Commonwealth Inscribed Stock Regulations

Commonwealth Inscribed Stock Regulations

Statutory Rules 1944 No. 186 as amended

made under the

Commonwealth Inscribed Stock Act 1911

This compilation was prepared on 10 July 2002
taking into account amendments up to SR 1995 No. 291

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

Contents

Page

Part I Preliminary

 1 Citation [see Note 1] 

 2 Repeal 

 3 Parts 

 4 Interpretation 

 5 Forms 

 6 Hours of business at Registries 

 6AA Prescribed person for purposes of definition of certified copy

Part II Provisions relating to stock

 6A Prescribed stock for the purposes of subsection 4 (1) 

 7 Applications for stock 

 8 Receipt for application 

 10 Entries in stock ledger 

 11 Inscription of stock in the name of an infant solely 

 12 Re-payment of principal where stock inscribed in names of infant and adult             

 14 Inscription of stock in names of banks 

 15A Inscription of stock in names of unincorporated associations 

 16 Application by Friendly Societies, unincorporated associations etc             

 16A Inscription of stock in name of trustee 

 18 Correction of mistakes 

 19 Specimen signatures 

 20 Inspection of stock ledgers 

 22 Notification of inscription of stock etc 

 22A Form of certificate of proprietorship of stock 

 23 Transfers of stock within a Registry 

 24B Dealings by joint owners 

 25 Death of sole owner of stock 

 25A Prescribed amount of stock for purposes of section 29 of the Act             

 26 Death of joint owner of stock 

 27 Exhibition of probates etc 

 28 Transmission applications 

 29 Transfer of stock to Public Curator etc 

 30 Section 27 of the Act not to apply in relation to certain transactions             

 31 Marked transfers 

 32 Payment of interest 

 35 Requests to remain in force until cancelled or varied 

 36 Change of address 

 37 Payment of interest where infant is sole owner 

 38 Payment of interest where infant is joint owner 

 39 Payment of interest where person under disability is joint owner             

 40 Redemption of interminable stock 

 41 Issue of bearer securities in exchange for stock 

 42 Exchange of bearer securities for stock in name of infants etc             

Part III Provisions relating to bearer securities

 43 Treasury Bonds 

 46 Treasury Bills 

 46A Prescribed securities for the purposes of section 51A of the Act             

 47 Certain provisions of Treasury Bills Act not to apply to Treasury Bonds, Debentures and prescribed securities             

 48 Treasury Note to be prescribed security 

 49 Application of Treasury Bills Act to Treasury Notes 

 49A Issue of stock in exchange for bearer securities 

 49B Exchange of bearer securities 

 50 Exchange of bearer securities at different Registries 

 51 Coupons on exchanged bonds 

 51A Surrender by banks of War Savings and Savings Certificates held in safe custody             

 54 Delivery of bearer securities on behalf of a deceased person 

Part IV Powers of attorney

 55 Prescribed form of power of attorney 

 57 Power of attorney to be left for notation 

 58 Action on powers of attorney 

Part V Miscellaneous

 59 Duties of Registrar 

 60 Safe custody of securities 

 61 Secrecy 

 62 Sealing of documents by bodies corporate 

 63 Delivery of securities through a bank or postmaster 

 64 Notice of dealing 

 65 Delegation of Treasurer’s Powers 

 66 Replacement of defaced bearer securities 

 66AA Replacement of lost, stolen or destroyed bearer securities 

 66AB Payment of lost, stolen or destroyed coupon 

 66A Destruction of bearer securities 

 66B Securities that may be accepted in payment of estate duty 

 67 Marksmen 

 68 Preservation of instruments 

 69 General Register of Treasury Bonds 

 70 Returns 

Schedule 1  

Notes  

Part I Preliminary

1 Citation [see Note 1]

  These Regulations may be cited as the Commonwealth Inscribed Stock Regulations.

2 Repeal

  The Commonwealth Inscribed Stock Regulations (comprising Statutory Rules 1927, No. 157; 1928, Nos. 29 and 61; 1931, Nos. 17, 102 and 151; 1932, Nos. 71 and 135; 1934, Nos. 8 and 123; 1935, No. 128; 1936, No. 72; 1938, No. 50; 1940, No. 40; and 1942, No. 227) are repealed.

3 Parts

  These Regulations are divided into Parts, as follows:

  Part I — Preliminary (Regulations 1-6)

  Part II — Provisions Relating to Stock (Regulations 6A-42)

  Part III — Provisions Relating to Bearer Securities

   (Regulations 43-54)

  Part IV — Powers of Attorney (Regulations 55-58)

  Part V — Miscellaneous (Regulations 59-70).

4 Interpretation

  In these Regulations, unless the contrary intention appears:

approved form means a form approved by the Treasurer.

bearer security means a security other than stock.

bond means Treasury Bond.

owner means an owner of stock or the owners of stock in a joint account.

security means a security under the Act.

stock ledger means a Stock Ledger at a Registry as referred to in section 15 of the Act.

the Act means the Commonwealth Inscribed Stock Act 1911.

the Secretary means the Secretary to the Department of the Treasury.

5 Forms

 (1) In these Regulations, any reference to a Form shall be read as a reference to a Form in the Schedule to these Regulations.

 (2) Where these Regulations require the use of any Form, any Form to the like effect approved by the Treasurer may be used.

