Northern Territory Consolidated Regulations Northern Territory Consolidated Regulations(1) Except where the owner of stock has applied to convert stock under regulation 9, on redemption of the stock the Corporation is to repay the principal, in accordance with the provisions of the application to purchase stock, in favour of the owner.
(2) Subject to regulation 32, where the registrar receives a direction in writing executed by:
(a) the owner of stock; or
(b) in the case of a minor who is an owner of stock, his or her parent or guardian acting on his or her behalf,
containing instructions for repayment of the principal other than as specified in the application under regulation 9(1)(c), the Corporation is to repay the principal in accordance with that direction.
(3) Payment or conversion in accordance with this regulation is a valid discharge to the Corporation.