State Energy Commission (Bearer Debenture and Inscribed Stock) Regulations 1980

21/Nov/2003 - Current (at 31 Dec 2005)
Notify me when this title changes.
Full Act - PDF

    24. Transmission of stock (other than by Transfer)

    (1) Where stock is to be transmitted, in consequence of the death or bankruptcy or insolvency of the registered owner of the stock or for any other lawful reason, otherwise than by a Transfer, the person to whom it is to be transmitted, or his attorney or duly authorised agent, may apply in Form No. 3 in the Schedule to the Registrar at the Registry at which the stock is inscribed to be inscribed as the owner of the stock.

    (2) An application for transmission shall, if the Registrar so requires, be supported by a statutory declaration verifying the contents of the application.

    (3) The Registrar shall require the signature of a person who claims transmission of stock by virtue of his appointment as executor, administrator or trustee, to be verified to the satisfaction of the Registrar.

    (4) The probate of the will, letters of administration of the estate or an office copy of the adjudication or order of sequestration or vesting order, as the case may be, or any other document that authorises the transmission under this regulation shall be produced to the Registrar, if he so requires.

    (5) The Registrar may require any document produced pursuant to this regulation to be left at the Registry at least 2 clear days before the stock to which it relates is dealt with under these regulations, and shall enter or cause to be entered particulars of such documents in a register.

    (6) Where the Registrar is satisfied that stock is inscribed in the name of a person whose property is required by law to be placed in the hands of the Public Trustee, or of an officer holding a corresponding position in any other State of the Commonwealth or of any other officer charged with the duty of administering estates of deceased persons or missing persons or persons under disability (other than bankruptcy or insolvency), the Registrar may authorise the transmission of the stock to the name of the Public Trustee, the officer holding a corresponding position or other officer, but before doing so the Registrar may require a sufficient indemnity from the Public Trustee, the officer holding a corresponding position or other officer.

    (7) The Registrar shall, if he is satisfied that the provisions of these regulations have been complied with, effect any such transmission by entering a record of it in the Stock Ledger and inscribing in the Stock Ledger as the registered owner of the stock the name of the person to whom the stock has been transmitted.

    (8) The transmission of any stock effected pursuant to a statutory declaration produced and accepted in accordance with the provisions of these regulations is a valid discharge of the Commission against the claims of any other person whomsoever in relation thereto.

Note: This is not an authorised version. The only authorised version is the hardcopy (printed) version published under authority of the Government Printer, available from the State Law Publisher, 10 William St Perth W.A. 6000.