Commonwealth Consolidated Regulations

COMMONWEALTH INSCRIBED STOCK REGULATIONS - REG 14

(1)

Where an applicant for the purchase of bearer securities requests that the bearer securities be delivered to a bank (including a savings bank), the equivalent amount of stock may, on application by the bank in writing, be inscribed in the name of the bank, but nothing in this regulation shall affect any obligation of a bank to deliver bearer securities to the purchaser thereof.

(2)

Where an applicant for the purchase of stock requests that the stock be inscribed in the name of a bank (including a savings bank), the stock may, on application by the bank in writing, be inscribed in the name of the bank.

(3)

Nothing in subregulation (2) affects any obligation of a bank to transfer stock to the purchaser thereof.