{"id":"C1959L00094","name":"Seasonal Securities Regulations","slug":"seasonal-securities-regulations","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"94 of 1959","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":23802,"registerId":"commonwealth-C1959L00094-current","compilationNumber":null,"startDate":"2026-04-01","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Seasonal Securities Regulations","content":"STATUTORY RULES.\n\n1959\\. No. 94.\n\nREGULATIONS UNDER THE LOAN (SHORT-TERM BORROWINGS) ACT 1959.\\*\n\nI, 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 Loan (Short-term Borrowings) Act 1959.\n\nDated this 25th day of November, 1959.\n\nW. J. Slim\n\nGovernor-General.\n\nBy His Excellency’s Command,\n\n(SGD.) HAROLD HOLT\n\nTreasurer.\n\nSEASONAL SECURITIES REGULATIONS.\n\nPart I.—Preliminary.\n\nCitation.\n\n1. These Regulations may be cited as the Seasonal Securities Regulations.\n\nParts.\n\n2. These Regulations are divided into Parts, as follows:—\n\nPart I.—Preliminary (Regulations 1-3).\n\nPart II.—Seasonal Inscribed Stock (Regulation 4).\n\nPart III.—Seasonal Treasury Notes (Regulations 5-6).\n\nPart IV.—Exchange of Stock and Notes (Regulations 7-11).\n\nPart V.—Miscellaneous (Regulations 12-20).\n\nInterpretation.\n\n3.—(1.) In these Regulations, unless the contrary intention appears—\n\n“note” means Seasonal Treasury Note;\n\n“Registrar” and “Registry” have the same respective meanings as in the Commonwealth Inscribed Stock Act 1911-1946.\n\n“stock” means Seasonal Inscribed Stock;\n\n“the Secretary” means the Secretary to the Department of the Treasury.\n\n(2.) A reference in these Regulations to a form by letter shall be read as a reference to the form so lettered in the Second Schedule to these Regulations.\n\n(3.) Where any of these Regulations, or a regulation of the Commonwealth Inscribed Stock Regulations in its application to Seasonal Inscribed Stock, requires the use of a form, a form to the like effect approved by the Treasurer may be used.\n\n\\* Notified in the Commonwealth Gazette on 25th November, 1959.\n\n9554/59.—Price 8d. 9/24.11.1959.\n\n \nPart II.—Seasonal Inscribed Stock.\n\nApplication of Commonwealth Inscribed Stock Regulations.\n\n4.—(1.) Each of the Commonwealth Inscribed Stock Regulations, and of the forms in the Schedule to those Regulations, the numbers of which are specified in column 1 of the First Schedule to these Regulations applies, subject to the modifications specified in this regulation and to the modifications (if any) specified opposite to the number of the regulation or form, as the case may be, in column 2 of the First Schedule to these Regulations, to Seasonal Inscribed Stock as if it were stock within the meaning of the Commonwealth Inscribed Stock Act 1911-1946.\n\n(2.) A reference, in a regulation referred to in the last preceding sub-regulation in its application to Seasonal Inscribed Stock, to a form by number shall be read as a reference to the form so numbered in the Schedule to the Commonwealth Inscribed Stock Regulations in its application to Seasonal Inscribed Stock.\n\n(3.) In a form referred to in sub-regulation (1.) of this regulation (other than Form 21 in the Schedule to the Commonwealth Inscribed Stock Regulations) in its application to Seasonal Inscribed Stock the words in the heading—\n\n“Australian Consolidated\n\n![](image.001.png)Inscribed Stock”\n\nCommonwealth Government\n\nshall be omitted and the words—\n\n“Seasonal Inscribed Stock”\n\ninserted in their stead.\n\nPart III.—Seasonal Treasury Notes.\n\nForm for Seasonal Treasury Note.\n\n5. The prescribed form for the purposes of paragraph (a) of subsection (1.) of section 10 of the Loan (Short-term Borrowings) Act 1959 is Form A.\n\nNumbering of Notes.\n\n6. Notes shall be numbered in such manner as the Treasurer approves.\n\nPart IV.—Exchange of Stock and Notes.\n\nExchange of stock for notes.\n\n7.—(1.) Stock may be exchanged for notes on application being made in accordance with Form B.\n\n(2.) The last preceding sub-regulation does not authorize an exchange that will result in the amount of stock held by any one person, or by two or more persons jointly, being less than One thousand pounds.\n\n(3.) Notes issued in exchange for stock shall be notes maturing on the same date as the stock.\n\n(4.) If the notes are delivered at a Registry, a receipt for the notes shall be given at the foot of the application.\n\n(5.) The Registrar shall forward a notification of the exchange to the stock owner in accordance with Form C.\n\nExchange of stock in name of infant, etc.\n\n8.—(1.) Subject to this section, where stock is inscribed in the name of an infant, or in the name of a person of unsound mind, jointly with other persons not under legal disability, notes shall not be issued in exchange for the stock except in pursuance of an order of a Justice of the High Court or of a Judge of the Supreme Court of a State or Territory.