{"id":"northern-territory-treasury-corporation-inscribed-stock-regulations-1998","name":"NORTHERN TERRITORY TREASURY CORPORATION INSCRIBED STOCK REGULATIONS 1998","slug":"northern-territory-treasury-corporation-inscribed-stock-regulations-1998","collection":"regulation","jurisdiction":"nt","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":177062,"registerId":"nt-northern-territory-treasury-corporation-inscribed-stock-regulations-1998-current","compilationNumber":null,"startDate":"2026-04-05","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"NORTHERN TERRITORY TREASURY CORPORATION INSCRIBED STOCK REGULATIONS 1998","content":"NORTHERN TERRITORY OF AUSTRALIA\nNORTHERN TERRITORY TREASURY CORPORATION INSCRIBED\nSTOCK REGULATIONS 1998\nAs in force at 3 March 2004\nTable of provisions\nPart 1 Preliminary\n1 Citation ............................................................................................ 1\n2 Definitions ........................................................................................ 1\nPart 2 Establishment of register of inscribed\nstock\n3 Register and registry ....................................................................... 2\n4 Registrar and staff ........................................................................... 3\n5 Contents of register ......................................................................... 3\n6 Stock owner identification ................................................................ 3\nPart 3 Issue of inscribed stock\n7 Issue of stock .................................................................................. 3\n8 Conditions of issue .......................................................................... 3\n9 Applications ..................................................................................... 4\nPart 4 Inscription, transmission and transfer of\nstock\n10 Particulars of inscription of stock ..................................................... 5\n11 Powers of attorney........................................................................... 6\n12 Authorised signatories ..................................................................... 6\n13 Dealings with minors ....................................................................... 7\n14 Specimen signature ......................................................................... 7\n15 Documents executed by corporations ............................................. 8\n16 Procedure where registrar not satisfied as to the genuineness\nof signature or transaction ............................................................... 8\n17 Procedure where person unable to sign name ................................ 8\n18 Notice of joint owners ...................................................................... 8\n19 Address of owners ........................................................................... 8\n20 Correction of register ....................................................................... 9\n21 Inspection of register ....................................................................... 9\n22 Alteration of name ........................................................................... 9\n23 Certificates .................................................................................... 10\n\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 ii\nPart 5 Transmission and transfer of stock\n24 Death or bankruptcy of owner ....................................................... 10\n25 Inscription on transmission ............................................................ 12\n26 Transfers ....................................................................................... 13\n27 Instruments of transfer .................................................................. 13\n28 Marking of transfers ....................................................................... 14\nPart 6 Payment of interest and redemption of\nstock\n29 Closing of register and payment of interest and principal .............. 15\n30 Interest on stock ............................................................................ 15\n31 Redemption of stock ...................................................................... 16\n32 Directions and notification ............................................................. 17\nPart 7 Miscellaneous\n33 Stock owner by Corporation .......................................................... 17\n34 Preservation and destruction of records ........................................ 17\n35 Transitional .................................................................................... 18\nENDNOTES\n\n\n\nNORTHERN TERRITORY OF AUSTRALIA\n____________________\nAs in force at 3 March 2004\n____________________\nNORTHERN TERRITORY TREASURY CORPORATION INSCRIBED\nSTOCK REGULATIONS 1998\nRegulations under the Northern Territory Treasury Corporation Act 1994\nPart 1 Preliminary\n1 Citation\nThese Regulations may be cited as the Northern Territory Treasury\nCorporation Inscribed Stock Regulations 1998.\n2 Definitions\nIn these Regulations, unless the contrary intention appears:\nauthorised signatory means a person authorised to sign on behalf\nof an owner of stock by an instrument lodged with the registrar\nunder regulations 12.\nconvert, in relation to stock, means to reinvest the principal due to\nbe paid in respect of maturing stock into another issue.\ninterstate agent means a person, in a State or another Territory of\nthe Commonwealth, appointed by the Corporation to perform in the\nState or Territory activities of the registrar.\njoint owner, in relation to stock, means a person inscribed in a\nregister in accordance with regulation 10(3)(b).\nmaturity date means the day on which stock matures and the\nprincipal is repayable by the Corporation to the owner of the stock.