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


11/Nov/1998 - Current (at 31 Dec 2005)
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    19. Receipt of registered stockholders

    (1) The receipt of the person in whose name stock stands in the Stock Ledger, or if it stands in the names of more persons than one the receipt of one of the persons named in the Stock Ledger, or the receipt of the attorney of such a person or an agent duly authorised, shall be a sufficient discharge of the commission for any interest payable in respect of the stock or any document relating to that stock, notwithstanding any trusts to which the stock may then be subject and whether or not the Commission has had notice of the trusts, and the Commission shall not be bound to see to the application of the money paid upon such receipt.

    (2) If stock is held in joint names and one or more of the registered owners of the stock dies, becomes bankrupt, insolvent or otherwise legally incapable, the receipt of any one of the other joint owners or survivors, or of his attorney or an agent duly authorised shall be a sufficient discharge of the Commission for any interest payable in respect of the stock or any document relating to that stock, notwithstanding that a transmission has not been registered.

    (3) With regard to the payment of principal, the Registrar may require that a discharge shall be given by all stockholders in a joint account.


    Verification of entries


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.