War Service Homes (Staff) Regulations (Amendment) (Cth)

STATUTORY RULES.

1944. No. 99.

REGULATIONS UNDER THE NATIONAL SECURITY ACT 1939-1943.*

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 National Security Act 1939-1943.

Dated this twenty-ninth day of June, 1944.

GOWRIE

Governor-General.

By His Excellency’s Command,

J. B. CHIFLEY

for and on behalf of the Minister of State for Defence.

 

Amendments of the National Security (Economic Organization) Regulations.

Certain share transactions forbidden.

1. Regulation 7 of the National Security (Economic Organization) Regulations is amended—

(a) by omitting sub-regulations (2.) and (3.) and inserting in their stead the following sub-regulations:—

“(2.) Nothing in the last preceding sub-regulation shall prevent—

(a) the sale of any debentures by a personal representative of a deceased person, by a trustee of the estate of a deceased person or by a trustee in bankruptcy, in his capacity as such, or by a mortgagee or sub-mortgagee in exercise of a power of sale;

(b) the sale by any person of any debentures of which that person has been the beneficial owner for not less than six months;

* Notified in the Commonwealth Gazette on 30th June, 1944.

  Statutory Rules 1942, No. 76, as amended by Statutory Rules 1942, Nos. 81, 110, 127, 145, 160, 218, 221, 224, 248, 257, 293, 318, 332, 344, 425, 458, 490, 537 and 539; 1943, Nos. 21, 60, 76, 142 and 278; and 1944, Nos. 52 and 83.

3193.—Price 3d.

(c) the sale, by a personal representative of a deceased person, by a trustee of the estate of a deceased person or by a trustee in bankruptcy, in his capacity as such, or by a mortgagee or sub-mortgagee in exercise of a power of sale, of any shares or stock officially listed by a recognized Stock Exchange in Australia, where the sale is made through a member of any such Stock Exchange;

(d) the sale by any person of any shares or stock officially listed by any such Stock Exchange, where the shares or stock have been registered in the name of that person for not less than five months and the sale is made through a member of any such Stock Exchange; or

(e) the sale of any shares or stock not so listed—

(i) by a personal representative of a deceased person, by a trustee of the estate of a deceased person or by a trustee in bankruptcy, in his capacity as such, or by a mortgagee or sub-mortgagee in exercise of a power of sale; or

(ii) where the shares or stock have been registered in the name of the seller for not less than five months,

but nothing in this paragraph shall authorize the sale of any shares or stock where, as the result of the sale, the purchaser will have acquired, since the fifteenth day of June, 1944, the beneficial ownership of shares or stock, or of any class of shares or stock, in any company exceeding in nominal value one-quarter of the nominal value of the shares or stock issued by that company, or of that class of shares or stock so issued, as the case may be.

“(3.) Upon submission to a company of a transfer of any shares, stock or debentures, the company shall not register the transfer unless—

(a) the Treasurer has consented to the transaction to which the transfer relates;

(b) the company is satisfied that the transaction is not in contravention of any of the provisions of these Regulations; or

(c) in the case of shares or stock which are officially listed by a recognized Stock Exchange in Australia and have been registered in the name of the transferor for not less than five months, the transfer bears the stamp of a member of any such Stock Exchange.

“(3a.) In any case where, by reason of the provisions of the last preceding sub-regulation, a company is required not to register a transfer of any shares, stock or debentures submitted to the company for registration, the company shall forthwith report the facts to the Treasurer.”; and

(b) by inserting in sub-regulation (6.) after the word “not” the words “, without the consent in writing of the Treasurer,”.

Registrar of Titles may require evidence that transactions are not in contravention of regulations.

2. Regulation 10b of the National Security (Economic Organization) Regulations is amended by omitting sub-regulation (2.).

False statements.

3. Regulation 20 of the National Security (Economic Organization) Regulations is amended by inserting after the word and symbols “Part III.” the word and symbols “, Part IIIa.”.

Contracts to evade Regulations.

4. Regulation 21 of the National Security (Economic Organization) Regulations is amended—

(a) by inserting in paragraph (a), after the word and symbols “Part III.”, the words and symbols “or Part IIIa.”; and

(b) by inserting in paragraph (b), after the word and symbols “Part III.”, the word and symbols “, Part IIIa.”.

Power to obtain information.

5. Regulation 22 of the National Security (Economic Organization) Regulations is amended by inserting in sub-regulation (1.), after the word and symbols “Part III.,”, the word and symbols “Part IIIa.,”.

 

By Authority: L. F. Johnston, Commonwealth Government Printer, Canberra.