STATUTORY RULES.
1959. No. 15
REGULATIONS UNDER THE TREATY OF PEACE (GERMANY) ACT 1919-1920.*
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 Treaty of Peace (Germany) Act 1919-1920.
Dated this 28th day of February, 1959.
W. J. Slim
Governor-General.
By His Excellency's Command,
Minister of State for Territories.
Amendments of the Treaty of Peace Regulations.†
Payment of instalments and interest on balance outstanding at 31st December, 1949.
1. Regulation 50aa of the Treaty of Peace Regulations is repealed.
2.—(1.) After regulation 58a of the Treaty of Peace Regulations the following regulation is inserted:—
Payment of instalments and interest in respect of sale of reverted property.
“58aa.—(1.) Notwithstanding anything contained in the last preceding regulation, but subject to this regulation—
(a) the balance of purchase money outstanding in respect of the sale of a property under a contract entered into in accordance with the last preceding regulation shall, notwithstanding anything contained in that contract, be paid by quarterly instalments calculated in accordance with sub-regulation (3.) or sub-regulation (4.), as the case requires, of this regulation; and
(b) interest calculated in accordance with sub-regulation (5.) or sub-regulation (6.), as the case requires, of this regulation shall be paid quarterly on the unpaid balance of purchase money outstanding on the first day of the last preceding quarter.
* Notified in the Commonwealth Gazette on 5th March, 1959.
† Statutory Rules 1920, No. 25, as amended by Statutory Rules 1920, No. 235; 1921, Nos. 13, 46, 78, 85, 109, 180, 200 and 232; 1922, Nos. 36, 65, 66, 121, 187 and 191; 1923, Nos. 60, 63, 151, 180, 181 and 182; 1924, Nos. 31, 46, 58, 78 and 133; 1925, Nos. 15, 21 and 201; 1926, Nos. 24, 36, 59, 78, 104, 140, 164, 192 and 193; 1927, Nos. 40, 53, 76 and 123; 1928, Nos 10, 34, 67 and 68; 1929, Nos. 7, 8, 73 and 111; 1930, Nos. 19, 39 and 144; 1933, No. 3; 1936, No. 83; 1937, No. 109; and 1951, No. 31.
8128/58.—Price 5d. 9/10.2.1959.
“(2.) The purchaser of a property under a contract referred to in the last preceding sub-regulation shall complete the payment of the full amount of the purchase money and interest on the purchase money on or before the thirtieth day of June, One thousand nine hundred and seventy-five.
“(3.) Where the purchaser of a property is an Australian soldier, the amount of each instalment payable by him under sub-regulation (1.) of this regulation shall, in respect of each One thousand pounds of the total amount of purchase money that was outstanding after the payment of the deposit and any other amount required to be paid by the purchaser as a condition precedent to the right to possession of the property, be calculated at the rate specified in column 2 of the Third Schedule to these Regulations opposite to the rate specified in column 1 of that Schedule which is the average price per ton of plantation hot-air dried copra during the last preceding quarter.
“(4.) Where the purchaser of a property is not an Australian soldier, the amount of each instalment payable by him under sub-regulation (1.) of this regulation shall, in respect of each One thousand pounds of the total amount of purchase money that was outstanding after the payment of the deposit and any other amount required to be paid by the purchaser as a condition precedent to the right to possession of the property, be calculated at the rate specified in column 4 of the Third Schedule to these Regulations opposite to the rate specified in column 1 of that Schedule which is the average price per ton of plantation hot-air dried copra during the last preceding quarter.
“(5.) Where the purchaser of a property is an Australian soldier, the rate of interest payable by him under sub-regulation (1.) of this regulation shall be the rate specified in column 3 of the Third Schedule to these Regulations opposite to the rate specified in column 1 of that Schedule which is the average price per ton of plantation hot-air dried copra during the last preceding quarter.
“(6.) Where the purchaser of a property is not an Australian soldier, the rate of interest payable by him under sub-regulation (1.) of this regulation shall be the rate specified in column 5 of the Third Schedule to these Regulations opposite to the rate specified in column 1 of that Schedule which is the average price per ton of plantation hot-air dried copra during the last preceding quarter.
“(7.) For the purposes of this regulation, ‘the average price per ton of plantation hot-air dried copra during the last preceding quarter’ means—
(a) one-third of the sum of the amounts declared, for the purposes of the Customs (Copra Export) Tariff 1958 of the Territory of Papua and New Guinea, by the Administrator of the Territory of Papua and New Guinea in each of the three months preceding the date on which the payment of an instalment or interest is to be made, to be the assessed value per ton of copra exported from the Territory during each of those months; or
(b) where, in any month, the Administrator does not declare an amount for the purposes of that Tariff, an amount declared by the Minister, by notice in the Government Gazette of the Territory of Papua and New Guinea, to be the average price per ton of plantation hot-air dried copra during the three months preceding the date on which the payment of an instalment or interest is to be made.”.
(2.) Instalments of purchase money and payments of interest under the provisions of the Treaty of Peace Regulations, as amended by these Regulations, shall be calculated in accordance with those provisions as from the first day of April, 1959, and the first day of July, 1959, respectively.
The Third Schedule.
3. The Third Schedule to the Treaty of Peace Regulations is repealed and the following Schedule inserted in its stead:—