when such register is closed under the provisions of these rules shall on every business day between the hours of 10 a.m. and 12 noon be open to any stockholder for inspection without charge and to any other person on payment of two shillings and sixpence (2s. 6d.) or such less sum as the Board may prescribe for such inspection.
6. Closing of register. The Authority may, on giving notice by advertise- ment in some newspaper circulating in Brisbane, close the register or any register for any time or times not exceeding in the whole forty-two ( 42) days in each year.
7. Alteration of register by Court. ( 1) I f -
(a) The name of any person is without sufficient cause entered in or omitted from a register of the Authority; or
(b) Default is made or unnecessary delay takes place in entering in a register the fact of any person having become or ceased to be a stockholder,
the person aggrieved or any stockholder or the Authority may apply to the Supreme Court for rectification of the Register.
( 2) When any application is made under this rule, the Court may either refuse the application or may order rectification of the register and payment by the Authority of any damages sustained by any party aggrieved.
SOUTHERN ELECTRIC AUTHORITY, ETC., ACTS Sch.I 53
( 3) On any application under this rule, the Court may decide any question relating to the title of any person who is a party to the application to have his name entered in or omitted from any register, whether the question arises between stockholders or alleged stockholders or between stockholders or alleged stockholders on the one hand and the Authority on the other hand and generally may decide any question necessary or expedient to be decided for rectification of the register.
As amended by notification published Gazette 10 November 1962, pp. 827-8.
8. Trusts not to be entered in register. (1) No notice of any trust expressed, implied or constructive shall be entered in the register.
(2) The Authority shall be entitled to treat a registered stockholder as absolute owner of the stock and no person shall be recognised by the Authority as holding any stock upon any trust, and the Authority shall not be bound by or recognise any equitable, contingent, future or partial interest in any stock or (except only as by the rules otherwise expressly directed) any other right in respect of the stock except an absolute right to the entirety thereof in the registered holder.
( 3 ) Without prejudice to the provisions of the Act or the rules relating to the disposal and transfer of stock and notice of trusts it is intended that equitable interests may be enforced against stockholders in respect of stock in the same manner as in respect of any other personal property.
9. Register prima facie evidence. Every register shall be prima facie evidence of any matter by the rules or otherwise directed or authorised to be inserted therein and shall constitute the title of every stockholder to the stock registered in his name.
10. Branch registers. ( 1) The Authority may cause to be kept in any part of the British Commonwealth of Nations beyond Queensland, a branch register of stockholders or of V. I. stockholders or of holders of any series or issue of debentures or stock.
( 2) Every branch register shall be deemed to be a part of the Authority's register (in this rule called "the principal register").
( 3) It shall be kept in the same manner in which the principal register is by the rules required to be kept except that the advertisement before closing the register shall be inserted in some newspaper circulating in the part of the British Commonwealth of Nations wherein the branch register is kept.
( 4) The Authority shall transmit to its office in Queensland a copy of every entry in any branch register or registers as soon as may be after the entry is made and shall cause to be kept at its office, duly entered up from time to time, a duplicate of every branch register or registers and every such duplicate shall, for all purposes, be deemed to be a part of the principal register.
( 5) Subject to the provisions of this rule with respect to duplicate registers, stock registered in a branch register shall be distinguished from stock registered in the principal register and no transaction with any stock in a branch register shall, during the continuance of that register, be registered in any other register.
(6) The Authority, at the request of any stockholder, may transfer any stock from any branch register to the principal register or to any other branch register, or from the principal register to any branch register.
54 Sch.I SOUTHERN ELECTRIC AUTHORITY, ETC., ACTS
(7) The Authority may discontinue to keep any branch register and thereupon all entries in that register shall be transferred to some other branch register kept by the Authority or the principal register.
(8) After the opening of any branch register, every stock certificate and debenture shall contain a notification that any transfer of the stock named therein or the debenture will be registered only at the principal office in Queensland or in a particular branch register, naming it, and such transfer shall be registered accordingly and not otherwise.
11. Joint holders. If two or more persons are registered as joint holders of stock any one of such persons may give effectual receipts for any debenture or stock certificate or for any interest or other moneys payable in respect of such stock.
12. Delivery of debentures. Debentures and stock certificates for stock registered in the names of two or more persons shall be delivered to the person first named in the register in respect thereof unless such joint holders otherwise direct.
