New South Wales Repealed Regulations

This legislation has been repealed.

PUBLIC AUTHORITIES (FINANCIAL ARRANGEMENTS) REGULATION 2013 - REG 24

24 Transmission on death otherwise than to surviving joint owner

(1) A person on whom an owner's (other than a joint owner's) interest in inscribed stock has devolved by operation of law as a result of the owner's death may apply to the registrar of the relevant authority to be registered as the owner of the inscribed stock.

(2) Such an application must be made in the approved form and must be accompanied by:

(a) a probate copy of the deceased owner's will, or

(b) letters of administration of the deceased owner's estate.

(3) The registrar may waive the requirement for documents referred to in subclause (2) if instead the applicant:

(a) provides each of the following documents:

(i) an original or a duly certified copy of the relevant death certificate or, where there is no such certificate, such other evidence of the deceased owner's death as may be acceptable to the registrar,

(ii) if there is a relevant will, an original or a duly certified copy of the will,

(iii) a statutory declaration made by the applicant in accordance with subclause (4),

(iv) any other document the registrar may require, and

(b) if the face value of the inscribed stock exceeds $10,000, provides security to the satisfaction of the registrar against any liability that the authority may incur as a consequence of the transmission of the stock in accordance with the application.

(4) A statutory declaration referred to in subclause (3) (a) (iii) must state the following:

(a) that the applicant knew the deceased owner,

(b) that the deceased owner lived under the name specified in the declaration,

(c) that the deceased owner lived at the address specified in the declaration,

(d) that the applicant is not aware of any claim against the estate of the deceased owner that remains unsatisfied,

(e) that the applicant does not intend to apply for a grant of probate or letters of administration in respect of the estate of the deceased owner.

(5) On registering the applicant as the owner of the inscribed stock, the authority's registrar must forward to the applicant a notice to that effect in an approved form.