\nminor means:\n(a) a person who has not attained the age of 16 years; or\n(b) where another age is specified in a prospectus to be the age\nat which a person ceases to be a minor, in relation to the\nstock to which that prospectus relates, a person who has not\nattained that age.\n\nPart 2 Establishment of register of inscribed stock\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 2\nowner, in relation to stock, means the person whose name is\ninscribed in the register as the owner of the stock, and includes a\njoint owner.\nprincipal, in relation to stock, means:\n(a) the face value of the stock applied for; or\n(b) in respect of stock repaid on a credit foncier basis, the value\nof stock outstanding at the date on which the stock is\nredeemed.\nregister means the register established under regulation 3(1)(a).\nregistrar means the registrar appointed under regulation 4(1).\nregistry means the office premises established and maintained\nunder regulation 3(1)(b).\nstock means inscribed stock of the Corporation.\nPart 2 Establishment of register of inscribed stock\n3 Register and registry\n(1) The Corporation is to cause to be established and maintained:\n(a) a register; and\n(b) office premises in which the register is to be kept.\n(2) The registrar is to keep the register in a form, including an\nelectronic form, approved by the Corporation.\n(3) The registrar is to enter in the register all transactions in respect of\nstock, including:\n(a) particulars of sales of stock to original purchasers;\n(b) transmissions of stock;\n(c) transfers of stock;\n(d) stock redeemed; and\n(e) stock converted.\n\nPart 3 Issue of inscribed stock\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 3\n4 Registrar and staff\n(1) The Corporation is to appoint a registrar, interstate agents and\nother staff necessary for the proper conduct of the registry.\n(2) The registrar is to give instructions to, and may confer powers on,\ninterstate agents, that are reasonably necessary for the proper\nmaintenance of the register.\n5 Contents of register\nThe registrar is to record in the register, in relation to each owner of\nstock:\n(a) the owner's name and address;\n(b) the amount of stock owned;\n(c) the interest rate applicable to the stock owned;\n(d) the maturity date applicable to the stock owned; nd\n(e) other details determined by the Corporation.\n6 Stock owner identification\nThe registrar is to ensure the register enables the account of each\nowner in the register to be readily identified.\nPart 3 Issue of inscribed stock\n7 Issue of stock\nThe Corporation may issue securities by way of inscribed stock,\ncalled Northern Territory Treasury Corporation Inscribed Stock:\n(a) to raise, by way of loan, money that the Corporation may\nborrow under the Act; and\n(b) to convert a loan raised by the Territory or the Corporation\ninto another loan raised in accordance with paragraph (a).\n8 Conditions of issue\n(1) The Corporation is to determine:\n(a) the amounts in which;\n(b) the prices at which; and\n\nPart 3 Issue of inscribed stock\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 4\n(c) the terms and conditions, including terms and conditions as to\nrates and interest, on which,\nstock may be issued and sold.\n(2) The Corporation, before issuing stock to the public, is to make\navailable a prospectus:\n(a) inviting applications to purchase the stock; and\n(b) setting out the price, terms and conditions of the issue of the\nstock, including terms and conditions as to rates and interest,\ndetermined by the Corporation.\n9 Applications\n(1) An application to purchase stock:\n(a) is to be made in writing to the registrar in a form determined\nby the Corporation;\n(b) is to include the full name of each applicant; and\n(c) is to specify how interest is to be paid and principal is to be\nrepaid.\n(2) An application, other than an application to convert maturing stock,\nis to be accompanied by a payment for the full amount of stock\napplied for, unless the Treasurer determines otherwise.\n(3) In the case of a joint application, the registrar is to record the\napplicant's names in the register in the order in which they appear\non the application.\n(4) The registrar is to issue an official acknowledgement of receipt of\nan application under subregulation (1):\n(a) to the person who lodged the application; or\n(b) in the case of a joint application, to the person whose name\nfirst appears on the application form.\n(5) A person may apply, in a form determined by the Corporation, to\nconvert stock.\n\nPart 4 Inscription, transmission and transfer of stock\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 5\nPart 4 Inscription, transmission and transfer of stock\n10 Particulars of inscription of stock\n(1) Subject to section 17 of the Act, the registrar is to register the\nindividual name of an executor, administrator or trustee, without\nreference to the individual's trusteeship.\n(2) Subject to section 17 of the Act, an owner of stock is to be taken to\nbe the legal and beneficial owner of the stock, and, subject to this\nPart, has the power to dispose of and transfer the stock.\n(3) The registrar is to inscribe stock:\n(a) in the name of one person only; or\n(b) where 2 or more persons make a joint application for the issue\nof stock, in those persons' names as joint owners.\n(4) Stock may be inscribed in the name of a corporation if, before the\nfirst inscription of stock in the name of the corporation, the\ncorporation supplies the registrar with:\n(a) a copy, authenticated under the seal of the corporation, of the\nCertificate of Incorporation, Constitution or Act under which\nthe corporation is constituted and the registrar is satisfied that\nthe corporation has been so constituted;\n(b) a specimen of the seal of the corporation certified by the\ncorporation; and\n(c) a copy, authenticated under the seal of the corporation, of the\nprovisions of the document in accordance with which the\ncorporation may affix its seal.