Australian National Railways (ANR Stock) Regulations 1980

Australian National Railways (A.N.R. Stock) Regulations 1980

Statutory Rules 1980  No. 264 as amended

made under the

Australian National Railways Act 1983

Consolidated as in force on 4 March 1999

(includes amendments up to SR No. 352 of 1998)

Repeal effective on 16 June 2001

Prepared by the Office of Legislative Drafting,
Attorney-General’s Department, Canberra

Australian National Railways (A.N.R. Stock) Regulations 1980

Statutory Rules 1980 No. 264 as amended

made under the

Australian National Railways Act 1983

Contents

Page

 1 Name of regulations [see Notes 1 and 2] 3

 2 Definitions 3

Part III Inscription, transmission and transfer of stock

 6 Setting up and keeping registries 4

 7 Manner of registration of stock 4

 8 Notice of trusts not received 4

 9 Executors, etc 4

 10 Changes in Stock Ledger 4

 11 Sales and Transfers Register 5

 12 Transmission of stock 5

 13 Owner may transfer stock 6

 14 Transfer of stock within a Registry from one person to another              6

 15 Transfer of stock from one Registry to another with change of ownership              6

 16 Transfer of stock from one Registry to another without change of ownership              7

 17 Marked transfer 7

 18 Transfer of stock from or to a body corporate 7

 19 Specimen signature 8

 20 Stock certificates 8

 21 Limitation on registration of transactions 8

Part IV Payment of interest

 22 Payment of interest 9

 23 Cessation of interest 9

Part V Redemption of stock

 24 Redemption of stock 10

Part 6 Transitional arrangements

 25 Transitional 11

Notes  13

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1 Name of regulations [see Notes 1 and 2]

  These regulations are the Australian National Railways (ANR Stock) Regulations 1980.

2 Definitions

 (1) In these Regulations, unless the contrary intention appears:

approved form means a form approved by the Commission.

Registry means a Registry for the inscription of stock.

stock means stock issued under these regulations.

the Act means the Australian National Railways Act 1917.

 (2) In these Regulations, a reference to the owner of stock shall be read as including a reference to the owners of stock in a joint account.

Part III Inscription, transmission and transfer of stock

6 Setting up and keeping registries

  The Commission shall make arrangements for setting up and keeping Registries for the inscription of stock.

7 Manner of registration of stock

 (1) All stock issued shall be inscribed by entering in a Stock Ledger kept in accordance with an approved form at a Registry the name, address and designation of the owner of stock and the amount of stock owned by him.

 (2) No stock shall be inscribed in the names of more than 4 persons.

 (3) Stock shall not be inscribed in the name of a person under the age of 18 years.

8 Notice of trusts not received

  No notice of any trust express, implied or constructive shall be received by the Commission or entered in the Stock Ledger or other records kept by the Commission.

9 Executors, etc

  Stock shall not be inscribed in the names of executors, administrators or trustees as such but in their individual names without reference to trusteeship.

10 Changes in Stock Ledger

 (1) Where an owner of stock changes his name, address or designation, the Commission shall, on application by the owner of stock in accordance with an approved form lodged at the Registry at which the stock is inscribed, record the change in the Stock Ledger.

 (2) Where an application referred to in subregulation (1) is received by a Registry less than 14 days before a payment of interest is due, the Commission may decline to record the change specified in the application until after payment of that interest.

11 Sales and Transfers Register

  The Commission shall keep Sales and Transfers Registers in accordance with an approved form in which shall be entered particulars of sales of stock to original purchasers, transmissions of stock, transfers of stock, transfers of stock from one Registry to another, stock redeemed, stock converted and any other transaction in respect of stock.

12 Transmission of stock

 (1) A person to whom stock is transmitted may apply to be inscribed as the owner of the stock.

 (2) An application under subregulation (1) shall be made in accordance with an approved form lodged at the Registry at which the stock is inscribed and shall be executed by the applicant.

 (3) Each signature on an application referred to in subregulation (2) shall be verified in a manner approved by the Commission.

 (4) In the case of a transmission consequent on death, the probate of the will, letters of administration, or other instrument that is evidence that a person is entitled to the estate of a deceased person, or is authorized to administer the estate of a deceased person, shall be lodged at the Registry at which the stock is inscribed.