6 Hours of business at Registries

  Each Registry shall be open for the transaction of business on such days and during such hours as the Treasurer determines.

6AA Prescribed person for purposes of definition of certified copy

  For the purposes of the definition of certified copy in section 3 of the Act, each of the following persons is a prescribed person:

 (a) a barrister or solicitor;

 (b) a stockbroker;

 (c) a justice of the peace for a State or a Territory;

 (d) a Notary Public for a State or a Territory;

 (e) any other person having authority to administer an oath in a State or a Territory.

Part II Provisions relating to stock

6A Prescribed stock for the purposes of subsection 4 (1)

  For the purposes of subsection 4 (1) of the Act, the following stock is prescribed:

 (a) Australian Savings Bonds;

 (b) Treasury Indexed Bonds;

 (c) Treasury Bills;

 (d) Treasury Bonds;

 (e) Treasury Notes.

7 Applications for stock

 (1) An application to purchase stock, except where the application is made on a form accompanying a prospectus calling for subscriptions by public tender, shall be in accordance with Form 1.

 (3) In the case of a joint account, the application shall set forth the names in the order in which they are to appear in the stock ledger.

8 Receipt for application

  In respect of an application that has not been rejected, upon receipt of the application and purchase money, the Registrar shall issue a receipt in writing.

10 Entries in stock ledger

 (1) There shall be entered in the stock ledger in relation to all stock issued under the Act:

 (a) the name and description of each owner of the stock;

 (b) an address to which certificates, receipts, other documents and moneys relating to the stock are to be forwarded; and

 (c) the usual residential address of the owner or, in the case of a joint account, of the owner whose name is first inscribed in the stock ledger.

 (2) Where an address referred to in paragraph (1) (b) or (c) is changed, notice of the change shall be given in writing to the Registrar by:

 (a) in the case of a joint account — the owner of the stock whose name is first inscribed in the stock ledger; or

 (b) in any other case — the owner of the stock in relation to which the address is entered.

 (3) Upon receipt of the notice given under subregulation (2), the Registrar shall record the change of address in the stock ledger.

 (4) Where, in the case of a joint account, the joint owners give instructions under paragraph 24B (1) (b) in relation to the notice of the change of address, the Registrar is to give effect to those instructions.

11 Inscription of stock in the name of an infant solely

 (1) Stock may be inscribed in the name of an infant solely, and an infant may transfer stock, but if the infant has not attained the age of fourteen years, the stock shall not be transferred, and bearer securities shall not be issued in exchange therefor without the consent of the infant’s parent or guardian.

 (2) Bearer securities issued in exchange for stock inscribed in the name of such an infant may be delivered by the Registrar to the infant’s parent or guardian whose receipt shall be a valid discharge.

12 Re-payment of principal where stock inscribed in names of infant and adult

 (1) Where stock is inscribed in the name of an infant jointly with one or more other persons, the principal may, if the infant has attained the age of fourteen years, be paid to the infant jointly with the other person or persons in whose names the stock is inscribed.

 (2) Where the infant has not attained the age of fourteen years the principal may be paid to the infant’s parent or guardian jointly with the other person or persons in whose names the stock is inscribed.

14 Inscription of stock in names of banks

 (1) Where an applicant for the purchase of bearer securities requests that the bearer securities be delivered to a bank (including a savings bank), the equivalent amount of stock may, on application by the bank in writing, be inscribed in the name of the bank, but nothing in this regulation shall affect any obligation of a bank to deliver bearer securities to the purchaser thereof.

 (2) Where an applicant for the purchase of stock requests that the stock be inscribed in the name of a bank (including a savings bank), the stock may, on application by the bank in writing, be inscribed in the name of the bank.

 (3) Nothing in subregulation (2) affects any obligation of a bank to transfer stock to the purchaser thereof.

15A Inscription of stock in names of unincorporated associations

 (1) Stock may be inscribed in the name of an unincorporated association that:

 (a) has a name; and

 (b) has a written constitution or written rules of association.

 (2) Before stock is inscribed in the name of an unincorporated association, there shall be furnished to the Registrar:

 (a) a copy of its constitution or rules of association; and

 (b) the names and addresses of its officers who have been appointed in accordance with its constitution or rules of association.

16 Application by Friendly Societies, unincorporated associations etc

 (1) An application by an unincorporated association or by a Friendly Society, Trade Union, or any branch thereof, for inscribed stock shall be in accordance with Form 1 or in accordance with the form accompanying the prospectus of a loan in respect of which the application is made, or in accordance with Form 15 or Form 33, and shall contain the particulars specified in the form.

 (2) Whenever an application for stock is made by an unincorporated association or by a Friendly Society, Trade Union or any branch thereof, or a transfer of stock to an unincorporated association or a Friendly Society, Trade Union or any branch thereof is delivered to the Registrar, there shall be furnished to the Registrar a certificate in accordance with an approved form, unless the Registrar is already in possession of such a certificate.

 (3) Whenever any change occurs in the persons authorized in accordance with the form approved under subregulation (2), there shall be furnished to the Registrar a fresh certificate in accordance with that form.

16A Inscription of stock in name of trustee

  Where, under section 19 of the Act, stock is inscribed in the name of a trustee as trustee of a specified trust, the Registrar may, when specifying the trust, do so in a manner that is convenient for the purpose of that inscription.

