the public trustee nor the Commonwealth shall be under any liability—

(a) to pay any calls which fall due upon the shares, or any of them; or

(b) in respect of any failure to pay calls, but the person by or from whom the shares were so transferred shall, so long as the shares remain in the name of the public trustee, continue to be liable to pay such calls.

(2) The public trustee may, if he thinks fit, at the request of the person by or from whom the shares were transferred to him, and shall, if so directed by the Attorney-General, pay any calls on any shares out of—

(a) funds supplied to him for that purpose by that person, or his legal personal representative; or

(b) any proceeds in his hands of the sale of any of the shares transferred to him by or from that person, or any dividends on any such shares.

Transfer of shares in contravention of regulations.

14.—(1) From and after the twenty-ninth day of January, 1916, any enemy subject, and any naturalized person of enemy origin to whom the Attorney-General has refused to grant an exemption from the provisions of these Regulations, who sells or otherwise disposes of any shares to any person other than the public trustee, and any person who buys shares from any enemy subject or any such naturalized person of enemy origin, shall be guilty of an offence, and any sale or transfer of shares in contravention of this Regulation shall be void and of no effect.

(2) From and after the fifteenth day of April, any enemy subject and any naturalized person of enemy origin to whom the Attorney-General has not granted an exemption from the provisions of these Regulations, who buys shares in any company incorporated in Australia, and any person who sells shares to any enemy subject or to any such naturalized person of enemy origin, shall be guilty of an offence, and any sale or transfer of shares in contravention of this Regulation shall be void and of no effect.

(3) Upon application made to him in writing, the Attorney-General may, if he thinks fit, inform the applicant whether any person named by him is believed by the Attorney-General to be an enemy subject, or a naturalized person of enemy origin to whom the Attorney-General has refused to grant or has not granted an exemption from the provisions of these Regulations.

Companies to supply lists of shareholders.

15.—(1) On or before the thirtieth day of April, 1916, every company shall forward to the Attorney-General a list, verified by statutory declaration of the managing director, manager, secretary, or other proper officer of the company, setting forth the names and addresses of all persons, being shareholders upon any Australian register of that company on the twenty-ninth day of January, 1916, who are—

(a) enemy subjects, or

(b) naturalized persons of enemy origin,

and the number of shares held by each such person; and on or before the thirty-first day of May, 1916, every company in connexion with which a register of shares is kept at any place outside Australia shall forward to the Attorney-General a list verified in the like manner setting forth the names and addresses of all persons being shareholders upon that register of the company on the twenty-ninth day of January, 1916.

(2) Any company may require any or all of its shareholders to file with the company a statutory declaration or other evidence acceptable to the company setting out his or their nationality, (and, in the case of a naturalized person of enemy origin, his nationality prior to such naturalization) and any shareholder refusing or failing to do so within a reasonable time after being so required shall be guilty of an offence.

Proceedings on application by naturalized person for exemption.

16.—(1) Any application for exemption from the provisions of these Regulations shall be made in writing to the Attorney-General, and shall be accompanied by a statutory declaration giving full particulars of the name, address, date and place of birth, parentage and occupation of the applicant, and setting out the names of the companies in which he owns shares, and the number and estimated value of the shares, and the grounds upon which the exemption is based.

(2) The Attorney-General may, after such further inquiry (if any) as he thinks fit to require, deal with the application in his absolute discretion according to his opinion of its merits, and in particular may grant or refuse the application, or may grant it as regards the whole or part of the shares held by the applicant in any particular company or class of companies, and refuse it as regards the other shares held by the applicant.

Proceedings on application by company for exemption.

17.—(1) Any co-operative company, and any other class of company which is approved by the Attorney-General by notice in the Gazette, may apply to the Attorney-General for the exemption from the provisions of these Regulations of such of its shareholders as are naturalized persons of enemy origin.

(2) The application shall be made in writing and shall be accompanied by a statutory declaration giving full particulars of the nature of the business of the company, the principal localities in which its shareholders reside, the total number of its shares and their value, the total number of its shareholders, and the respective number and value of the shares held by enemy subjects and naturalized persons of enemy origin on the twenty-ninth day of January, 1916.

(3) The Attorney-General may, after such further inquiry (if any) as he thinks fit, deal with the application in his absolute discretion according to his opinion of its merits, and in particular may grant or refuse the application, or may grant it as regards the whole or part of the shares held by any particular shareholder or class of shareholders.

Exemption may be revoked.

18. Any total or partial exemption granted by the Attorney-General from the provisions of these Regulations may be revoked by the Attorney-General as from a date specified by him, and shall from that date cease to have effect; and any letter, certificate, or other document containing a notification of the granting of any such exemption shall on demand in writing be delivered up to the Attorney-General.

Repeal of S.R. 1916 Nos. 13 and 27.

19.—(1) Statutory Rules 1916 Nos. 13 and 27 are repealed, and these Regulations are substituted in their stead, to the intent that—

(a) all matters arising under those Statutory Rules may be continued or dealt with under these Regulations; and

(b) all references in any documents prepared for the purposes of those Statutory Rules shall be construed as references to these Regulations.

(2) Such repeal shall not affect any right, privilege, obligation or liability acquired, accrued, or incurred under those Statutory Rules.

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