STATUTORY RULES.
1920. No. 52
REGULATIONS UNDER THE WAR PRECAUTIONS ACT 1914-1918.
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 War Precautions Act 1914-1918, to come into operation on and as from the 31st December, 1919.
Dated this twenty-fifth day of March, 1920.
R. M. FERGUSON,
Governor-General.
By His Excellency’s Command,
G. F. PEARCE,
Minister of State for Defence.
Amendment of War Precautions (Companies, Firms, and Businesses) Regulations.
(Statutory Rules 1916, No. 49, as amended by Statutory Rules 1916, No. 137, by Statutory Rules 1917, Nos. 11, 35, 289, and 328, by Statutory Rules 1918, Nos. 264 and 274, by Statutory Rules 1919, No. 96, and by Statutory Rules 1920, No. 2.)
1. After regulation 1 of the War Precautions (Companies, Firms, and Businesses) Regulations, the following regulation is inserted:—
Definitions.
“1a. In these Regulations, unless the contrary intention appears—
“‘Capital’ includes stock, shares, debentures, bonds or other securities;
‘Foreign company’ means any company which is incorporated in any country not being part of the British Empire;
‘Foreign firm’ means any firm which is registered in any country not being part of the British Empire;
‘Registration’ includes the filing or lodging of any document, or the taking of any step, which is required by the law of a State to be filed, lodged or taken before a company or firm can trade or carry on business in that State;
‘Private company’ or ‘proprietary company’ means any company which under its memorandum or articles of association restricts the right to transfer its shares and limits the number of its shareholders (exclusive of persons who are in the employment of the company) to fifty persons.”
2. Regulation 1 of Statutory Rules 1920, No. 2, is repealed.
Printed and Published for the Government of the Commonwealth of Australia by Albert J. Mullett, Government Printer for the State of Victoria.
Overview
The War Precautions Act 1914-1918 was enacted to provide the Commonwealth with powers to make regulations necessary or expedient in the public interest for the purpose of defence and security during the war period. The Act aimed to address the need for enhanced measures to protect the nation during wartime, particularly in terms of managing companies, firms, and businesses. The Regulations under the Act, specifically the Amendment of War Precautions (Companies, Firms, and Businesses) Regulations 1920, were introduced by the Governor-General in Council, following advice from the Federal Executive Council. These regulations were intended to refine and update the existing legislative framework to better cater to the evolving needs of the war effort. The policy objective behind these amendments was to ensure that the regulations governing businesses during wartime were comprehensive and effective, providing a clear definition of terms and ensuring that businesses operating within the Commonwealth and its territories were properly regulated and compliant with the necessary wartime measures.
Scope and Application
The Regulations under the War Precautions Act 1914-1918, established by Statutory Rules 1920, No. 52, apply to companies, firms, and businesses in Australia, with a specific focus on those that are foreign or private entities. The regulations define key terms such as 'capital,' 'foreign company,' 'foreign firm,' and 'registration,' clarifying the scope of entities subject to these provisions. These rules are aimed at ensuring that businesses operating within Australia, particularly those incorporated or registered outside the British Empire or those with restricted share transfer rights, comply with the registration requirements of the respective states. The regulations extend across the Commonwealth, ensuring a unified approach to wartime economic controls and oversight. Notably, the regulations provide for amendments and updates to existing rules, reflecting the dynamic nature of wartime economic management. The stated exclusions and thresholds are not explicitly detailed in the text, but the focus is on entities that may have specific implications for national security or economic stability during the war period.
Key Provisions
The statutory rules under consideration amend the existing War Precautions (Companies, Firms, and Businesses) Regulations by introducing new definitions and repealing previous regulations. Specifically, section 1a of the regulations introduces definitions for key terms such as "capital," "foreign company," "foreign firm," "registration," and "private company." This new section is inserted after regulation 1 of the original regulations, thereby providing a foundational understanding of these terms within the context of the regulations (section 1).
These new provisions impose certain obligations on companies, firms, and businesses. Firstly, they must comply with the updated definitions provided in section 1a. This includes understanding the scope of what constitutes "capital" and the distinction between "foreign" and "private" companies or firms. Additionally, entities must ensure that their registration processes adhere to the state laws as outlined, which may involve filing or lodging documents or taking specific steps required by state legislation. This ensures that businesses operating within Australia are aware of and comply with both federal and state requirements.
Failure to comply with these regulations can result in various consequences. While specific penalties are not detailed in the text, breaches of regulations under the War Precautions Act 1914-1918 can lead to legal action, fines, or other penalties as prescribed by the relevant legislation. The seriousness of the breach and the intent behind it can influence the severity of the penalties imposed. Therefore, it is crucial for entities to fully understand and adhere to the stipulations set forth in these regulations to avoid any legal repercussions.