Western Australian Consolidated Regulations Western Australian Consolidated Regulations (1) An application to
subscribe for or purchase debt paper under an offer or invitation made by the
Corporation shall be made in a form approved by the registrar, completed and
signed by the applicant, and lodged —
(a) in
the manner specified in that offer or invitation; or
(b) if
no manner is specified in that offer or invitation, with the Corporation.
(2) The full amount of
the subscription for or purchase price of the debt paper applied for under
subregulation (1) shall be paid at the time of making that application,
unless —
(a) the
Corporation approves a payment by way of deposit; or
(b)
payment is made of such amount and in such manner as is required by the offer
or invitation made by the Corporation, but no debt paper shall be issued and
no inscription of stock effected until the full amount of the subscription or
purchase price has been received by the Corporation.
(3) The Corporation on
receipt of a deposit referred to in subregulation (2)(a) shall issue a
document that constitutes an acknowledgement of that deposit and, as soon as
may be convenient after receipt of the full amount of the relevant
subscription or purchase price, shall issue the required debt paper to the
applicant or effect the inscription of the name of the applicant as to the
required amount of stock, as the case requires.
(4) If payment of the
full amount of the relevant subscription or purchase price is not made, the
balance payable shall be paid in such manner as is required by the offer or
invitation made by the Corporation, and, unless otherwise provided in that
offer or invitation, if any such payment is not received, the Corporation,
after giving 14 days’ notice in writing to the applicant and
without prejudice to its right to recover unpaid amounts, may —
(a)
decline to give effect to the application concerned;
(b) if
the application concerned relates to a holding in respect of which part
payment has been made, forfeit the right to the issue or inscription;
(c)
issue debt paper to the applicant to the extent that the moneys which have
been received represent debt paper on which the full amount of the
subscription or purchase price has been paid;
(d)
apply the moneys received, and any moneys received in respect of a
re‑issue or re‑allocation, in so far as not expended in accordance
with paragraph (c) —
(i)
in payment of expenses incurred in respect of the
application or re‑issue or re‑allocation; and
(ii)
in satisfaction of any moneys due to the Corporation from
the applicant or former holder in respect to any matter,
and repay the balance,
if any, to the applicant or former holder; or
(e)
re‑allocate debt paper, in respect of which the right of a person to its
issue or inscription has been forfeited, to any other person,
or exercise any 2 or
more of the powers referred to in paragraphs (a) to (e).
[(5) deleted]
(6) In the case of a
joint account, an application to subscribe for or purchase any debt paper
shall set out the names of the applicants in the order in which it is desired
that they shall be registered.
[Regulation 4 amended in Gazette
10 Nov 1998 p. 6160.]
[ 5. Deleted in Gazette 10 Nov 1998
p. 6160.]