Commonwealth Numbered Regulations

1989 No. 149 TELECOM AUSTRALIA STOCK REGULATIONS - REG 22

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

   (a)  in the manner set out in the prospectus inviting applications to
        purchase stock; or

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

   (c)  in a manner approved by Telecom 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)  in the manner set out in the prospectus inviting applications to
        purchase stock; or

   (b)  by cheque, payable to the person whose name is first inscribed in the
        Stock Ledger in respect of that stock, sent by post to that person to
        his or her address shown on the Stock Ledger; or

   (c)  in a manner approved by Telecom on application by that person 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.