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


21/Nov/2003 - Current (at 31 Dec 2005)
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    8. Cancellation of debentures

    (1) A debenture paid off, discharged, exchanged or converted into stock shall be cancelled by the Commission.

    (2) Subject to subregulation (4) any debenture or interest coupon cancelled by the Commission shall be destroyed in the presence of the Auditor General, or of an officer of the Auditor General authorised in that behalf in writing by the Auditor General, and of an officer of the Commission authorised in that behalf in writing by the Commission.

    (3) The Auditor General, or such officer of the Auditor General, before the debenture or interest coupon is destroyed shall note the facts for the purpose of the audit and accounts and furnish the Commission with a certificate particularising the debenture or coupon so destroyed, and the Commission shall retain that certificate in the appropriate Registry and cause the Debenture Register to be so noted.

    (4) The Commission may, instead of causing a cancelled debenture or interest coupon to be destroyed, cause the debenture or coupon to be marked or defaced, to indicate that it has been cancelled, in the presence of the Auditor General, or of an officer authorised in that behalf in writing by the Auditor General, and of an officer of the Commission authorised in that behalf in writing by the Commission, and cause the cancellation to be noted in the Debenture Register.



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.