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Telecom Australia Stock Regulations

SR 1989 No. 149 Regulations as made
Principal Regulations
Tabling HistoryDate
Tabled HR15-Aug-1989
Tabled Senate29-Aug-1989
Gazetted 30 Jun 1989
Date of repeal 01 Feb 1992
Repealed by Repeal of the enabling legislation by Telecommunications (Transitional Provisions and Consequential Amendments) Act 1991

1989 No. 149*1* TELECOM AUSTRALIA STOCK REGULATIONS

*1* Notified in the Commonwealth of Australia Gazette on 30 June 1989.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - PART 1
PART 1-PRELIMINARY

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 1
Citation

1. These Regulations may be cited as the Telecom Australia Stock Regulations.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 2
Interpretation

2. (1) In these Regulations, unless the contrary intention appears:
"approved form" means a form approved by Telecom;
"previous Regulations" means the Telecommunications (Telecom Australia Stock) Regulations as in force at any time before the commencement of these Regulations;
"Registry" means a Registry for the inscription of stock;
"stock" means Telecom Australia Stock referred to in regulation 3;
"the Act" means the Australian Telecommunications Corporation Act 1989.

(2) In these Regulations, a reference to the owner of stock is to be read as including a reference to the owners of stock in a joint account.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - PART 2
PART 2-ISSUE OF STOCK

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 3
Issue of securities

3. Telecom may issue securities by way of inscribed stock, called Telecom Australia Stock:
(a) for raising by way of loan any money that Telecom may borrow under the Act; and
(b) for converting any loan raised by Telecom into any other loan so raised.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 4
Terms and conditions of issue

4. (1) Stock may be issued and sold:
(a) in such amounts; and
(b) at such prices or on such yields to maturity; and
(c) on such other terms and conditions (including terms and conditions as to interest);
as are determined by the Board or as are consistent with such a determination.

(2) Where Telecom purchases stock that has been issued, it may:
(a) re-sell that stock; or
(b) cancel that stock and, in place of that stock, issue and sell new stock in accordance with subregulation (1).

(3) Where members of the public are invited to purchase stock, Telecom must issue a prospectus as approved by the Board inviting applications to purchase stock and setting out all the terms and conditions applicable to the issue and sale of that stock.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 5
Applications for stock

5. (1) An application by a member of the public to purchase stock must:
(a) be in accordance with the approved form accompanying the prospectus; and
(b) be made in the manner specified in the prospectus.

(2) In the case of a joint account, the application must set out the names of the owners in the order in which they are to appear in the Stock Ledger.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - PART 3
PART 3-INSCRIPTION, TRANSMISSION AND TRANSFER OF STOCK

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 6
Establishment of Registries

6. Telecom must make arrangements for the establishment of Registries for the inscription of stock.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 7
Manner of registration of stock

7. (1) All stock issued must be inscribed by entering in a Stock Ledger kept in accordance with an approved form at a Registry the name, address and designation of the owner of stock and the amount of stock owned by him or her.

(2) Stock must not be inscribed in the names of more than 4 persons.

(3) Stock must not be inscribed in the name of a person under the age of 18 years.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 8
Notice of trusts not received

8. No notice of any trust express, implied or constructive is to be received by Telecom or entered in the Stock Ledger or other records kept by Telecom.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 9
Executors etc.

9. Stock must not be inscribed in the names of executors, administrators or trustees as such but in their individual names without reference to trusteeship.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 10
Changes in Stock Ledger

10. (1) Where an owner of stock changes his or her name, address or designation, Telecom must, on application by the owner of stock in accordance with an approved form lodged at the Registry at which the stock is inscribed, record the change in the Stock Ledger.

(2) Where an application is received by a Registry less than 14 days before a payment of interest is due, Telecom may decline to record the change specified in the application until after payment of that interest.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 11
Sales and Transfers Register

11. Telecom must keep Sales and Transfers Registers in accordance with an approved form in which particulars of sales of stock to original purchasers, transmissions of stock, transfers of stock, transfers of stock from one Registry to another, stock redeemed, stock converted and any other transaction in respect of stock are to be entered.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 12
Transmission of stock

12. (1) A person to whom stock is transmitted may apply to be inscribed as the owner of the stock.

(2) An application must be made in accordance with an approved form lodged at the Registry at which the stock is inscribed and must be executed by the applicant.

(3) Each signature on an application must be verified in a manner approved by Telecom.

(4) In the case of a transmission consequent on death, the probate of the will, letters of administration, or other instrument that is evidence that a person is entitled to the estate of a deceased person, or is authorised to administer the estate of a deceased person, must be lodged at the Registry at which the stock is inscribed.

(5) In the case of a transmission consequent on bankruptcy, an office copy of the adjudication or order of sequestration must be lodged at the Registry at which the stock is inscribed.

(6) A transmission of stock is to be effected by entering a record of the transmission in the Stock Ledger and by inscribing in the Stock Ledger as owner of the stock the name of the person to whom the stock has been transmitted.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 13
Owner may transfer stock

13. The person whose name is inscribed in the Stock Ledger as the owner of stock may dispose of and transfer stock in the manner provided by these Regulations and may give effectual receipts for money paid to him or her by way of consideration for stock.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 14
Transfer of stock within a Registry from one person to another

14. (1) Stock may be transferred within a Registry from one person to another by an instrument of transfer and acceptance, in accordance with an approved form, executed by both parties and lodged at the Registry.

(2) Each signature on an instrument must be verified in a manner approved by Telecom.