18 Correction of mistakes

 (1) Where the Registrar is satisfied, on request in writing to correct a mistake in the stock ledger, that any stock is inscribed incorrectly owing to a mistake in a request for inscription or transfer, or for any other reason, the Registrar may amend the stock ledger.

 (2) If the Registrar so requires, a statutory declaration as to the circumstances shall be furnished.

19 Specimen signatures

 (1) The Registrar must obtain a specimen signature for each stock owner.

 (2) The Registrar may require:

 (a) a document to be signed before an officer of a Registry; or

 (b) a signature to be witnessed.

20 Inspection of stock ledgers

  An owner or part owner of stock shall be at liberty at all reasonable times to inspect his account of stock in the stock ledger, upon request made in writing to the Registrar.

22 Notification of inscription of stock etc

 (1) Upon inscribing stock or cancelling the inscription of stock in the name of a person, a Registrar shall, unless the person signifies in writing that he or she does not require such notification, notify the person accordingly in writing.

 (2) Where stock is inscribed in a stock ledger in the names of persons as joint owners or the inscription of stock in a stock ledger in the names of persons as joint owners is cancelled, it is sufficient compliance with the last preceding subregulation if the person whose name is first inscribed is notified.

 (3) This regulation does not apply in relation to the inscription, or the cancellation of the inscription, of stock for the purposes of the redemption, transmission or conversion of stock.

22A Form of certificate of proprietorship of stock

 (2) A certificate of the proprietorship of stock issued under section 17 of the Act shall be in accordance with an approved form.

 (3) A Registrar shall keep a record of each certificate issued by him under section 17 of the Act.

23 Transfers of stock within a Registry

 (1) The transfer of stock from one person to another within a Registry may be made by an instrument of transfer and acceptance, in accordance with Form 15, executed by both parties and registered at the Registry.

24B Dealings by joint owners

 (1) Where:

 (a) stock is inscribed in the names of 2 or more persons, not being or including persons who are infants or under a legal disability, as joint owners; and

 (b) the joint owners give instructions in writing to the Registrar in accordance with the approved form that:

 (i) any notice under subregulation 10 (2); or

 (ii) any transfer under regulation 23; or

 (iv) any request in respect of the payment of interest under regulation 32; or

 (v) any application for the issue of bearer securities in exchange for stock under regulation 41;

  if signed by any one or more of the joint owners of the stock, is to be valid and effectual for all purposes as if signed by all of the joint owners;

  the Registrar shall give effect to the instructions.

 (2) The instructions may be cancelled by one or more of the joint owners by notification in writing to the Registrar.

 (3) A cancellation does not have effect until it is received by the Registrar.

25 Death of sole owner of stock

  Upon production to the Registrar of probate of the will or letters of administration of the estate of the sole owner of any stock and, if required by the Registrar, a declaration by some person approved by the Registrar as to the identity of the deceased person as the owner, the Registrar may record the death of the owner in the stock ledger.

25A Prescribed amount of stock for purposes of section 29 of the Act

  For the purposes of subsection (2) of section 29 of the Act, the prescribed amount of stock is an amount of $20,000.

26 Death of joint owner of stock

  Upon production to the Registrar of probate of the will, letters of administration of the estate or certificate of death of one of the joint owners of stock and, if required by the Registrar, a declaration by some person approved by the Registrar as to the identity of the deceased as the owner, the stock shall be registered in the name of the survivor or survivors.

27 Exhibition of probates etc

 (1) All probates, letters of administration, orders of sequestration, vesting orders and other like orders shall be exhibited at the Registry at least two clear days before the stock affected by them may be dealt with.

28 Transmission applications

 (1) A transmission application shall be in accordance with Form 22.

 (2) Where, upon an application pursuant to subregulation (1), a transmission is registered the Registrar shall, as soon as practicable, inform the applicant by notice in writing accordingly.

 (2A) Where on a transmission stock is inscribed in the names of persons as joint owners, it is sufficient compliance with the last preceding subregulation if a notice is forwarded to the applicant whose name is first inscribed.

 (3) The Registrar may require the signature of persons who claim transmission of stock by virtue of their appointment as executors, administrators or trustees to be verified to his satisfaction.

29 Transfer of stock to Public Curator etc

  Where the Treasurer is satisfied that stock is inscribed in the name of a person whose property is required by law to be administered by a Public Curator or other officer charged with the duty of administering the estates of missing persons or persons under disability (other than bankruptcy or insolvency), the Treasurer may, upon receiving such indemnity from the Public Curator or other officer as he thinks necessary, authorize the transfer of the stock to the name of the Public Curator or other officer.

30 Section 27 of the Act not to apply in relation to certain transactions

  Section 27 of the Act does not apply in relation to the following transactions:

 (a) a transaction relating to stock that has been issued on terms and conditions that do not include a term or condition that the owner of the stock is entitled to payment of interest at a specified rate or rates;

 (b) a transaction relating to the redemption of stock that has been issued on terms and conditions including a term or condition that the stock is redeemable at the option of the owner.

31 Marked transfers

 (1) The Registrar may mark a transfer of stock which has been properly executed by the transferor with words to the effect that stock is held against the transfer for a period specified in the marking.

 (2) Where any transfer is so marked, the Registrar may refuse to give effect to any dealing in stock to which the transfer relates during the period specified in the marking except in pursuance of the marked transfer.