\n(5) The registrar may inscribe stock in the name of an unincorporated\nassociation or partnership if it has supplied the registrar with a\ncertificate containing the names and signatures of 2 or more\npersons who are jointly appointed and authorised by the\nunincorporated association or partnership to act on its behalf.\n(6) The registrar may require from the persons described in the\ncertificate referred to in subregulation (5) a declaration that they\nhave not received notice of revocation of the appointment.\n\nPart 4 Inscription, transmission and transfer of stock\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 6\n11 Powers of attorney\n(1) Subject to these Regulations, the registrar may act on a power of\nattorney if:\n(a) under the power of attorney the attorney has power to apply\nfor, or to deal with, sell, purchase or convert, stock; and\n(b) a copy of, or an extract from, the power of attorney has been\nverified by a person approved by the registrar and the copy or\nextract has been lodged with the registrar.\n(2) Before acting on a power of attorney the registrar may require from\nthe attorney a declaration that the attorney has not received notice\nof, or otherwise become aware of, the revocation of the power of\nattorney, whether by express revocation or by the death of the\ndonor of the power or otherwise.\n(3) The registrar is to retain and file all copies of powers of attorney.\n(4) Where the registrar acts on a power of attorney in accordance with\nthis regulation, he or she is not bound to enquire any further into\nthe authority of the attorney to sign or act on behalf of the owner.\n12 Authorised signatories\n(1) An owner of stock may lodge with the registrar an instrument, duly\nexecuted by the owner, specifying a person or persons authorised\nto sign on his or her behalf and the registrar may act on the\ninstrument accordingly.\n(2) In the case of joint ownership, an instrument for the purposes of\nsubregulation (1) is to be duly executed, where the instrument\nspecifies the person is to be authorised to sign on behalf of:\n(a) all joint owners – by all joint owners; or\n(b) one of the joint owners – by that owner.\n(3) Before acting on an instrument appointing an authorised signatory,\nthe registrar may require from him or her a declaration that the\nsignatory has not received notice of, or otherwise become aware of,\nthe revocation of the instrument, whether by express revocation, by\nthe death of the owner of the stock or otherwise.\n(4) The registrar is to retain and file each instrument appointing an\nauthorised signatory.\n\nPart 4 Inscription, transmission and transfer of stock\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 7\n(5) Where the registrar acts on an instrument in accordance with this\nregulation, he or she is not bound to enquire any further into the\nauthority of the authorised signatory to sign on behalf of the owner\nof the stock.\n13 Dealings with minors\n(1) Subject to subregulation (2), stock may be inscribed in the name of\na minor solely or in the name of a minor together with the name of\none or more adults as joint owners.\n(2) A minor may not:\n(a) apply for stock; or\n(b) transfer stock,\nwithout the consent of his or her parent or guardian.\n(3) The registrar is not to inscribe stock in the name of a person who\nthe registrar knows to be a minor, except in accordance with this\nregulation.\n(4) Where an adult applies for stock and for the stock to be inscribed in\nthe name of a minor, the registrar may inscribe the stock in the\nname of the minor.\n(5) The registrar is not bound to enquire as to the age of a person\nseeking to become an owner of stock.\n(6) Where the registrar has registered a minor as an owner of stock\notherwise than in accordance with this regulation, an act done, or a\nregistration or payment made, by the Corporation, is not for that\nreason alone invalidated.\n(7) Where the registrar has registered a minor as an owner of stock\notherwise than in accordance with this regulations and\nsubsequently becomes aware that the owner is a minor, the\nCorporation may redeem the stock immediately.\n14 Specimen signature\nThe following persons are to lodge a specimen signature at the\nregistry and to verify the signature in a manner approved by the\nCorporation:\n(a) an owner of stock;\n(b) an attorney of an owner of stock;\n\nPart 4 Inscription, transmission and transfer of stock\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 8\n(c) an authorised signatory;\n(d) a person described in the certificate referred to in\nregulation 10(5).\n15 Documents executed by corporations\n(1) A document required under these Regulations to bear the seal of a\ncorporation is to be sealed and witnessed in accordance with the\nrequirements of the instrument setting out the manner and form in\nwhich the corporation is to use its seal and witness its decisions.\n(2) The Corporation may require proof that a document has been\nsealed in accordance with the requirements of a document referred\nto in subregulation (1).\n(3) Notwithstanding subregulation (1), the registrar is not bound to\nenquire into the authority of a person to affix or attest a seal or of\nthe authenticity of a signature of that person.\n16 Procedure where registrar not satisfied as to the genuineness\nof signature or transaction\nWhere the registrar is not satisfied as to the genuineness of a\nsignature or a transaction, he or she is to advise the owner of the\nstock involved and is not to register the transaction until satisfied as\nto the genuineness of the signature or transaction.\n17 Procedure where person unable to sign name\nWhere a person is unable to sign his or her name, a document\nrequired for the purposes of these Regulations is to be executed by\nhim or her and attested in the manner determined by the registrar\nor the Corporation.\n18 Notice of joint owners\nA notice may be given to joint owners by notice given to the joint\nowner whose name appears first in the entry in the register relating\nto the stock held by the joint owners.