No. 439. 36 VICTORIA, Certificate of title under this Act is or is not a trustee nor subject him to any liability in the event of his granting a certificate of title to a trustee nor invalidate any certificate of title if granted. General provi 4. No certificate shall be granted in respect of any sum of stock sions as to certi- not being Fifty pounds or a multiple of Fifty pounds. ficates of title. 26 & 27 Vict. c. 28 s. 5. Distinction be The coupons annexed to a stock certificate shall comprise the interest payable in respect of the stock described in the certificate for a period of not less than five years commencing from the date of the certificate. At the expiration of that period fresh coupons shall be issued for a further period of not less than five years, and so for successive periods of not less than five years during the continuance in force of the stock certificate; but the Treasurer may if he thinks fit in lieu of issuing fresh coupons in respect of a certificate give in exchange a fresh certificate with coupons attached thereto. Coupons shall be payable at the Treasury on and after the day of presentation, and at any branch of the Treasury, situate more than ten miles from the chief establishment, at which the holder of any coupons shall have given to the Treasurer notice in writing of his intention to present the same, at the expiration of five clear days from the day of presentation. The payment to the bearer of any coupon of the amount expressed therein shall be a full discharge to the Treasurer of all liabity in respect to that coupon and the interest represented thereby. No notice of any trust in respect of any stock certificate or coupon issued under this Act shall be receivable by the Treasurer. 5. A stock certificate, unless a name is inscribed therein, as tween certificates hereinafter provided, shall entitle the bearer to the stock therein described, and shall be transferable by delivery. to bearer and nominal certi- Nominal certificate not to be renewed as nominal. Ib. s. 7. The bearer of a stock certificate may convert the same into a nominal certificate by inserting therein, in manner prescribed by any regulation made in pursuance of this Act, the name address and quality of some person. A stock certificate when it becomes nominal shall not be transferable, and the person named therein (hereinafter called the nominee), or some person deriving title from him by devolution in law as hereinafter mentioned, shall alone be recognised by the Treasurer as entitled to the stock described in the certificate. Upon the death of the nominee in a nominal certificate his personal representative, upon his bankruptcy or insolvency his assignees or trustees and upon the marriage of any female nominee her husband, shall alone be recognised by the Treasurer as entitled to the stock described in the certificate, and shall be deemed respectively to be a nominee or nominees in that certificate. The death or bankruptcy of any nominee in a nominal certificate, or the marriage of any female nominee, shall be proved in such manner as may from time to time be directed by the Treasurer, with the sanction of the Governor in Council. 6. The nominee in a nominal stock certificate shall not be entitled to have the same renewed as nominal, but he shall on delivery up to the Treasurer of his certificate, and of all coupons belonging thereto not then payable, and on compliance with any regulation made in pursuance of this Act, be entitled to receive in exchange from the Treasurer a stock certificate to bearer. No. 439. The nominee in a nominal stock certificate, and the bearer of a 36 VICTORIA, stock certificate to bearer, may, on the like delivery, and on compliance with any regulation made in pursuance of this Act, require to be registered in the stock ledger as a holder of the stock described in the certificates under which they respectively derive title, and thereupon the stock shall be re-entered in the stock ledger and become transferable, and the interest payable as if no certificate had been issued in respect of such stock, and every application for such registration shall be in the form contained in the Fifth Schedule to Fifth Schedule. this Act. dealing with stock 7. There shall be charged with respect to the several proceedings Fees in respect of in relation to stock authorized by this Act the fees specified in the under this Act." Sixth Schedule hereto. 26 & 27 Vict. to certificates of 8. The Governor in Council may from time to time issue any general regula additional forms that may be required for carrying into effect the tions with respect provisions of this Act, and also from time to time make any regula- title. tions that are not inconsistent with this Act relative to the following Ib. s. 10. things: (1.) The time for which coupons are to be given. (II.) The conversion of a stock certificate to bearer into a (III.) The authority under which and the mode in which the (IV.) The mode of proving the title of or identifying any (v.) With respect to any other matter necessary to carry this And any regulation so made shall be deemed to be part of this Act stock certificates 9. The issue and delivery up of all stock certificates and coupons Issue delivery up and the payment of all coupons shall be reviewed and audited by the and payment of Commissioners of Audit in accordance with the provisions of any and coupons to Act now or hereafter to be in force for the collection and payment of the public moneys and the audit of the public accounts. be audited. included in 10. When any certificate of title is issued under this Act in Manner of dealrespect of any share in the said stock the amount of stock included ing with stock in such certificate shall be debited in the stock ledgers to the person certificate. obtaining the same, and shall be credited to an account to be kept in the said stock ledgers to be called the Stock Certificate Account. standing. 11. Save in so far as relates to the mode of transfer and Provisions as payment of interest thereon, any stock described in a stock certificate to stock outissued under this Act shall be deemed to be charged on the same tb. s. 13. securities, and to be subject to the same powers of redemption, and to the same incidents in all respects as if no such certificate had been issued. 36 VICTORIA, No. 439. Penalties on persons committing forgery. 25 & 27 Vict. c. 28 s. 14. Penalties on per sonating owners of stock. Ib. s. 15. 12. Whosoever shall forge or alter or shall offer utter dispose of or put off, knowing the same to be forged or altered, any stock certificate or coupon or any document purporting to be a stock certificate or coupon, or shall demand or endeavour to obtain or receive any share or interest of or in any stock which now is or hereafter may be transferable at the office of the Treasurer, or to receive any interest or money payable in respect thereof by virtue of any such forged or altered certificate or coupon or document purporting as aforesaid, knowing the same to be forged or altered, with intent in any of the cases aforesaid to defraud shall be guilty of felony, and being convicted thereof shall be liable at the discretion of the court to be imprisoned for any term not exceeding fifteen years. 