32 Payment of interest

 (1) Subject to this regulation, interest on stock shall be paid by post:

 (a) where a request is made in accordance with subregulation (5) — to the person or persons specified in that request;

 (ab) where an instruction is given under paragraph 24B (1) (b) — to the person or persons specified in that instruction; or

 (b) where no such request is made or instruction is given — to the owner or, in the case of a joint account, to the owner whose name is inscribed first in the stock ledger.

 (2) Where the terms and conditions on which stock is issued and sold allow, and upon a request being made in accordance with subregulation (5), interest may be paid into a bank account, including a savings bank account, or into an account with another financial institution approved by the Treasurer.

 (3) Without limiting the means by which interest may be paid into an account in accordance with subregulation (2), interest shall be taken to be paid into an account under that subregulation if:

 (a) the interest is paid to a person authorized to receive payment by the bank or other financial institution with which the account is maintained together with a direction for payment by that person to the bank or other financial institution for crediting to that account; and

 (b) that person gives effect to the direction accordingly.

 (4) If the Registrar receives a request referred to in subregulation (1) or (2) less than 7 clear days before the day on which the next interest is due for payment, the Registrar need not comply with the request until after the interest is paid.

 (5) A request referred to in subregulation (1) or (2) shall be made in writing and signed by the owner of the stock or, in the case of a joint account, subject to any instructions given under subregulation 24B, by all the owners or by the owner whose name is inscribed first in the stock ledger.

35 Requests to remain in force until cancelled or varied

  A request under regulation 32 of these Regulations shall remain in force until cancelled or varied.

36 Change of address

 (1) Any change of address of the person to whom an interest cheque is sent shall be notified at once to the Registrar.

 (2) If the Registrar receives a notification less than 7 clear days before the day on which the next interest is due for payment, the Registrar need not act on the notification until after the interest is paid.

37 Payment of interest where infant is sole owner

  Interest on stock inscribed in the name of an infant solely shall be paid as directed by him, but if the infant has not attained the age of fourteen years, interest may be paid at the discretion of the Registrar to the infant’s parent or guardian, whose receipt shall be a valid discharge.

38 Payment of interest where infant is joint owner

 (1) Where stock is inscribed in the name of an infant jointly with one or more other persons, the interest thereon may, if the infant has attained the age of fourteen years, be paid to the infant jointly with that other person or those other persons.

 (2) Where the infant has not attained the age of fourteen years the interest may be paid to the infant’s parent or guardian jointly with that other person or those other persons.

39 Payment of interest where person under disability is joint owner

  Where stock is inscribed in the name of:

 (a) an infant; or

 (b) a person under legal disability by reason of the state of his or her mind;

  jointly with other persons not under legal disability, interest on the stock may be paid as directed by the other persons not under legal disability, and without the concurrence of the infant or the person referred to in paragraph (b), upon sufficient proof of legal disability being lodged with the Registrar.

40 Redemption of interminable stock

  If stock has been made interminable, the Treasurer, or a person appointed for the purpose by the Treasurer, must give to the holder of the stock 7 clear days’ notice in writing of its redemption.

41 Issue of bearer securities in exchange for stock

 (1) An application for the issue of bearer securities in exchange for stock shall be in accordance with Form 26.

 (2) Bearer securities issued in exchange for stock shall be issued on the same terms and conditions (including terms and conditions, if any, as to interest) as those on which the stock was issued.

 (3) Before bearer securities are issued in exchange for stock, the Registrar shall cause any overdue interest coupons to be cut off and cancelled.

42 Exchange of bearer securities for stock in name of infants etc

 (1) Subject to subregulation (1A), where stock is inscribed in the name of:

 (a) an infant; or

 (b) a person under legal disability by reason of the state of his or her mind (in this regulation referred to as a relevant person);

  jointly with other persons not under legal disability, bearer securities shall not be issued in exchange for the stock except in pursuance of an order of:

 (c) a Justice of the High Court; or

 (d) a Judge of the Supreme Court of a State or Territory.

 (1A) Where a person is authorised under a law of a State or Territory to administer the estate of a relevant person, bearer securities may be issued in exchange for stock inscribed in the name of the relevant person jointly with other persons not under legal disability upon receipt of an application in accordance with Form 26 signed:

 (a) by the first-mentioned person on behalf of the relevant person; and

 (b) by the persons not under legal disability.

 (2) Where an order has been made by a Justice of the High Court or a Judge of the Supreme Court of a State or Territory in relation to stock which is inscribed in the name of a relevant person jointly with other persons not under any legal disability, it shall not be necessary for an application in accordance with Form 26 for the issue of bearer securities in exchange for that stock to be signed by or on behalf of the relevant person.

Part III Provisions relating to bearer securities

43 Treasury Bonds

  Treasury Bonds, with coupons attached, shall be in accordance with Form 28.

46 Treasury Bills

  Treasury Bills in accordance with Form 32 may be issued under section 51A of the Act.

46A Prescribed securities for the purposes of section 51A of the Act

 (1) Securities in accordance with Form 32A or Form 32B to be known as Special Bonds, are prescribed securities for the purposes of section 51A of the Act.

 (2) Securities in accordance with Form 32C to be known as Australian Savings Bonds are prescribed securities for the purposes of section 51A of the Act.

47 Certain provisions of Treasury Bills Act not to apply to Treasury Bonds, Debentures and prescribed securities

 (1) Paragraphs (c), (e) and (f) of section 4 of the Treasury Bills Act 1914 shall not apply to Treasury Bonds, Debentures, Special Bonds and Australian Savings Bonds.