\n19 Address of owners\n(1) Each owner of stock is to notify the registrar in writing of the\nowner's address and any change to the owner's address.\n(2) The registrar is to enter in the register an address or change of\naddress of which he or she has notice under subregulation (1).\n\nPart 4 Inscription, transmission and transfer of stock\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 9\n(3) Notwithstanding subregulation (1), the registrar need only note in\nthe register the address, or a change of address, of the joint owner\nwhose name first appears in the relevant entry in the register.\n(4) Subject to regulation 32, the registrar is to acknowledge receipt of a\nnotice of change of address.\n(5) Subject to regulation 32, on the registrar entering an address or\nchange of address on the register, the address or change of\naddress is to be the registered address of the owners.\n20 Correction of register\n(1) The registrar may, on receipt of a request in writing and if satisfied\nthat stock or the ownership of stock is incorrectly inscribed in the\nregister, amend the register accordingly.\n(2) The registrar may require that a statutory declaration as to the\ncircumstances of the incorrect inscription of the stock or ownership\nof stock be produced to him or her for the purposes of\nsubregulation (1).\n21 Inspection of register\n(1) An owner of stock, his or her attorney or authorised signatory, or,\nwhere the agent satisfies the registrar as to his or her authority, an\nowner's agent, may at all reasonable times inspect the account of\nthe owner at the registry.\n(2) A person referred to in subregulation (1) may, on payment to the\nregistrar of a reasonable fee, if any, determined by the Corporation,\nobtain an extract from the register of the account of the owner.\n22 Alteration of name\n(1) Where an owner of stock who is a natural person has altered his or\nher name, the registrar may, on receipt of a request in writing by\nthe owner, amend the register accordingly.\n(2) Where the name of an owner of stock who or which is:\n(a) a natural person;\n(b) an unincorporated association; or\n(c) a partnership,\nhas altered, the registrar may, on receipt of a request in writing by\nthe authorised signatories of the owner, amend the register\naccordingly.\n\nPart 5 Transmission and transfer of stock\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 10\n(3) Where the name of a corporation that is an owner of stock has\naltered, the registrar may, on receipt of a request in writing\naccompanied by:\n(a) a copy of a certificate of registration; or\n(c) other documentary proof of change of name approved by the\nCorporation,\namend the register accordingly.\n(4) Where the owner of stock is a statutory body or a statutory trust\nand its name is altered by or under the Act by or under which it is\nconstituted, the registrar is to amend the register accordingly.\n(5) The registrar may require further documentation in support of a\nrequest for the alteration of the name of an owner in the register.\n(6) A request for the alteration of a name in the register may be\naccompanied by a statutory declaration as to the previous name of\nan owner and the name to which that name has been changed.\n(7) Where the registrar alters the name of an owner in the register, he\nor she is to notify the owner accordingly.\n23 Certificates\n(1) An owner of stock may apply to the registrar, in a form approved by\nthe Corporation, for the issue of a stock certificate certifying the\nstock owned by the owner on the date specified in the certificate.\n(2) Where an owner of stock makes an application under\nsubregulation (1), the registrar may issue a stock certificate, in a\nform determined by the Corporation, accordingly.\n(3) An owner of stock may dispose of the stock whether or not he or\nshe has been issued a certificate under subregulation (2).\n(4) The registrar is to keep a record of each certificate issued under\nsubregulation (2).\nPart 5 Transmission and transfer of stock\n24 Death or bankruptcy of owner\n(1) Subject to subregulation (2), where a sole owner of stock dies, title\nto the stock vests in the deceased's personal representative.\n\nPart 5 Transmission and transfer of stock\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 11\n(2) A person claiming to be entitled to stock because of the death of\nthe sole owner of stock is, on production to the registrar of an\noriginal or attested copies of probate or letters of administration\nrelating to the deceased, or other evidence the registrar thinks fit,\nentitled to:\n(a) the stock;\n(b) interest on the stock; and\n(c) any other rights to which the owner would have been entitled\nif the owner had not died.\n(3) A person claiming to be entitled to stock because of the bankruptcy\nof an owner is, upon production to the registrar of an attested copy\nof the adjudication, order of sequestration or vesting order, entitled\nto:\n(a) the stock;\n(b) interest on the stock; and\n(c) any other rights to which the owner would have been entitled\nif the owner had not become bankrupt.\n(4) A person entitled to stock in pursuance of subregulation (2) or (3)\nmay, subject to the provisions of this Part relating to the inscription\nand transfer of stock, elect:\n(a) to be inscribed himself or herself as the owner of the stock –\nin which case he or she is to make an application under\nregulation 25; or\n(b) to have another person inscribed as the transferee of the\nstock – in which case he or she is to execute and deliver to\nthe registrar a transfer of stock in favour of that person in\naccordance with these Regulations, as of he or she was\ninscribed as the owner under regulation 25.\n(5) Where a joint owner of stock dies, title to the stock vests in the\nsurviving owner or owners of the stock.