 (5) In the case of a transmission consequent on bankruptcy, an office copy of the adjudication or order of sequestration shall be lodged at the Registry at which the stock is inscribed.

 (6) A transmission of stock shall be effected by entering a record of the transmission in the Stock Ledger and by inscribing in the Stock Ledger as owner of the stock the name of the person to whom the stock has been transmitted.

13 Owner may transfer stock

 (1) The person whose name is inscribed in the Stock Ledger as the owner of stock may dispose of and transfer stock in the manner provided by these Regulations and may give effectual receipts for money paid to him by way of consideration for stock.

 (2) The owner of stock shall not transfer stock having a face value that is less than $100 or is not a multiple of $100.

14 Transfer of stock within a Registry from one person to another

 (1) Stock may be transferred within a Registry from one person to another by an instrument of transfer and acceptance, in accordance with an approved form, executed by both parties and lodged at the Registry.

 (2) Each signature on an instrument under subregulation (1) shall be verified in a manner approved by the Commission.

 (3) A transfer of stock under subregulation (1) shall be effected:

 (a) by cancelling the inscription of the stock in the name of the transferor in the Stock Ledger; and

 (b) by inscribing the stock in the name of the transferee in the Stock Ledger.

15 Transfer of stock from one Registry to another with change of ownership

 (1) The owner of stock may, by an instrument of transfer and acceptance, in accordance with an approved form, executed by both parties and lodged at the Registry at which the stock is inscribed, transfer stock to the name of another person in the Stock Ledger at another Registry.

 (2) Each signature on an instrument referred to in subregulation (1) shall be verified in a manner approved by the Commission.

 (3) A transfer of stock under subregulation (1) shall be effected:

 (a) by cancelling the inscription of the stock in the name of the transferor in the Stock Ledger at the Registry first-mentioned in subregulation (1); and

 (b) by inscribing the stock in the name of the transferee in the Stock Ledger at the other Registry referred to in subregulation (1).

16 Transfer of stock from one Registry to another without change of ownership

 (1) Stock inscribed in a Stock Ledger at a Registry in the name of a person may be inscribed in a Stock Ledger at another Registry in the name of that person on application by the person in accordance with an approved form lodged at the first-mentioned Registry.

 (2) Where stock is inscribed in the Stock Ledger at another Registry under subregulation (1), the inscription of the stock in the Stock Ledger at the Registry first-mentioned in subregulation (1) shall be cancelled.

17 Marked transfer

 (1) The Commission shall, on application by an owner of stock in accordance with an approved form lodged at the Registry at which the stock is inscribed, mark a transfer of stock, being a transfer that has been properly executed by the transferor, with words that are substantially in accordance with the following form: "Stock for (insert face value of stock proposed to be transferred) Dollars held against this transfer for a period of 42 days from and including (insert date of marking).".

 (2) Where the Commission has marked a transfer in accordance with subregulation (1), the Commission shall not give effect to any dealing in stock to which the transfer relates during the period of 42 days from and including the date of marking except in pursuance of the marked transfer.

18 Transfer of stock from or to a body corporate

  Where stock is inscribed, or is proposed to be inscribed, in the name of a body corporate, the Commission may require the body corporate to lodge at the Registry at which the stock is inscribed, or is proposed to be inscribed, as the case may be, evidence that each instrument required to be executed in respect of the stock by or on behalf of the body corporate has been executed in a manner that is effectual in law and binds the body corporate.

19 Specimen signature

  A person whose name is inscribed, or is proposed to be inscribed, in relation to stock, shall lodge at the Registry at which the stock is inscribed a specimen of his signature and shall verify the signature in a manner approved by the Commission.

20 Stock certificates

 (1) The Commission shall, upon application in accordance with an approved form lodged at the Registry at which the stock is inscribed, issue to the owner of stock a certificate, in an approved form, of his proprietorship of the stock on the date specified in the certificate.

 (2) The want of a certificate referred to in subregulation (1) shall not prevent the owner of the stock from disposing of the stock.

  (3) The Commission shall keep a record of each certificate issued under subregulation (1).

21 Limitation on registration of transactions

  A transaction relating to stock shall not, without the consent of the Commission be registered or dealt with within 14 days prior to the date upon which interest is due or within one month prior to the date of maturity of the stock.