 (2) Paragraphs (c) and (e) of that section shall not apply to Treasury Bills issued under section 51A of the Act.

48 Treasury Note to be prescribed security

 (1) A security in accordance with Form 39A, to be known as a Treasury Note, is a prescribed security for the purposes of section 51A of the Act.

 (2) Treasury Notes shall be numbered in such manner as the Treasurer approves.

49 Application of Treasury Bills Act to Treasury Notes

  Sections 4, 8 and 8A of the Treasury Bills Act 1914 do not apply in relation to a Treasury Note.

49A Issue of stock in exchange for bearer securities

 (1) An application for the issue of stock in exchange for bearer securities shall be in accordance with Form 33.

 (2) Stock issued in exchange for bearer securities shall be issued on the same terms and conditions (including terms and conditions, if any, as to interest) as those on which the bearer securities were issued.

 (3) A Registrar shall issue a receipt in writing for bearer securities lodged with him in exchange for stock and shall keep a record of the receipts so issued.

49B Exchange of bearer securities

  Upon application in accordance with an approved form, a bearer security may be surrendered at a Registry in exchange for another bearer security or other bearer securities to be issued at a Registry on the same terms and conditions as those on which the first-mentioned bearer security was issued.

50 Exchange of bearer securities at different Registries

 (1) Upon application in accordance with an approved form, a bearer security may be surrendered at a Registry in exchange for another bearer security or other bearer securities to be issued at another Registry on the same terms and conditions as those on which the first-mentioned bearer security was issued.

 (2) On receipt of the bearer securities surrendered, the Registrar receiving the bearer securities shall notify the Registrar at the other Registry in writing that bearer securities may be issued in exchange for the bearer securities so surrendered.

 (3) The Commonwealth shall not be under any legal liability for any delay in issuing bearer securities under this regulation.

51 Coupons on exchanged bonds

  Bearer securities issued in exchange for other bearer securities under either of the last two preceding regulations shall have attached thereto coupons equivalent to the coupons attached to the bearer securities surrendered.

51A Surrender by banks of War Savings and Savings Certificates held in safe custody

 (1) A bank which holds Treasury Bonds known as War Savings Certificates or Savings Certificates in safe custody for a person may surrender those bonds to a Registrar.

 (2) A bank which surrenders bonds in pursuance of the last preceding subregulation shall be entitled to a certificate, in accordance with Form 38A, equivalent in face value to the total face value of the bonds surrendered, and the Registrar shall issue the certificate accordingly.

54 Delivery of bearer securities on behalf of a deceased person

 (1) Upon the death of a person who is entitled to receive from a Registrar any bearer securities not exceeding a face value of $20,000, the Treasurer may authorize the delivery of the bearer securities to such person as he thinks fit.

 (2) No person shall have any claim against the Commonwealth in respect of any bearer securities delivered under this regulation but nothing in this regulation shall relieve the person to whom the bearer securities are delivered to account for or deal with the bearer securities in accordance with law.

Part IV Powers of attorney

55 Prescribed form of power of attorney

 (1) A power of attorney may be in accordance with an approved form.

 (2) A power of attorney in accordance with the form approved under subregulation (1) shall be executed and attested in accordance with the instructions contained in that form.

 (3) A power of attorney that relates to stock inscribed in the names of two or more persons jointly shall be signed by both or all of those persons.

57 Power of attorney to be left for notation

 (1) A power of attorney must be left at a Registry for notation at least 2 clear days before it is to be acted upon.

 (2) The Registrar must make, and keep, a copy of a power of attorney that is left at a Registry for notation.

58 Action on powers of attorney

 (1) If the Registrar is satisfied that a power of attorney has been properly executed and attested, and that the signatures thereto are genuine, the Registrar may act upon the authority contained therein.

 (2) In case of doubt, the Registrar shall forward a notice in writing of intention to act under subregulation (1) to the owner of the stock, and the Registrar shall not act under the power of attorney until he is satisfied that there is no objection thereto.

Part V Miscellaneous

59 Duties of Registrar

  A Registrar shall exercise his powers and functions in accordance with the Act and these Regulations and with such instructions as are given to him by the Secretary.

60 Safe custody of securities

  It shall be the duty of a Registrar to take steps to secure the safe custody of all bearer securities, and of all books, forms and other records relating to securities, in his charge, and no person other than an officer of the Registry acting in the course of his duty shall, unless so authorized by the Secretary, be permitted to have access thereto.

61 Secrecy

  An officer of a Registry shall not divulge any information coming to his knowledge in the course of his duties, except as authorized by the Act, by these Regulations or by the Secretary, or except as required by law.

62 Sealing of documents by bodies corporate

 (1) All instruments under these Regulations executed by a body corporate shall be duly sealed and the Registrar may require proof that such an instrument has been so sealed.

 (2) For the purposes of subregulation (1), where:

 (a) a document bears what appears to be an impression of the seal of a body corporate; and

 (b) the affixing of that impression of the seal appears to have been attested by 2 persons, one of whom purports to have signed as a director of the body corporate and the other of whom purports to have signed as a director or secretary of the body corporate;

  the Registrar may regard the document as having been duly sealed by the body corporate.

 (3) Subregulation (2) does not apply in relation to a document if the Registrar knows, or has reason to suspect, that the document has not been duly sealed by the body corporate.