\n(6) The death of a joint owner of stock may be proved by the\nproduction to the registrar of –\n(a) a certificate as to the death of the owner issued under the\nBirths, Deaths and Marriages Registration Act 1996 or under\na law of a State or another Territory of the Commonwealth; or\n\nPart 5 Transmission and transfer of stock\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 12\n(b) where no such certificate is available, by other evidence of\ndeath supported, if the registrar requests it, by a declaration\nby a disinterested person as to the identity of the deceased.\n(7) On production of the proof of death of a joint owner pursuant to\nsubregulation (6), the registrar is to inscribe the stock in the name\nor names of the surviving joint owner or owners of the stock.\n(8) The registrar may retain the interest payment on stock to which a\nperson is entitled under subregulation (2) or (3) until the inscription\nof the stock in the name of the person claiming to be entitled to the\nstock or of the transferee of the stock.\n(9) Where 2 or more persons become entitled to stock as a\nconsequence of the death of an owner, otherwise than as surviving\njoint owners, they are to elect to have the stock transferred:\n(a) into their names as joint owners;\n(b) into separate parcels of stock with each person owning\nseparately designated parcels; or\n(c) to another person.\n(10) The persons required to transfer stock under subregulation (9)\nmust, before the transfer, produce to the register the kind of\nevidence referred to in subregulation (2).\n25 Inscription on transmission\n(1) A person to whom stock is transmitted may apply to be inscribed as\nthe owner of the stock.\n(2) An application under subregulation (1) is to be:\n(a) in accordance with a form approved by the Corporation;\n(b) executed by the applicant; and\n(c) lodged at the registry.\n(3) A signature on an application referred to in subregulation (2) is to\nbe verified in a manner approved by the Corporation.\n(4) Where stock is transmitted because of a death, the person claiming\nentitlement to the stock is to lodge at the registry an attested copy\nof the probate of the will, letters of administration or other\ninstrument that is evidence that the person is so entitled.\n\nPart 5 Transmission and transfer of stock\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 13\n(5) Where stock is transmitted because of bankruptcy, the person\nclaiming entitlement to the stock is to lodge at the registry an office\ncopy of the adjudication, order of sequestration or vesting order\nissued in relation to the bankruptcy.\n(6) The registrar is to:\n(a) enter a record of a transmission of stock in the register; and\n(b) where the person entitled to the stock has elected under\nregulation 24 to register the stock in his or her name, inscribe\nthe name of that person in the register as the owner of the\nstock.\n26 Transfers\n(1) Subject to subregulations (2) and (3), a person:\n(a) whose name is inscribed in the register as the owner of stock;\nor\n(b) who elects under regulation 24 to transfer stock,\nmay transfer stock in accordance with these Regulations and may\ngive receipts for money paid to him or her by way of consideration\nfor stock.\n(2) Stock inscribed in the name of a minor as a joint owner with one or\nmore adults is not to be transferred until the coming of age or death\nof the minor, except as ordered by a Judge of the Supreme Court\nor the Supreme Court of a State or another Territory of the\nCommonwealth.\n(3) The owner of stock may only transfer stock having a face value or\nmore than $100.\n27 Instruments of transfer\n(1) Subject to regulation 26, stock may be transferred from one person\nto another by an instrument of transfer and acceptance, in a form\napproved by the Corporation, signed by both parties and lodged at\nthe registry.\n(2) Each signature on an instrument referred to in subregulation (1) is\nto be verified in a manner approved by the Corporation.\n\nPart 5 Transmission and transfer of stock\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 14\n(3) On the lodgement of the instrument referred to in subregulation (1),\nthe Registrar is to:\n(a) where the transferor's name is inscribed in the register, cancel\nthe inscription in the register of the stock in the name of the\ntransferor; and\n(b) inscribe the stock in the register in the name of the transferee.\n28 Marking of transfers\n(1) In this regulation, to mark means to record on the register and on a\ntransfer that stock to which the transfer relates is reserved and is\nnegotiable only on the lodging of the transfer with the registrar.\n(2) The registrar, or an interstate agent authorised to do so, may mark\nstock.\n(3) The registrar, or an authorised interstate agent, is not to mark stock\nunless it is fully paid.\n(4) The registrar, or an authorised interstate agent, has full discretion\nwhether or not to mark stock and may request further details from a\ntransferor or transferee.\n(5) The registrar, or an authorised interstate agent, may mark stock\nthat:\n(a) is inscribed in the register; and\n(b) has been properly executed by the transferor,\nwith the words \"stock held against this transfer for $ for a\nperiod of days from (date)\".\n(6) The period to be specified for the purposes of subregulation (5):\n(a) is 42 days or a longer period determined by the Corporation;\nand\n(b) except with the approval of the registrar, is not to extend into\nthe 30-day period immediately preceding the maturity date of\nthe stock.\n(7) Where stock is marked, the registrar or an interstate agent is not to\ngive effect to a dealing in the stock during the period specified in\nthe marking, except in pursuance of the transfer as marked.\n\nPart 6 Payment of interest and redemption of stock\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 15\n(8) The registrar may arrange that marking facilities for stock inscribed\nin the register be available in the other States of Territories of the\nCommonwealth in which the registrar has appointed an interstate\nagent.