(3) A transfer of stock is to be effected:
(a) by cancelling the inscription of the stock in the name of the transferor in the Stock Ledger; and
(b) by inscribing the stock in the name of the transferee in the Stock Ledger.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 15
Transfer of stock from one Registry to another with change of ownership

15. (1) The owner of stock may, by an instrument of transfer and acceptance, in accordance with an approved form, executed by both parties and lodged at the Registry at which the stock is inscribed, transfer stock to the name of another person in the Stock Ledger at another Registry.

(2) Each signature on an instrument must be verified in a manner approved by Telecom.

(3) A transfer of stock is to be effected:
(a) by cancelling the inscription of the stock in the name of the transferor in the Stock Ledger at the first Registry; and
(b) by inscribing the stock in the name of the transferee in the Stock Ledger at the other Registry.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 16
Transfer of stock from one Registry to another without change of ownership

16. (1) Stock inscribed in a Stock Ledger at a Registry in the name of a person may be inscribed in a Stock Ledger at another Registry in the name of that person on application by the person in accordance with an approved form lodged at the first Registry.

(2) Where stock is inscribed in the Stock Ledger at another Registry, the inscription of the stock in the Stock Ledger at the first Registry must be cancelled.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 17
Marked transfer

17. (1) Telecom must, on application by an owner of stock in accordance with an approved form lodged at the Registry at which the stock is inscribed, mark a transfer of stock, being a transfer that has been properly signed by the transferor, with words that are substantially in accordance with the following form: "Stock for (insert face value of stock proposed to be transferred) Dollars held against this transfer for a period of 42 days from and including (insert date of marking).".

(2) Where Telecom has marked a transfer in accordance with sub-regulation (1), Telecom must not give effect to any dealing in stock to which the transfer relates during the period of 42 days from and including the date of marking except in pursuance of the marked transfer.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 18
Transfer of stock from or to a body corporate

18. Where stock is inscribed, or is proposed to be inscribed, in the name of a body corporate, Telecom may require the body corporate to lodge at the Registry at which the stock is inscribed, or is proposed to be inscribed, as the case may be, evidence that each instrument required to be executed in respect of the stock by or on behalf of the body corporate has been executed in a manner that is effective in law and binds the body corporate.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 19
Specimen signature

19. A person whose name is inscribed, or is proposed to be inscribed, in relation to stock, must lodge at the Registry at which the stock is inscribed a specimen of his or her signature and verify the signature in a manner approved by Telecom.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 20
Stock certificates

20. (1) Telecom must, upon application in accordance with an approved form lodged at the Registry at which the stock is inscribed, issue to the owner of stock a certificate, in an approved form, of his or her proprietorship of the stock on the date specified in the certificate.

(2) The absence of a certificate does not prevent the owner of the stock from disposing of the stock.

(3) Telecom must keep a record of each certificate.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 21
Limitation on registration of transactions

21. A transaction relating to stock is not, without the consent of Telecom, to be registered or dealt with within 14 days before the date on which interest is due or within one month before the date of maturity of the stock.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - PART 4
PART 4-PAYMENT OF INTEREST

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 22
Payment of interest

22. (1) Where stock is inscribed in the name of one person, interest on the stock may be paid:

(a) in the manner set out in the prospectus inviting applications to purchase stock; or
(b) by cheque, payable to that person, sent by post to that person to his or her address shown on the Stock Ledger; or
(c) in a manner approved by Telecom on application by the person in accordance with an approved form lodged at the Registry at which the stock is inscribed.

(2) Where stock is inscribed in the name of more than one person, interest on the stock may be paid:
(a) in the manner set out in the prospectus inviting applications to purchase stock; or
(b) by cheque, payable to the person whose name is first inscribed in the Stock Ledger in respect of that stock, sent by post to that person to his or her address shown on the Stock Ledger; or
(c) in a manner approved by Telecom on application by that person in accordance with an approved form lodged at the Registry at which the stock is inscribed.

(3) Any one of the persons in whose names stock is inscribed may give a valid receipt for interest.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 23
Cessation of interest

23. Interest on stock ceases on the date of maturity of the stock.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - PART 5
PART 5-REDEMPTION OF STOCK

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 24
Redemption of stock

24. (1) Stock is redeemable by payment in accordance with the provisions of the prospectus.

(2) Stock inscribed in the name of one person may be redeemed by payment:
(a) by cheque, payable to the person, sent by post to the person to his or her address shown on the Stock Ledger; or
(b) in a manner approved by Telecom on application by that person in accordance with an approved form lodged at the Registry at which the stock is inscribed.

(3) Stock inscribed in the name of more than one person may be redeemed by payment:
(a) by cheque, payable to the person whose name is first inscribed in the Stock Ledger in respect of that stock, sent by post to that person to his or her address shown on the Stock Ledger; or
(b) in a manner approved by Telecom on application by that person in accordance with an approved form lodged at the Registry at which the stock is inscribed.
(4) Any one of the persons in whose names stock is inscribed may give a valid receipt for a payment in redemption of stock.

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - PART 6
PART 6-MISCELLANEOUS

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 25
Transitional

25. (1) In spite of the ceasing to have effect of the previous Regulations:

(a) stock issued under the previous Regulations is to be taken to have been issued under these Regulations; and
(b) a person has the same rights in relation to stock issued under the previous Regulations as the person would have if the stock had been issued under these Regulations; and
(c) a prospectus issued under subregulation 4 (3) of the previous Regulations, as a result of which stock is issued under these regulations, is to be taken to have been approved and issued under these Regulations; and
(d) a Registry established under the previous Regulations is to be taken to have been established under regulation 6.

(2) Where the Australian Telecommunications Corporation marked a transfer in accordance with subregulation 17 (1) of the previous Regulations, subregulation 17 (2) of these Regulations applies in relation to the stock as if the stock had been marked on that date under these Regulations.