COMMONWEALTH INSCRIBED STOCK.

No. 5 of 1933.

An Act to amend the Commonwealth Inscribed Stock Act 1911-1932.

[Assented to 30th May, 1933.]

BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation.

1.—(1.) This Act may be cited as the Commonwealth Inscribed Stock Act 1933.

(2.)  The Commonwealth Inscribed Stock Act 1911-1932* is in this Act referred to as the Principal Act.

(3.)  The Principal Act, as amended by this Act, may be cited as the Commonwealth Inscribed Stock Act 1911-1933.

2.—(1.)  Section eight of the Principal Act is repealed and the following section inserted in its stead:—

Redemption of stock.

“8.   Stock shall be redeemable at par on or after a date to be fixed in the order creating the stock and as specified in the order, or shall be redeemable by instalments of such amounts, and payable on such dates, as are specified in that order, or may be made interminable, reserving to the Treasurer the right, on or after a date fixed by the Governor-General in the order creating the stock, to redeem the stock at par upon such notice given in such time and manner as is prescribed.”.

(2.)  Where at any time prior to the commencement of this section the Governor-General has specified, in an order creating any stock, that such stock shall be redeemable on a specified date or by instalments of specified amounts payable on specified dates, such order shall be deemed to be as valid and effectual as if this section had been in force when the order was made.

Transfer by Instrument.

3.  Section twenty-four of the Principal Act is amended by omitting the word “deed” and inserting in its stead the word “instrument”.

Execution of transfer.

4.  Section twenty-five of the Principal Act is amended by omitting the word “deed” and inserting in its stead the word “instrument”.

Registration of transfer.

5.  Section twenty six of the Principal Act is amended by omitting the word “deed” and inserting in its stead the word “instrument”.

Commencement.

6.  The amendments effected by sections three, four and five of this Act shall be deemed to have commenced on the date of commencement of the Principal Act.