\n(9) The registrar is to notify the transferor of stock that the marking has\nbeen made in relation to the stock transferred.\nPart 6 Payment of interest and redemption of stock\n29 Closing of register and payment of interest and principal\n(1) The register is to be closed for the determination of interest\nentitlements in respect of stock during the 7 days immediately\npreceding and including the interest payment date specified in a\nprospectus issued by the Corporation in relation to the stock.\n(2) Where a transfer of stock is received during the period the register\nis closed pursuant to subregulation (1), the transferee is not, except\nwith the approval of the registrar, entitled to the interest payment\nnext occurring after the transfer of stock.\n(3) The register is to be closed for the repayment of principal during\nthe 7 days immediately preceding and including the maturity date.\n(4) A transfer of stock received during the period the register is closed\npursuant to subregulation (3) is not to be inscribed except with the\napproval of the registrar.\n30 Interest on stock\n(1) Interest on stock is to be paid:\n(a) on a day which trading banks are open; or\n(b) if the interest payment date falls on a day on which trading\nbanks are not open, on the next day after that day on which\ntrading banks are open.\n(2) Interest is not to be paid on stock unless the stock is fully paid.\n(3) Interest on stock is to be paid, in a manner approved by the\nCorporation, in accordance with the directions of the applicant as to\nwhether money is to be paid by cheque, into an ADI account or\notherwise, as specified on the application under regulation 9(1)(c)\nor as varied under subregulation (4).\n\nPart 6 Payment of interest and redemption of stock\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 16\n(4) Where the registrar receives a direction on writing by:\n(a) an owner; or\n(b) in the case of a minor who is an owner of stock, his or her\nparent or guardian acting on his or her behalf,\ncontaining instructions for payment of interest other than those\nspecified in the application under regulation 9(1)(c), subject to\nthese Regulations, the Corporation is to pay the interest in\naccordance with the direction.\n(5) A direction for payment of interest remains in force until varied in\nwriting by:\n(a) the owner; or\n(b) in the case of a minor who is an owner of stock, his or her\nparent or guardian acting on his or her behalf.\n(6) This regulation does not operate so as to prevent an owner from\nregistering separately designated holdings of stock and giving\nseparate directions for the payment of interest on those holdings.\n(7) Payment in accordance with this regulation is a valid discharge to\nthe Corporation.\n31 Redemption of stock\n(1) Except where the owner of stock has applied to convert stock under\nregulation 9, on redemption of the stock the Corporation is to repay\nthe principal, in accordance with the provisions of the application to\npurchase stock, in favour of the owner.\n(2) Subject to regulation 32, where the registrar receives a direction in\nwriting executed by:\n(a) the owner of stock; or\n(b) in the case of a minor who is an owner of stock, his or her\nparent or guardian acting on his or her behalf,\ncontaining instructions for repayment of the principal other than as\nspecified in the application under regulation 9(1)(c), the Corporation\nis to repay the principal in accordance with that direction.\n(3) Payment or conversion in accordance with this regulation is a valid\ndischarge to the Corporation.\n\nPart 7 Miscellaneous\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 17\n32 Directions and notification\n(1) Where a notification of change of address pursuant to regulation 19\nis received on:\n(a) the date on which interest on stock is due or during the 7 days\nimmediately preceding that date, the notification is not\neffective until the day following the date on which the interest\nis due; or\n(b) the maturity date or during the 7 days immediately preceding\nthat date, the notification is of no affect.\n(2) Where a direction to pay interest referred to in regulation 30(4) is\nreceived on the date on which interest is due or during the 7 days\nimmediately preceding that date, the notification is not effective\nuntil the day following the date on which the interest is due.\n(3) Where a direction to pay principal referred to in regulation 31(2) is\nreceived on the maturity date or during the 7 days immediately\npreceding that date, the notification is of no effect.\nPart 7 Miscellaneous\n33 Stock owner by Corporation\n(1) The Corporation may purchase stock that has been issued and\nmay resell or cancel that stock.\n(2) A delegate of the Corporation acting within the terms of his or her\ndelegation may request a transfer of the stock of the Corporation.\n(3) The registrar is not required to act on a request under\nsubregulation (2) unless a specimen signature of the delegate has\nbeen lodged with the registrar under subregulation (4).\n(4) A delegate of the Corporation for the purposes of subregulation (1)\nis to lodge his or her specimen signature, attested to by the\nCorporation, with the registrar.\n34 Preservation and destruction of records\n(1) The registrar is to preserve all records relating to stock until their\ndestruction is authorised by the Corporation in accordance with\nsubregulation (2).\n\nPart 7 Miscellaneous\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 18\n(2) Where:\n(a) a record relating to stock is no longer required for the\npurposes of the Corporation or the audit of the accounts of the\nCorporation; and\n(b) it is otherwise lawful to destroy the record,\nthe Corporation may authorise the registrar to cause the record to\nbe destroyed.\n35 Transitional\n(1) In this Regulation:\ncommencement day means the day on which these Regulations\ncommence.