EXPLANATORY STATEMENT
STATUTORY RULES 1984 NO. 121
COMMONWEALTH INSCRIBED STOCK ACT 1911
COMMONWEALTH INSCRIBED STOCK REGULATIONS (AMENDMENTS)
Section 58 of the Commonwealth Inscribed Stock Act 1911 (the Act) provides that the Governor-General may make regulations, not inconsistent with the Act, prescribing fees payable under the Act and all matters and forms required or necessary or convenient to be prescribed for carrying out or for giving effect to the Act or for the conduct of any business at or in connection with any Registry.
The Regulations make provision for the conditions for the investment of incorporated bodies in Commonwealth securities. These conditions are consistent with those contained in the new Regulation 15A for unincorporated bodies and remove the outdated provisions regarding the affixing of corporate seals. In addition, the amendments omit from the Schedule to the Regulations Form 7 which is made redundant by the repeal of the current Regulation 15.