13. Whosoever shall falsely and deceitfully personate any owner sons falsely per- of any share or interest of or in any stock which now is or hereafter may be transferable at the office of the Treasurer, or of any stock certificate or coupon, and shall thereby obtain or endeavour to obtain any stock certificate or coupon or receive or endeavour to receive any money due to any such owner as if such offender were the true and lawful owner shall be guilty of felony, and being convicted thereof shall be liable at the discretion of the court to be imprisoned for any term not exceeding fifteen years. Penalties on persons engraving plates &c. Ib. s. 16. Debentures may st ock. Schedules. 14. Whosoever without lawful authority or excuse the proof whereof shall lie on the party accused, shall engrave or make upon any plate wood stone or other material any stock certificate or coupon purporting to be a stock certificate or coupon issued or made under and in pursuance of this Act, or to be a blank stock certificate or coupon issued or made as aforesaid, or to be a part of such a stock certificate or coupon, or shall use any such plate wood stone or other material for the making or printing any such stock certificate or coupon or any such blank stock certificate or coupon or any part thereof respectively, or knowingly have in his custody or possession any such plate wood stone or other material, or shall knowingly offer utter dispose of or put off or have in his custody or possession any paper upon which any such blank stock certificate or coupon or part of any such stock certificate or coupon shall be made or printed, shall be guilty of felony, and being convicted thereof shall be liable at the discretion of the court to be imprisoned for any term not exceeding ten years. 15. At any time after the commencement of this Act the several be converted into debentures issued under the provisions of the several Acts in the First and Second First and Second Schedules hereto mentioned may be converted into stock in the manner hereinafter appearing (that is to say):-The Governor in Council may from time to time fix the amount of stock that will be given in exchange for any variety of debenture, and the bearer of any debenture may, with the consent of the Treasurer, exchange such debenture for its equivalent in stock as fixed for the time being by the Governor in Council as aforesaid; and upon every such exchange all debentures so exchanged and all coupons not then payable belonging thereto shall be delivered up to the Treasurer, who shall thereupon cause stock to an amount equivalent to such debentures to be credited to such person as the bearer of such debentures shall in writing direct in the stock ledger. And the nominal amount of the Victorian Government stock shall be from time to 36 VICTORIA, No. 439. time by notice in the Government Gazette increased by every amount of such stock so credited to any one in exchange for debentures. The Commissioners of Audit or any two of them shall before the amount of stock to be exchanged for debentures is fixed as aforesaid certify to the Treasurer the arithmetical equivalent in Victorian Government stock of the said debentures respectively at the market price as notified to them by order of the Governor in Council. 26 & 27 Vict. 16. It shall and may be lawful for all executors administrators Executors &c. guardians trustees and committees of the estates of idiots or lunatics may convert. and the attorneys representatives or assignees of such executors c. 28 s. 22. administrators guardians trustees and committees to convert the several and respective debentures herein before mentioned into the said stock for and on behalf of their respective testators intestates infants minors femes covert idiots or lunatics and others for whom they are or shall be respectively intrusted, and such executors administrators guardians trustees and committees are and shall be by virtue of this Act indemnified in and for the doing the same. cancelled. 17. All debentures and all coupons not then payable belonging Converted dethereto so delivered up by the bearers thereof to the Treasurer in bentures to be exchange for stock shall be cancelled and transmitted to the Commissioners of Audit by the Treasurer. 18. Every person credited with stock in exchange for deben- Debentures contures shall hold such stock subject to the condition of redemption in the said last recited Act contained concerning the same. verted to be subject to redemption. a Judge's order prohibiting a the transfer to prohibit the issue of a certificate. 19. The obtaining of a stock certificate shall be deemed transfer within the meaning of any order of a judge under twenty-second section of the "Public Works Loan Act 1872." 20. No certificate of title to any stock shall be granted and no stock certificates stock shall be exchanged for debentures on any Saturday or holiday and exchanges of or within the period of fourteen days next before either of the day's tures not to be on which the interest on such stock is payable. stock for deben issued or made on certain days. "An Act to authorize the raising of Moneys for the Construction "An Act to authorize the borrowing of Three Hundred Thousand "An Act to authorize the raising of Money for certain Public (a) See 29 Vict. No. 289 ss. 2 & 3 and Schedule I., “Public Works," post. Preamble and section 15. No. THIRD SCHEDULE. TO THE TREASURER OF VICTORIA. being the proprietor of pounds of the Victorian Government stock standing in name in the books kept at the Treasury, and being desirous of transferring the same, for the purpose of having an equal sum of stock certificates intead thereof as under, do hereby request permission to transfer the said amount of stock to the "Stock Certificate Account," for the purpose aforesaid. Certificates of £ 50 £ of £100 £ Section 2. Section 6. of £1000 £ Total £ 18 FOURTH SCHEDULE. VICTORIAN GOVERNMENT STOCK CERTIFICATE. This is to certify that the bearer* Pounds. is entitled to pounds of Victorian Government stock, subject to the provisions of the Acts in that behalf and to the regulations affecting the same. £ Melbourne, 18 · (Signed) G.E., Treasurer. This certificate is transferable by delivery so long as the blank is not filled up. But the transfer may be restricted by the insertion of a name, with address and quality in full. The coupons are payable at the Treasury or any of its country branches. Government stock, in exchange for the like sum of stock certificates delivered up, as under, viz.: |