 (4) Except where the Registrar has reason to suspect that a document has not been duly sealed by a body corporate, the Registrar is not required to examine any other document held in a Registry that purports to have been duly sealed by the body corporate at an earlier time.

 (5) A reference in subregulation (1) to instruments under these Regulations executed by a body corporate includes a reference to applications under these Regulations made by a body corporate.

63 Delivery of securities through a bank or postmaster

 (1) A Registrar may, where he considers it desirable to do so, arrange for bearer securities which cannot conveniently be delivered personally to the owner thereof at the Registry, to be delivered to the owner through a bank or postmaster.

 (2) The owner shall furnish to the Registrar a receipt for bearer securities so delivered.

64 Notice of dealing

  Where for any reason the Registrar considers it desirable to do so, he may, before giving effect to any transaction in connexion with stock, forward to the owner a notice in writing of intention to give effect to the transaction and shall not give effect to the transaction until he is satisfied that there is no objection thereto.

65 Delegation of Treasurer’s Powers

 (1) The Treasurer may, in writing under his hand, delegate to any other person any of his powers and functions under these Regulations except this power of delegation.

 (2) Every delegation under this regulation shall be revocable at will, and no such delegation shall prevent or affect the exercise of any power or function by the Treasurer.

66 Replacement of defaced bearer securities

 (1) Sections 9 and 10 of the Treasury Bills Act 1914 do not apply to bearer securities or to coupons issued in connexion with bearer securities.

 (2) Subject to subregulation (5), where a bearer security has been defaced before it is paid off, the Treasurer shall, upon the owner surrendering the defaced bearer security, authorize the issue to the owner of a bearer security on the same terms and conditions as those on which the defaced bearer security was issued.

 (3) A bearer security issued under subregulation (2) shall have attached to it interest coupons equivalent to the interest coupons that were attached to the surrendered bearer security at the time of surrender.

 (4) Subject to subregulation (5), where an interest coupon that has been detached from a bearer security has been defaced before it is paid, the Treasurer shall, upon the owner surrendering the defaced coupon, issue to the owner a coupon equivalent to the coupon that has been defaced.

 (5) A defaced bearer security or interest coupon shall not be replaced unless the number of the bearer security or interest coupon, as the case may be, is legible.

66AA Replacement of lost, stolen or destroyed bearer securities

 (1) Subject to subregulation (5), where a bearer security is lost, stolen or destroyed before it has been paid off, the owner may apply, or (if the owner is a minor) a parent or guardian of the owner may apply on behalf of the owner, to the Treasurer for the issue, in lieu thereof, of a replacement security on the same terms and conditions (including terms and conditions, if any, as to interest) as those on which the lost, stolen or destroyed bearer security was issued.

 (2) If the Treasurer is satisfied:

 (a) that the bearer security has been lost, stolen or destroyed; and

 (b) that the applicant or the minor on whose behalf the application was made (as the case requires) was, at the time of the loss, theft or destruction, the owner of the bearer security;

  the Treasurer may, upon the applicant giving an indemnity to the satisfaction of the Treasurer to indemnify the Commonwealth against payment of the lost, stolen or destroyed bearer security or of any interest thereon, authorize the issue to the owner, upon such conditions, if any, as the Treasurer determines, of a replacement security in accordance with the application.

 (3) A replacement security issued under subregulation (2) shall be in the form of subscribed stock and shall be held in the charge of the Registrar.

 (4) An amount payable on the redemption of a security issued under subregulation (2) shall not be payable until a date fixed by the Treasurer, having regard to:

 (a) the circumstances in which the original bearer security was lost, stolen or destroyed, as the case may be; and

 (b) the possibility, if any, that the original bearer security may be presented for payment.

 (5) In this regulation, a reference to a bearer security does not include a reference to an interest coupon that has been detached from a bearer security.

66AB Payment of lost, stolen or destroyed coupon

  If the Treasurer is satisfied that an interest coupon that has been detached from a bearer security has been lost, stolen or destroyed before it is paid, the Treasurer may, upon the owner, or (if the owner is a minor), a parent or guardian of the owner, giving an indemnity to the satisfaction of the Treasurer to indemnify the Commonwealth against payment of the coupon, authorize payment of the amount of the coupon to the owner.

66A Destruction of bearer securities

 (1) Section 12 of the Treasury Bills Act 1914 does not apply to bearer securities or to coupons issued in connexion with bearer securities.

 (2) Bearer securities, or coupons issued in connexion with bearer securities, that have been cancelled because they have been paid off and discharged or for any other reason shall be destroyed in the presence of an authorized person, who shall, when the destruction is complete, certify, by writing under his hand, that the bearer securities or coupons have been destroyed in his presence.

 (3) In this regulation, authorized person means a person authorized by the Secretary.

66B Securities that may be accepted in payment of estate duty

  Australian Savings Bonds — Series 1, 2 and 3, and any securities that are issued on terms and conditions that include a term or condition that the security is acceptable in payment of estate duty under the Estate Duty Act 1914 at a value to be determined in the manner set out in the term or condition, are prescribed securities that may be accepted under section 52C of the Act in payment of estate duty payable under the Estate Duty Act 1914:

 (a) in the case of Australian Savings Bonds — Series 1, 2 and 3:

 (i) where securities are presented in payment of estate duty before the first interest payment date — at face value; or

 (ii) where securities are presented in payment of estate duty on or after the first interest payment date — at a value being the total of the face value and the accrued interest; and

 (b) in the case of the other securities referred to in this regulation — at a value determined in the manner referred to in this regulation.

