{"id":"F2025L01133","name":"Loans Securities Regulations 2025","slug":"loans-securities-regulations-2025","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":442974,"registerId":"F2025L01133-fast-fetch-1775957894316","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Loans Securities Regulations 2025","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n![Commonwealth Coat of Arms of Australia](image.001.jpeg)\n\n \n\nLoans Securities Regulations 2025\n\nI, the Honourable Sam Mostyn AC, Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.\n\nDated    18 September 2025\n\nSam Mostyn AC\n\nGovernor‑General\n\nBy Her Excellency’s Command\n\nDr Daniel Mulino\n\nAssistant Treasurer  Minister for Financial Services\n\n \n\n \n\n \n\n \n\n \n\n \n\nContents\n\nPart 1—Preliminary\n\n1 Name\n\n2 Commencement\n\n3 Authority\n\n4 Schedules\n\n5 Definitions\n\nPart 2—Lost, stolen, destroyed or mutilated securities\n\n6 Paying out lost, stolen, destroyed or mutilated securities\n\n7 Delegation\n\nSchedule 1—Repeals\n\nLoans Securities Regulation 2015\n\n \n\nPart 1—Preliminary\n\n \n\n1  Name\n\n  This instrument is the Loans Securities Regulations 2025.\n\n2  Commencement\n\n (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.\n\n \n\n- Commencement information\n- Column 1 Column 2 Column 3\n- Provisions Commencement Date/Details\n- 1. The whole of this instrument 1 October 2025. 1 October 2025\n\n\nNote: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.\n\n (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.\n\n3  Authority\n\n  This instrument is made under the Loans Securities Act 1919.\n\n4  Schedules\n\n  Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.\n\n5  Definitions\n\nNote: The expression security, used in this instrument, is defined in the Act.\n\n  In this instrument:\n\nAct means the Loans Securities Act 1919.\n\nPart 2—Lost, stolen, destroyed or mutilated securities\n\n \n\n6  Paying out lost, stolen, destroyed or mutilated securities\n\n (1) An owner of a security may apply to the Treasurer to have the security paid out if the security is accidentally lost, stolen, destroyed or mutilated before it is paid off.\n\n (2) The Treasurer may authorise payment of the security and any unpaid interest on the security to the owner if:\n\n (a) the Treasurer is satisfied that the security is lost, stolen, destroyed or mutilated; and\n\n (b) the owner gives an indemnity bond to the satisfaction of the Treasurer to indemnify the Commonwealth against double payment of the security, including any interest on the security.\n\nNote: Terms and conditions determined for the purposes of section 3 of the Act may also affect the paying out of a security that is lost, stolen, destroyed or mutilated before it is paid off.\n\n7  Delegation\n\n (1) The Treasurer may, in writing, delegate any or all of the powers or functions of the Treasurer under this instrument to an SES employee in the Department.\n\n (2) In exercising powers or performing functions under a delegation, the delegate must comply with any directions of the Treasurer.\n\nSchedule 1—Repeals\n\n \n\nLoans Securities Regulation 2015\n\n1  The whole of the instrument\n\nRepeal the instrument.\n\n \n","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"This instrument repeals the Loans Securities Regulation 2015 (Schedule 1) and confines new regulation to the procedure for paying out lost, stolen, destroyed or mutilated securities and delegation of powers (ss6–7). That replaces the prior instrument’s regulatory framework with a narrower set of rules that centralise payment decisions and indemnity requirements with the Treasurer while relying on the Act for definitions and additional terms."},"complexity_factors":["Small number of provisions, limited subject matter (lost/stolen/destroyed/mutilated securities)","Discretionary Treasurer approval and indemnity bond requirement (s6) increasing administrative discretion","Delegation to an SES employee with requirement to follow Treasurer directions (s7)","Cross-reference to the Loans Securities Act 1919 and to terms under section 3 of the Act (s3 note in s6), creating dependence on external provisions","Complete repeal of the prior Loans Securities Regulation 2015 by Schedule 1, shifting regulatory content without detailed transitional rules"],"plain_english_summary":"These Regulations replace the 2015 rules and set a narrow process for paying out securities accidentally lost, stolen, destroyed or mutilated. An owner may apply; the Treasurer may authorise payment only if satisfied and if the owner provides an indemnity bond to protect against double payment (s6). The Treasurer may delegate powers to an SES employee (s7). Owners bear the compliance cost of the indemnity and the Treasurer’s discretion determines timing and risk allocation."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The legislation maintains the same narrow scope as its predecessor — dealing specifically with lost, stolen, destroyed or mutilated government securities. It is a direct remake of the 2015 Regulations without expansion into new areas."},"complexity_factors":["Very short instrument (only 7 substantive sections plus preliminary matters)","Only 2 defined terms ('Act' and reference to 'security' defined in parent Act)","Simple conditional structure (section 6: if X and Y, then Z)","No nested exceptions or complex cross-referencing","Single Schedule containing only a repeal","Straightforward delegation provision without elaborate conditions"],"plain_english_summary":"This instrument replaces the 2015 rules and sets how the Treasurer deals with lost, stolen, destroyed or damaged Australian Government securities before maturity. It allows the Treasurer (or delegated SES officers) to pay out holders who can’t produce the physical security, provided they’re satisfied and the claimant gives an indemnity to protect the government against double payment.\n\nIt affects holders of Commonwealth bonds/loans and Treasury officials processing claims, restoring a safety net for lost or destroyed certificates."}},"importantCases":[],"_links":{"self":"/api/acts/loans-securities-regulations-2025","history":"/api/acts/loans-securities-regulations-2025/history","analysis":"/api/acts/loans-securities-regulations-2025/analysis","conflicts":"/api/acts/loans-securities-regulations-2025/conflicts","importantCases":"/api/acts/loans-securities-regulations-2025/important-cases","documents":"/api/acts/loans-securities-regulations-2025/documents"}}