13. ( 1) Stock may be allotted or issued or transferred to or registered in the name of any friendly society or trade union registered under the laws of Queensland or any other State or any branch of a friendly society or trade union so registered.
(2) An application for stock, or for the allotment or issue of stock or a transfer by or to a friendly society or trade union or branch, shall contain such particulars as may be required by the Authority and shall be signed by such two or more persons as are appointed in that behalf by the society, trade union, or branch as the case may be.
( 3) Certificates, receipts, and other documents relating to stock registered in the name of a friendly society or union or branch, inay be issued to such person or persons as the society, trade union, or branch as the case may be appoints in that behalf.
( 4) No transactions under this Rule shall be effected in relation to stock registered under this Rule, unless they are authorised by the persons appointed by the society, trade union, or branch as the case may be in accordance with subclause (2) of this Ru1e.
( 5) Whenever an application for stock or for the allotment or issue of stock or for the delivery of certificates, receipts, or other documents is made by a friendly society, trade union, or branch or a transfer of stock to a friendly society, trade union, or branch is delivered to the Authority, there shall be furnished to the Authority a certificate in such form as the Authority may require, certifying the appointment of some person or persons for the purpose.
Substituted by notification published Gazette 10 November 1962, pp. 827-8.
14. In case of the death of a stockholder, the survivor or survivors where the deceased was a joint holder, and the legal personal representatives of the deceased where he was a sole holder, shall be the only persons recognised by the Authority as having any title to his interest in the stock, but nothing herein contained shall release the estate of a deceased joint holder from any liability in respect of any stock which had been jointly held by him with other persons.
Substituted by notification published Gazette 10 November 1962, pp. 827-8.
15. ( 1) Any person becoming entitled to stock in consequence of the death or bankruptcy of a stockholder may, upon such evidence being produced as may from time to time properly be required by the Board,
SOUTHERN ELECTRIC AUTHORITY, ETC., ACTS Sch. I 55 and subject as hereinafter provided, elect either to be registered himself as holder of the stock or to have some person nominated by him registered as the transferee thereof, but the Board shall, in either case, have the same right to decline or suspend registration as they would have had in the case of a transfer of the stock by that stockholder before his death or bankruptcy.
(2) If the person so becoming entitled elects to be registered himself, he shall deliver or send to the Authority a notice in writing signed by him stating that he so elects. If he elects to have another person registered, he shall testify his election by execuiing to that person a transfer of the stock. All the limitations, restrictions, and provisions of these Rules relating to the right to transfer and the registration of transfers of stock, shall be applicable to any such notice or transfer as aforesaid as if the death or bankruptcy of the stockholder had not occurred and the notice or transfer were a transfer signed by that stockholder.
Substituted by notification published Gazette 10 November 1962, pp. 827-8.
16. Where the registered holder of any stock dies or becomes bankrupt, his personal representative or the assignee of his estate as the case may be shall, upon production of such evidence as may from time to time be properly required by the Board in that behalf, be entitled to the same interest and other advantages and to the same rights (whether in relation to meetings of stockholders or to voting or otherwise) as the registered holder would have been entitled to if he had not died or become bankrupt, and where two or more persons are jointly entitled to any stock in consequence of the death of the registered holder they shall for the purpose of these Rules be deemed to be joint holders of the stock:
Provided that the Authority shall be at liberty to retain the interest payable on any stock until such person shall himself be registered as holder of the stock or some person nominated by him registered as the transferee thereof.
Substituted by notification published Gazette 10 November 1962, pp. 827-8.
17. The interest upon stock may be paid by cheque payable to the holder or joint holders or some one or more of them or to such person or persons as the holder or joint holders may direct and payment of the cheque shall be in satisfaction of the interest. A cheque may be sent through the post to the registered address of the holder, or in the case of joint holders the registered address of one or more of them or to the address of any person or persons as aforesaid. At the request of any holder or joint holders interest may in the discretion of the Authority be paid by cheque placed to the credit of any Bank of the holder or in the case of joint holders any one or more of them or of any such person or persons as aforesaid and payment of the cheque shall be in satisfaction of the interest.
Substituted by notification published Gazette 10 November 1962, pp. 827-8.