Commonwealth Numbered Regulations

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1981 No. 8 PIPELINE AUTHORITY (T.P.A. STOCK) REGULATIONS - REG 22

Payment of interest
22. (1) Where stock is inscribed in the name of one person, interest on the
stock may be paid-

   (a)  by cheque, payable to the person, sent by post to the person to his
        address shown on the Stock Ledger; or

   (b)  in a manner approved by the Authority on application by the person in
        accordance with an approved form lodged at the Registry at which the
        stock is inscribed.

(2) Where stock is inscribed in the name of more than one person, interest on
the stock may be paid-

   (a)  by cheque, payable to the persons in whose names the stock is
        inscribed in the Stock Ledger, sent by post to the persons at the
        address shown on the Stock Ledger; or

   (b)  in a manner approved by the Authority on application by the persons in
        accordance with an approved form lodged at the Registry at which the
        stock is inscribed.

(3) Any one of the persons in whose names stock is inscribed may give a valid
receipt for interest.

(4) The provisions of this regulation do not apply to the extent (if any) to
which the terms and conditions of the issue of the stock otherwise provide. 


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