\nrepealed Regulations means the Treasury (Northern Territory\nStock) Regulations as in force immediately before the\ncommencement day.\n(2) Stock issued under the repealed Regulations that immediately\nbefore the commencement day had not been cancelled is, on and\nafter that day, to be taken to be stock issued under these\nRegulations.\n(3) An instrument in force under a provision of the repealed\nRegulations immediately before the commencement day is, on and\nafter that day, to be taken to be an instrument under the\ncorresponding provision of these Regulations.\n(4) A person who immediately before the commencement day held an\nappointment as a registrar under the repealed Regulations is, on\nand after that day, to be taken to be a registrar appointed under\nthese Regulations.\n\nENDNOTES\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 19\nENDNOTES\n1 KEY Key to abbreviations\namd = amended od = order\napp = appendix om = omitted\nbl = by-law pt = Part\nch = Chapter r = regulation/rule\ncl = clause rem = remainder\ndiv = Division renum = renumbered\nexp = expires/expired rep = repealed\nf = forms s = section\nGaz = Gazette sch = Schedule\nhdg = heading sdiv = Subdivision\nins = inserted SL = Subordinate Legislation\nlt = long title sub = substituted\nnc = not commenced\n2 LIST OF LEGISLATION\nNorthern Territory Treasury Corporation Inscribed Stock Regulations (SL No. 40, 1998)\nNotified 14 October 1998\nCommenced 14 October 1998\nStatute Law Revision Act (No. 2) 1999 (Act No. 48, 1999)\nAssent date 10 November 1999\nCommenced 10 November 1999\nStatute Law Revision (Financial Provisions) Act 2002 (Act No. 38, 2002)\nAssent date 13 September 2002\nCommenced 30 October 2002 (Gaz G43, 30 October 2002, p 3)\nStatute Law Revision Act (No. 2) 2002 (Act No. 59, 2002)\nAssent date 7 November 2002\nCommenced 7 November 2002\nAmendments of Northern Territory Treasury Corporation Inscribed Stock Regulations\n(SL No. 3, 2004)\nNotified 3 March 2004\nCommenced 3 March 2004\n3 GENERAL AMENDMENTS\nGeneral amendments of a formal nature (which are not referred to in the table\nof amendments to this reprint) are made by the Interpretation Legislation\nAmendment Act 2018 (Act No. 22, 2018) to: rr 1 and 24.\n4 LIST OF AMENDMENTS\nr 10 amd Act No. 48, 1999, s 4\nr 22 amd Act No. 59, 2002, s 6\nr 29 amd No. 3, 2004, r 1\n\nENDNOTES\nNorthern Territory Treasury Corporation Inscribed Stock Regulations 1998 20\nr 30 amd Act No. 38, 2002, s 7\nr 32 amd No. 3, 2004, r 2","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":false,"description":"The legislation remains focused on its original purpose of establishing administrative procedures for the issuance, registration, transfer, and redemption of inscribed stock. The 2004 amendments visible in the endnotes appear to be minor technical updates (general amendments of a formal nature, specific amendments to regulations 10, 22, 29, 30, and 32) rather than expansions of scope. The Regulations maintain their original intent as procedural machinery for the NT Treasury Corporation's borrowing activities."},"complexity_factors":["Moderate length at 35 regulations across 7 Parts, but each regulation is relatively short and focused","14 defined terms in the interpretation section (regulation 2), including technical terms like 'credit foncier' and 'interstate agent'","Multiple cross-references to the parent Act (Northern Territory Treasury Corporation Act 1994) and other regulations","Conditional logic for minors (under 16 or prospectus-specified age) with exceptions for parental consent","Specific procedural requirements for corporations (seal verification, certificates of incorporation) and unincorporated associations","Time-sensitive provisions with 7-day and 30-day blackout periods around interest payments and maturities","Nested conditions for marking transfers (42-day periods, registrar discretion, maturity date restrictions)","Multiple categories of authorised signatories with different execution requirements for joint owners","Transitional provisions preserving rights under repealed regulations"],"plain_english_summary":"**What this legislation does:**\n\nThese Regulations set up the rules for how the Northern Territory Treasury Corporation (NTTC) issues and manages government bonds called \"inscribed stock\" — essentially IOUs where investors lend money to the NT Government and receive interest payments in return.\n\n**Who it affects:**\n\n* **Investors** — anyone buying NT government bonds (individuals, companies, super funds, etc.)\n* **The Registrar** — the official who keeps the register of who owns what stock\n* **The NT Treasury Corporation** — the government body that borrows the money\n\n**Key things the rules cover:**\n\n* **Keeping a register** — There's an official list (the \"register\") recording who owns which bonds, how much they own, interest rates, and when the bonds mature (come due for repayment). This can be kept electronically.\n\n* **Buying stock** — You apply in writing, say how you want interest paid (cheque or bank account), and pay upfront unless the Treasurer says otherwise. The Corporation must issue a prospectus (an official document explaining the investment) before selling to the public.\n\n* **Joint ownership** — Up to two people can own bonds together. If one dies, the other automatically gets full ownership.\n\n* **Selling or transferring** — Owners can sell their bonds to others using an official transfer form, but there's a minimum value of $100. The Registrar can \"mark\" (temporarily reserve) stock for up to 42 days while a sale is being arranged.\n\n* **Death or bankruptcy** — If an owner dies, their bonds go to their executor (the person handling their estate) or, if jointly owned, to the surviving owner. If someone goes bankrupt, the bonds go to their trustee in bankruptcy.\n\n* **Getting paid** — Interest is paid on set dates (or the next banking day if it falls on a weekend). The register closes for 7 days before interest payments to work out who gets paid. You can change how you receive payments, but not during the week before payment day.