EXPLANATORY STATEMENT
STATUTORY RULES 1986 NO 243
COMMONWEALTH INSCRIBED STOCK ACT 1911
COMMONWEALTH INSCRIBED STOCK REGULATIONS (AMENDMENT)
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 simplify the requirements for attestation of signatures on transfer and acceptance forms. In comparison with the previous list of office holders able to attest signatures the new requirements allow for a signature to be attested by a witness who is over the age of 18 years, who is not a party to the instrument of transfer and acceptance and who is personally acquainted with the person signing the instrument.