STATUTORY RULES.

1920. No. 2.

REGULATIONS UNDER THE WAS PRECAUTIONS ACT 1914–1918.

I, THE GOVERNOR-GENERAL in and over the Commonwealth, of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the War Precautions Act 1914–1918, to come into operation forthwith.

Dated this thirty-first day of December, 1919.

R. M. FERGUSON,

Governor-General.

By His Excellency’s Command,

E. J. RUSSELL,

for Minister of State for Defence.

Amendment of War Precautions (Companies, Firms and Businesses) Regulations.

(Statutory Rules 1916, No. 49, as amended by Statutory Rules 1916, No. 137, and by Statutory Rules 1917, Nos. 11, 35, 289 and 328, and by Statutory Rules 1918, Nos. 264 and 274, and by ‘Statutory Rules 1919, No. 96.)

1. Regulation 1a of the War Precautions (Companies, Firms and Businesses) Regulations is amended by adding at the end thereof the following definitions:—

“Capital” includes stock, shares, debentures, bonds or other securities;

“Foreign company” means any company which is incorporated in any country not being part of the British Empire;

“Foreign firms” means any firm which is registered in any country not being part of the British Empire;

“Registration” includes the filing or lodging of any document, or the taking of any step, which is required by the law of a State to be filed, lodged or taken before a company or firm can trade or carry on business in that State;

“Private company” or “proprietary company” means any company which under its memorandum or articles of association restricts the right to transfer its shares and limits the number of its shareholders (exclusive of persons who are in the employment of the company) to fifty persons.

2. Regulation 2 of the War Precautions (Companies, Firms and Businesses) Regulations is repealed and the following Regulation is inserted in its stead:—

Registration of firms private companies, &c., whose members or shareholders are not natural-born British subjects.

“2. If any person, without the consent in writing of the Treasurer of the Commonwealth, makes application for, or takes any steps to secure, the registration of—

(a) any private or proprietary company;

(b) the name of any private or proprietary company;

(d) any firm;

(e) the name of any firm; or

(f) the change of name or constitution of any firm,

any of the shareholders, partners or members of which are not natural-born British subjects, he shall be guilty of an offence.”

3. Regulation 3 of the War Precautions (Companies, Firms and Businesses) Regulations is repealed and the following Regulation is inserted in its stead:—

Registration of foreign companies or firms or of companies or firms to carry on business outside the Commonwealth.

“3. If any person, without the consent in writing of the Treasurer, takes or continues to take any steps towards the registration in any State—

(a) of any foreign company or firm;

(b) of any company or firm any of the capital of which has been subscribed by or on behalf of any person or body of persons ordinarily residing or carrying on business outside of the British Empire; or

(c) of any company or firm whose principal object is the carrying on of manufacturing, mining, or other industrial operations outside the Commonwealth and any territory of or under the control of the Commonwealth;

he shall be guilty of an offence.”

4. Regulation 4 of the War Precautions (Companies, Firms and Businesses) Regulations is repealed.

5. Regulation 5 of the War Precautions (Companies, Firms and Businesses) Regulations is repealed and the following Regulation is inserted in its stead:—

Issue of capital or sale of shares or assets to persons outside British Empire.

“5. If any person, company or firm, without the consent in writing of the Treasurer of the Commonwealth,

(a) makes an issue of capital; or

(b) transfers or disposes of the shares or assets (other than stock in trade) of any company or firm incorporated or registered in the Commonwealth,

to—

(i) any person or body of persons, or

(ii) the nominee or representative of any person or body of persons

ordinarily residing or carrying on business outside of the British Empire, such person, or such company or firm, as the case may be, shall be guilty of an offence.”

6. Regulation 5b of the War Precautions (Companies, Firms and Businesses) Regulations is amended by inserting therein, after sub-regulation (3.) the following sub-regulation:—

“(4) The consent of the Treasurer to any application made under these regulations shall not be made use of by any company or firm, or by any person on its behalf, in furtherance of the objects of the company or firm, and any public notification of the fact of such consent shall include a statement in the following terms:—

‘The fact that the Treasurer of the Commonwealth has consented to (here insert the nature of the consent granted) is not to be taken in any way as a guarantee of the actual or probable financial stability or success of the company or firm.’”

7. Regulation 5d of the War Precautions (Companies, Firms and Businesses) Regulations is repealed and the following regulation is inserted in its stead:—

Consent of Treasurer: how obtained.

“5d. Before the consent of the Treasurer of the Commonwealth is given to any application made under these Regulations there shall be furnished to the Treasurer in writing particulars of the proposal and such further information as the Treasurer requires.”

Printed and Published for the Government of the Commonwealth of Australia by Albert J. Mullett, Government Printer for the State of Victoria.