STATUTORY RULES.
1917. No. 102.
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REGULATIONS UNDER THE WAR PRECAUTIONS ACT 1914-1916.
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 1914-1916, to come into operation forthwith.
Dated this first day of May, 1917.
R. M. FERGUSON,
Governor-General.
By His Excellency’s Command,
G. F. PEARCE,
Minister of State for Defence.
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War Precautions (Mining) Regulations 1916.
(Statutory Rules 1916, No. 323.)
1. Regulation 2 of the War Precautions (Mining) Regulations is amended by adding, at the end of the definition of “Mining or Metallurgical Company”, the following words:—
“Provided that a company the principal business of which consists of mining for gold shall not be deemed to be a mining or metallurgical company unless the Attorney-General by notice published in the Gazette declares that it is to be deemed to be a mining and metallurgical company”.
2. Regulation 3 of the War Precautions (Mining) Regulations is amended—
(a) by inserting after sub-regulation (2) thereof the following sub-regulation:—
“(2a) A sale or disposal to any person other than a natural-born British subject of any share or interest in a mining or metallurgical company—
(a) which purports to have been made before the fifteenth day of August, 1916; and
(b) which had not been registered in the books of the company prior to the fifteenth day of August, 1916,
shall not be deemed to have been made before the fifteenth day of August, 1916, unless the Chairman of the Stock Exchange of the Capital City of the State in which the company is incorporated, or in the case of a sale or disposal
C.325.—Price 3d.
purporting to have been made outside the Commonwealth, the person thereto authorized in writing by the Attorney-General, certifies in writing that in his opinion the sale or disposal of the share or interest was in fact made before that date.”:
(b) by inserting in sub-regulation (3) thereof, after the word “with” the words “or, in the case of the transfer of any share or interest the sale or disposal of which purports to have been made before the fifteenth day of August, 1916, a certificate under sub-regulation (2a) of this Regulation has been filed with the company,”; and
(c) by adding at the end thereof the following sub-regulation:—
“(5) Where the secretary or other proper officer of the company has, in pursuance of the last preceding sub-regulation, required a person to make a declaration in one of the forms set out in that sub-regulation, the secretary or other proper officer of the company may refuse to register the person as the proprietor of the share or interest in question until the declaration is lodged”.
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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 (Mining) Regulations 1916, introduced under the War Precautions Act 1914-1916, were enacted to address the need for stringent controls on mining and metallurgical companies during the First World War. The regulations were established by the Governor-General, acting on advice from the Federal Executive Council, to safeguard national interests by restricting the transfer of shares in mining and metallurgical companies to non-British subjects. The policy objective was to prevent the potential exploitation of mining resources by foreign interests, thereby ensuring that critical resources remained within the control of the Allied forces and their allies. The regulations required companies to certify the date of share transfers and mandated that shares transferred before a specified date would only be recognised if certified by an authorised person.
Scope and Application
The War Precautions (Mining) Regulations 1916, enacted under the War Precautions Act 1914-1916, primarily applies to mining and metallurgical companies, with a specific focus on transactions involving the sale or disposal of shares or interests in such companies. The regulations mandate that any sale or disposal of shares or interests in mining or metallurgical companies that purports to have occurred before August 15, 1916, but was not registered in the company's books by that date, must be certified by the Chairman of the Stock Exchange in the relevant state or an authorized person if the sale occurred outside Australia. This regulation aims to ensure that the sale or disposal is legitimate and occurred before the specified date. Additionally, the regulations require companies to refuse registration of shares or interests until a declaration is made by the purchaser. The scope of these regulations extends across the Commonwealth, impacting all mining and metallurgical companies within Australia and their dealings in shares or interests prior to the specified date.
Key Provisions
The War Precautions (Mining) Regulations 1916 (Statutory Rules 1916, No. 323), as amended by Statutory Rules 1917, No. 102, introduce specific provisions that alter the original regulations concerning mining and metallurgical companies. Regulation 2, which defines "Mining or Metallurgical Company," now includes an additional condition that a company whose principal business involves gold mining must receive a declaration from the Attorney-General in the Commonwealth Gazette to be deemed a mining and metallurgical company. Regulation 3 further modifies the rules surrounding the sale or disposal of shares or interests in such companies. Sub-regulation (2a) mandates that any sale or disposal made before 15 August 1916 and not previously registered must be certified by the Chairman of the relevant Stock Exchange or by a person authorized by the Attorney-General. Sub-regulation (3) adds that a certificate under sub-regulation (2a) must be filed with the company, and sub-regulation (5) allows the company's secretary or proper officer to refuse to register a share or interest until the required declaration is lodged.
These amendments impose several obligations on mining and metallurgical companies. Companies must ensure that any share or interest sale or disposal occurring before 15 August 1916 is certified by the appropriate authority. The company is also required to file the relevant certificate with the company's records. Furthermore, the company's secretary or proper officer has the authority to withhold registration of a share or interest until the necessary declaration is provided.
Failure to comply with the requirements set forth in these regulations can lead to significant consequences. Companies that do not adhere to the rules regarding the certification and filing of share or interest sales or disposals may face legal penalties. The specific consequences, including potential fines or other sanctions, are not explicitly detailed in the provided text, but non-compliance generally risks invalidating the transaction or facing other legal repercussions as outlined in the overarching War Precautions Act 1914-1916.