67 Marksmen

  Where any person is unable to sign his name instruments required for the purposes of these Regulations shall be executed by him and attested in such manner as the Registrar requires.

68 Preservation of instruments

  The Registrar shall preserve all instruments relating to securities until their destruction is authorized by the Treasurer.

69 General Register of Treasury Bonds

  The Registrar shall keep a General Register of Bearer Securities.

70 Returns

 (1) Each Registrar shall furnish to the Secretary such returns and information as the Secretary requires.

 (2) The Registrar shall forward a copy of each return under this regulation to the Auditor-General.

Schedule 1  

(regulations 7 and 16)

Form 1  

 per cent., maturing 19 .

APPLICATION TO PURCHASE SECURITIES OTHERWISE THAN BY PUBLIC TENDER

To the Registrar,

 Commonwealth Government Registry of Inscribed

 Stock at

  hereby apply for $ ( dollars) of

* and herewith tender the sum of

 dollars

 in payment for the same, namely —  $

Amount of securities purchased.....................

Amount of premium.............................

Accrued interest.............................._________

Total..............................._________

(Signatures)

 Date

* Insert details of the securities.

Form 15  

(regulations 16 and 23)

 per cent., maturing , 19 .

 Commonwealth Government Registry of Inscribed

 Stock at

TRANSFER AND ACCEPTANCE

  (Name, address and occupation must be given in full)

hereby assign and transfer unto

 (Name, address and occupation must be given in full)

h executors, administrators, or assigns, the sum of $

their

( dollars) 

Inscribed Stock, and all property and interest in and right to the same, and to the interest accrued thereon.

 As witness hand this day of 19 .

 Witness

 Witness

 Witness

 Witness

the abovenamed transferee(s) hereby accept the stock mentioned above transferred into name.

 As witness hand this day of 19   .

 Witness

 Witness

 Witness

 Witness

Form 22  

(regulation 28)

 per cent., maturing 19 .

REQUEST FOR TRANSMISSION

To the Registrar,

 Commonwealth Government Registry of

 Inscribed Stock at

 Please have the undermentioned Transmission effected —

 From who lately resided

at  but who is now*

$ ( dollars)

of 

who reside(s) at

and  and claim(s) by transmission.

(Occupation)

  submit herewith the following documents in support of this claim:

Signature

 (The capacity of the person(s) making the request, e.g., “Executor(s)”, &c., must be shown.)

Witness —  Address

 Date

* Dead, bankrupt, or insolvent.

Form 26  

(regulations 41 and 42)

 per cent., maturing 19 .

APPLICATION FOR THE ISSUE OF BEARER SECURITIES
IN EXCHANGE FOR STOCK

To the Registrar,

 Commonwealth Government Registry of Inscribed

Stock at

  hereby request that  $ (dollars) of the standing in name(s) be exchanged for bearer securities

 * at

 It is requested that the bearer securities be delivered * at the Post Office

to whose signature appears in the margin.

 Signature

 Address

 Date

Witness

Received as undermentioned —

Bearer securities totalling $

(Here insert particulars of the securities)

First interest coupon due Signature of recipient

* Cross out whichever is inapplicable.

Form 28  

(regulation 43)

COMMONWEALTH TREASURY BOND

TRANSFERABLE BY DELIVERY

Issued under the Commonwealth Inscribed Stock Act 1911-19 .

 $ $

 This Bond entitles the bearer to the payment at the Reserve Bank of Australia

at Canberra, Sydney, Melbourne, Brisbane, Adelaide, Perth, Hobart or
Launceston of $ , together with interest thereon at the rate
of per centum per annum in accordance with the attached coupons and such sums are secured on the Consolidated Revenue of the Commonwealth of Australia.

 Principal is repayable on the day of ,

19       .

 Dated this day of 19 .

Secretary to the Treasury

COMMONWEALTH TREASURY BOND

 Coupon for six months’ interest on $ repayable 19 .

Form 32  

(regulation 46)

 Payable

 19      .

 $ No.

COMMONWEALTH OF AUSTRALIA

TREASURY BILL

Issued under the Commonwealth Inscribed Stock Act 1911-19        .

TRANSFERABLE BY DELIVERY

 This Treasury Bill entitles the Bearer to the payment at

of on the day of , One thousand nine

hundred and , and such sum is secured on the Consolidated Revenue of the Commonwealth of Australia.

 Dated this day of , 19 .

Secretary to the Treasury

Form 32A  

(regulation 46A)

[Front of Form]

 Series  — Finally Repayable , 19 .

COMMONWEALTH OF AUSTRALIA

SPECIAL BOND — SERIES

Issued under the Commonwealth Inscribed Stock Act 1911-19      .

TRANSFERABLE BY DELIVERY

 This Bond of a face value of entitles the bearer to payment at the office of the Commonwealth Bank of Australia at Sydney, Melbourne, Brisbane, Adelaide, Perth, Hobart or Launceston of the amount indicated hereon, together with interest on face value at the rates shown hereon in accordance with the attached coupons and such sums are secured on the Consolidated Revenue of the Commonwealth of Australia.

No person shall be entitled to own Special Bonds —

Series  — of a greater value than $ .