\n\n* **Children owning bonds** — Kids under 16 (or another age set in the prospectus) can be listed as owners, but can't buy or sell without a parent or guardian's consent.\n\n* **Powers of attorney** — If you give someone legal authority to act for you (a \"power of attorney\"), they can manage your bonds, but the Registrar can ask them to confirm the power hasn't been cancelled.\n\n**Why it matters:**\n\nThese rules protect both the government and investors. They ensure there's a clear record of who owns what, prevent fraud through signature verification, make sure interest and principal repayments go to the right people, and provide orderly processes when owners die, go bankrupt, or want to sell. Without these rules, buying and selling government bonds would be chaotic and risky."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"Based on the available metadata, there is no indication the scope has changed from its original intent. The regulations appear to remain focused on their core purpose of governing inscribed stock issued by the Northern Territory Treasury Corporation, consistent with their 1998 origin and the 2004 commencement date of a reprint."},"complexity_factors":["Deals with specialist financial and securities law concepts (inscribed stock, registered instruments)","Sits within a broader regulatory framework requiring knowledge of the parent Act","Limited content was provided — only metadata, preventing assessment of substantive provisions","Financial market regulations typically involve technical definitions and procedural requirements","Interaction with Commonwealth financial law may add complexity"],"plain_english_summary":"These regulations are the rulebook for inscribed stock — registered NT government debt — governing how the Northern Territory Treasury Corporation issues, records, transfers and manages those securities. They affect the NT borrowing arm, investors and institutions that buy or hold territorial debt.\n\nThey matter because they underpin the Territory’s ability to raise funds and define investors’ rights and the Treasury Corporation’s obligations."},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"The Regulations preserve and continue the existing regime for inscribed stock rather than creating a new class of instrument: transitional provision treats stock issued under the prior Treasury (Northern Territory Stock) Regulations as stock under these Regulations (reg 35). The instrument focuses on procedural and administrative detail (registration, transfer, payment timing and verification). Amendments are recorded in the endnotes but the transitional clause expressly maintains continuity of existing stock and appointments (reg 35)."},"complexity_factors":["Detailed registration and record-keeping requirements, including electronic form approval and contents of the register (reg 3(2), regs 5–6).","Multiple verification routes and documentary proofs required for different owners (individuals, corporations, unincorporated associations, trustees) (regs 10(4)–(6), 15, 21).","Power of attorney and authorised signatory regimes with lodging, verification and retention obligations and limited registrar inquiry (regs 11–12, reg 14, reg 15(3)).","Specific procedures for minors, deaths and bankruptcies requiring probate, letters of administration or adjudication documents to transfer or inscribe stock (regs 13, 24–25).","Transfer mechanics with signing, verification, lodgement, minimum face value and acceptance form requirements (regs 26–27).","Registrar discretion and operational controls: marking transfers, refusing to mark, requesting further detail and closing the register at specified windows (reg 28(4)–(6), reg 29).","Timing constraints that affect entitlement to interest and principal (7‑day closing periods; marking periods up to 42 days; prohibition on marking into last 30 days before maturity) (regs 28(6), 29(1),(3)).","Payment method directions and change-of-address/direction cut-off rules that can delay or invalidate instructions received close to payment or maturity dates (regs 30–32).","Transitional continuity and delegation arrangements that preserve prior appointments and existing stock while allowing amendments (reg 35; endnotes noting later amendments).","Compliance burden on investors to lodge forms, specimen signatures, statutory declarations or attestations and to follow procedural rules to protect entitlements (regs 9, 14, 20, 22, 25)."],"plain_english_summary":"These Regulations set out how the Northern Territory Treasury Corporation issues, records, transfers and redeems \"inscribed stock\". They require the Corporation to maintain a register, make a prospectus available for public issues and prescribe application, inscription, transfer, marking, interest payment and redemption procedures. \n\nThey affect investors (who must lodge applications, identity/proof and payment directions) and the Corporation/registrar (who decides verification, marking and timing). The rules impose document, timing and verification obligations that determine who receives interest or principal."},"issue_detection":{"absurdities":[],"contradictions":[]}},"importantCases":[],"_links":{"self":"/api/acts/northern-territory-treasury-corporation-inscribed-stock-regulations-1998","history":"/api/acts/northern-territory-treasury-corporation-inscribed-stock-regulations-1998/history","analysis":"/api/acts/northern-territory-treasury-corporation-inscribed-stock-regulations-1998/analysis","conflicts":"/api/acts/northern-territory-treasury-corporation-inscribed-stock-regulations-1998/conflicts","importantCases":"/api/acts/northern-territory-treasury-corporation-inscribed-stock-regulations-1998/important-cases","documents":"/api/acts/northern-territory-treasury-corporation-inscribed-stock-regulations-1998/documents"}}