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

11/Nov/1998 - Current (at 31 Dec 2005)
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    26. Owner may transfer stock

    (1) The person whose name is inscribed in the Stock Ledger as the owner of stock may dispose of and transfer the stock in the manner provided by these regulations, and may give effectual receipts for money paid to him by way of consideration for stock.

    (2) Stock shall be transferable in the manner prescribed by these regulations and not otherwise.

    (3) Where a Certificate of Inscription was issued, on a Transfer of stock thereby affected being lodged for registration the Registrar may, if he thinks fit, require the production of the original Certificate of Inscription and may cancel and retain it.

    (4) To have effect, a Transfer effecting a change of ownership shall be executed by each of the parties to the transaction whether making or accepting the transfer, in person or by his attorney and the signatures to the instrument shall be verified in a manner approved by the Registrar.

    (5) Except as regards the first payment of interest where under the conditions of the issue of any stock the Commission has provided that payment shall be made to the person to whom the stock was originally allotted, every Transfer shall pass the right to all interest becoming due and payable after the date of registration thereof, so that the Commission shall not be under any necessity to apportion any such interest as between the transferor and the transferee.

    (6) The owner of stock shall not transfer stock having a face value that is less than $100 or is not an integer multiple of $100, except with the consent of the Registrar.

    (7) Every Transfer shall be lodged on a transfer day.

    (8) The transfer days will be Monday to Friday inclusive in each week from 10 a.m. to 3 p.m., save that a Transfer shall not be registered on any Saturday or a Sunday or where the relevant Registry is closed on a public holiday under the law of a State or of the Commonwealth.

    Transfer of stock within a Registry from one person to another

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.