Commonwealth Consolidated Regulations

COMMONWEALTH INSCRIBED STOCK REGULATIONS - REG 66A

(1)

Section 12 of the Treasury Bills Act 1914 does not apply to bearer securities or to coupons issued in connexion with bearer securities.

(2)

Bearer securities, or coupons issued in connexion with bearer securities, that have been cancelled because they have been paid off and discharged or for any other reason shall be destroyed in the presence of an authorized person, who shall, when the destruction is complete, certify, by writing under his hand, that the bearer securities or coupons have been destroyed in his presence.

(3)

In this regulation, authorized person means a person authorized by the Secretary.