Dated this day of , 19 .

(Signature of Treasurer or person appointed

by the Governor-General)

COMMONWEALTH OF AUSTRALIA

SPECIAL BOND INTEREST COUPON

%.

 Interest for months

(Date of interest payment)

on $

Repayable 19 . $ (amount of interest)

[Reverse side of Form]

COMMONWEALTH OF AUSTRALIA

SPECIAL BOND — SERIES

$

Finally repayable , 19 .

[Here insert conditions subject to which interest on Bonds is payable]

Form 32B  

(regulation 46A)

[Front of Form]

Series

COMMONWEALTH OF AUSTRALIA

SPECIAL BOND

Issued under the Commonwealth Inscribed Stock Act 1911-19 .

Transferable by Delivery

This Bond entitles the Bearer to payment at the Reserve Bank of Australia at Canberra, Sydney, Melbourne, Brisbane, Adelaide, Perth, Hobart or Launceston of              on the              day of              , One thousand nine

hundred and .

The Bearer of this Bond is entitled, subject to compliance with the conditions endorsed on the reverse side of this Bond, to have this Bond redeemed at any time after the              day of              , One thousand

nine hundred and , at any of the above-mentioned offices. The amount payable on the redemption of the Bond is that ascertained in accordance with the following table:

 The Bearer of this Bond is entitled to payment of interest in accordance with the attached coupons and the conditions endorsed on the reverse side of this Bond.

 An amount (including an amount of interest) payable on this Bond is secured on the Consolidated Revenue of the Commonwealth of Australia.

 Dated this day of 19 .

Signature of Treasurer or

person appointed by the

Governor-General

COMMONWEALTH OF AUSTRALIA

SPECIAL BOND — Series

Interest Coupon

Interest rate

Interest for months

 on $ (Date of interest payment)

Repayable, 19 .

$ (Amount of interest)

[Reverse side of Form]

SPECIAL BOND — Series

$

Maturity Date  19       .

[Here insert Conditions subject to which the Bond is issued].

Form 32C  

(regulation 46A)

[Front of Form]

COMMONWEALTH OF AUSTRALIA

AUSTRALIAN SAVINGS BOND

SERIES FINALLY REPAYABLE ON 19 .

 This Bond entitles the Bearer to payment at the Reserve Bank of Australia at Canberra, Sydney, Melbourne, Brisbane, Adelaide, Perth, Hobart or Darwin

of on the day of  19 , together

with interest thereon at the rate of per centum per annum in accordance with the attached coupons, and such sums are secured on the Consolidated Revenue of the Commonwealth of Australia.

 The Bearer of this Bond is entitled to have this Bond redeemed prior to

subject to compliance with the conditions endorsed on the reverse of this Bond.

 Dated this day of 19 .

(Signature of Treasurer

or person appointed by

the Governor-General)

Issued under the Commonwealth Inscribed Stock Act 1911-19       .

TRANSFERABLE BY DELIVERY

COMMONWEALTH OF AUSTRALIA

AUSTRALIAN SAVINGS BOND INTEREST COUPON

SERIES

 % interest for 6 months on (amount of Bond). (Date of interest payment).  Repayable, 19      . (Amount of  interest).

[Reverse side of Form]

COMMONWEALTH OF AUSTRALIA

AUSTRALIAN SAVINGS BOND

Series

Maturity Date 19 .

(Here insert conditions subject to which Bond is issued).

Form 33  

(regulations 16 and 49A)

 per cent., maturing , 19 .

APPLICATION FOR THE INSCRIPTION OF STOCK
IN EXCHANGE FOR BEARER SECURITIES

To the Registrar,

 Commonwealth Government Registry of Inscribed

 Stock at

 I forward herewith bearer securities,  detailed below,  of a total value

of $ ( dollars), with the request that they be exchanged for be inscribed in the name(s) of —

 Bearer security numbers. Next interest payable —

(Here insert particulars of the securities)

(Signature)

Full Address

Date

Form 38A  

(regulation 51A)

COMMONWEALTH OF AUSTRALIA

SAVINGS CERTIFICATE

Issued under the Commonwealth Inscribed Stock Act 1911-19 .

 This Certificate entitles the bearer to payment at the Commonwealth Bank

of Australia at of the sum of on the

 day of 19 , and that sum is secured on the Consolidated Revenue of the Commonwealth of Australia.

Secretary to the Treasury

 Signature of Registrar of Inscribed Stock

 Registry stamp

Form 39A  

(regulation 48)

COMMONWEALTH OF AUSTRALIA

TREASURY NOTE

ISSUED UNDER THE COMMONWEALTH INSCRIBED
STOCK ACT 1911‑1946

 This Treasury Note entitles the Bearer to payment of

dollars on the day of ,

One thousand nine hundred and .

 The money secured by this Note is payable by the Commonwealth of Australia out of the Consolidated Revenue Fund.

 Payment of the money secured by this Note will be made at 

 Issued at this day of ,19 .

Signature of Treasurer or person

appointed by the Governor-General

Notes to the Commonwealth Inscribed Stock Regulations

Note 1

The Commonwealth Inscribed Stock Regulations (in force under the Commonwealth Inscribed Stock Act 1911) as shown in this compilation comprise Statutory Rules 1944 No. 186 amended as indicated in the Tables below.

Table of Statutory Rules

Table of Amendments

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