Part IV Payment of interest

22 Payment of interest

 (1) Where stock is inscribed in the name of one person, interest on the stock may be paid:

 (a) in the manner set out in the prospectus inviting applications to purchase stock;

 (b) by cheque, payable to that person, sent by post to that person to his address shown on the Stock Ledger; or

 (c) in a manner approved by the Commission on application by the person in accordance with an approved form lodged at the Registry at which the stock is inscribed.

 (2) Where stock is inscribed in the name of more than one person, interest on the stock may be paid:

 (a) in the manner set out in the prospectus inviting applications to purchase stock;

 (b) by cheque, payable to the person whose name is first inscribed in the Stock Ledger in respect of that stock, sent by post to the last-mentioned person to his address shown on the Stock Ledger; or

 (c) in the manner approved by the Commission on application by the last-mentioned person in accordance with an approved form lodged at the Registry at which the stock is inscribed.

 (3) Any one of the persons in whose names stock is inscribed may give a valid receipt for interest.

23 Cessation of interest

  Interest on stock shall cease on the date of maturity of the stock.

Part V Redemption of stock

24 Redemption of stock

 (1) Stock shall be redeemable by payment in accordance with the provisions of the prospectus inviting applications to purchase stock.

 (2) Stock inscribed in the name of one person may be redeemed under subregulation (1) by payment:

 (a) by cheque, payable to the person, sent by post to the person to his address shown on the Stock Ledger; or

 (b) in a manner approved by the Commission on application by that person in accordance with an approved form lodged at the Registry at which the stock is inscribed.

 (3) Stock inscribed in the name of more than one person may be redeemed under subregulation (1) by payment:

 (a) by cheque, payable to the person whose name is first inscribed in the Stock Ledger in respect of that stock, sent by post to the last-mentioned person to his address shown on the Stock Ledger; or

 (b) in a manner approved by the Commission on application by the last-mentioned person in accordance with an approved form lodged at the Registry at which the stock is inscribed.

 (4) Any one of the persons in whose names stock is inscribed may give a valid receipt for a payment in redemption of stock.

Part 6 Transitional arrangements

25 Transitional

 (1) If the Minister makes a declaration under subsection 67AH (1) of the Act about any Commonwealth guaranteed liabilities that are stock, on and after the specified day for the declaration:

 (a) Parts I, III, IV and V have effect in relation to that stock as if references in those Parts to the Commission were references to the Commonwealth; and

 (b) Parts IV and V have effect in relation to that stock as if references in those Parts to a prospectus inviting applications to purchase stock included a reference to the document called Information Memorandum:

 (i) issued for the issue of that stock; and

 (ii) issued most recently before the commencement of this Part.

 (2) An approval given under these regulations before the specified day, and in effect immediately before that day, continues to have effect on and after the specified day as if the approval had been given by the Commonwealth.

 (3) The marking of a transfer for these regulations before the specified day, and for which the period of 42 days mentioned in subregulation 17 (2) has not expired on that day, continues to have effect on and after the specified day as if the transfer had been marked by the Commonwealth.

 (4) A consent given for regulation 21 before the specified day, and in effect immediately before that day, continues to have effect on and after the specified day as if the consent had been given by the Commonwealth.

 (5) In this regulation:

specified day means the day that Commonwealth guaranteed liabilities that are stock become liabilities of the Commonwealth under a declaration for subsection 67AH (1) of the Act.

 (6) Paragraph (1) (a) ceases to have effect immediately before the commencement of item 3 of Schedule 3 to the Australian National Railways Commission Sale Act 1997.

Note   For instruments that continue to have effect on and after the day on which the Australian National Railways Commission Act 1983 is repealed — see item 3 (3) of Schedule 3 to the Australian National Railways Commission Sale Act 1997, and the definition of residual instruments in item 2 of that Schedule.

Notes to the Australian National Railways (A.N.R. Stock) Regulations 1980

Note 1

The Australian National Railways (A.N.R. Stock) Regulations 1980 (in force under the Australian National Railways Act 1983) as shown in this reprint comprise Statutory Rules 1980 No. 264 amended as indicated in the Tables below.

Table of Statutory Rules

Table of Amendments

Note 2

 Section 4 of the Australian National Railways (A.N.R. Stock) Amendment Regulations 1998 (No. 1) (1998 No. 352) provides as follows:

4 Repeal

  The Australian National Railways (ANR Stock) Regulations 1980 are repealed on 16 June 2001.