New South Wales Repealed Regulations

This legislation has been repealed.

PUBLIC AUTHORITIES (FINANCIAL ARRANGEMENTS) REGULATION 2013 - REG 40

40 Debentures exchanged for stock

(1) On application in an approved form for the inscription of stock in exchange for debentures or loan certificates, an authority's registrar:

(a) must inscribe stock of the same currency and rate of interest as, and for the same amount as, the debentures or loan certificates surrendered, and

(b) must forward a notification of inscription, in accordance with an approved form, to the person in whose name the stock is inscribed, and

(c) must issue a receipt, in an approved form, for the surrendered debentures or loan certificates.

(2) A debenture of an authority surrendered under this clause with interest coupons attached must, after cancellation, be forwarded by the registrar to an authorised officer of the authority.