\n\n \n\n(2.) Where, in the case of a person of unsound mind, the Master in the Protective Jurisdiction of the Supreme Court of the State of New South Wales, or a person exercising powers and functions similar to the powers and functions of the Master under the law of another State or of a Territory, is authorized to administer the estate of that person, notes may be issued in exchange for stock inscribed in the name of that person jointly with other persons not under legal disability otherwise than in pursuance of an order of the kind referred to in the last preceding sub-regulation upon receipt of an application in accordance with Form B signed by the Master or other person, as the case may be, on behalf of the person of unsound mind, and by the person not under legal disability.\n\n(3.) Where an order has been made by a Justice of the High Court or a Judge of the Supreme Court of a State or Territory in relation to stock inscribed in the name of a person of unsound mind jointly with other persons not under legal disability, it shall not be necessary for an application in accordance with Form B for the issue of notes in exchange for that stock to be signed by or on behalf of the person of unsound mind.\n\nInscription of stock in exchange for notes.\n\n9.—(1.) Notes may be exchanged for stock upon application being made in accordance with Form D for the inscription.\n\n(2.) The last preceding sub-regulation does not authorize an exchange that will result in the amount of stock held by any one person, or by two or more persons jointly, being less than One thousand pounds.\n\n(3.) The Registrar shall issue a receipt in accordance with Form E for notes lodged in exchange for stock, and shall keep a record of the notes so lodged.\n\n(4.) Stock inscribed in exchange for notes shall be stock maturing on the same date as the notes.\n\n(5.) The Registrar shall forward a notification of the inscription in accordance with Form F to the person in Whose name the stock is inscribed or, in the case of a joint account, to the owner whose name is inscribed first in the Stock Ledger.\n\nExchange of notes at same Registry.\n\n10. Upon application being made in accordance with Form G, notes may be surrendered at a Registry in exchange for other notes maturing on the same date.\n\nExchange of notes at different Registries.\n\n11.—(1.) Upon application being made in accordance with Form H, notes may be surrendered at one Registry in exchange for notes maturing on the same date to be issued at another Registry.\n\n(2.) On receipt of the notes surrendered the Registrar receiving the notes shall notify the Registrar at the other Registry in accordance with Form I that notes may be issued in exchange for the notes so surrendered.\n\n(3.) The Commonwealth is not under any legal liability for any delay in issuing notes under this regulation.\n\nPart V.—Miscellaneous.\n\nPowers of Attorney.\n\n12.—(1.) Where a power of attorney in relation to stock has been deposited or produced at a Registry, the power of attorney remains valid and effectual for all the purposes mentioned in the power of attorney notwithstanding its revocation or the bankruptcy, insolvency, lunacy, unsound-\n\n \nness of mind or death of the donor until notice of the revocation, or of the bankruptcy, insolvency, lunacy, unsoundness of mind or death of the donor, is received by the Registrar at that Registry.\n\n(2.) In this regulation, “donor”, in relation to a power of attorney, means the person who, by the power of attorney, appoints another person to be his attorney.\n\nPurchase of securities by infants.\n\n13.—(1.) Seasonal securities may be purchased by an infant.\n\n(2.) Where an infant purchases notes, his receipt for the notes is a valid discharge.\n\n(3.) If any infant who has purchased notes has not attained the age of fourteen years, the Registrar may deliver the notes to the parent or guardian of the infant, whose receipt for the notes is a valid discharge.\n\nReplacement of lost notes, etc.\n\n14.—(1.) Where a note is lost, stolen, destroyed or defaced before it is paid off, the owner may apply to the Treasurer for the issue of a note to replace the lost, stolen, destroyed or defaced note.\n\n(2.) If the Treasurer is satisfied—\n\n(a) that the note has been lost, stolen or destroyed; and\n\n(b) that the applicant was, at the time of the loss, theft or destruction, the owner of the note,\n\nthe Treasurer may, upon the applicant giving an indemnity to the satisfaction of the Treasurer to indemnity the Commonwealth against payment of the lost, stolen or destroyed note, authorize the issue to the applicant of a note in place of the lost, stolen or destroyed note.\n\n(3.) If the Treasurer is satisfied—\n\n(a) that the note has been defaced; and\n\n(b) that the applicant is the owner of the note,\n\nthe Treasurer may, upon the applicant surrendering the defaced note, authorize the issue to the applicant of a note in place of the defaced note.\n\n(4.) A defaced note that has been surrendered under the last preceding sub-regulation shall be cancelled.\n\nDestruction of notes.\n\n15.—(1.) A note that has been cancelled under section 15 of the Loan (Short-term Borrowings) Act 1959 or under the last preceding regulation shall be destroyed in the presence of an authorized person, who shall, when the destruction is complete, certify, by writing under his hand, that the notes have been destroyed in his presence.\n\n(2.) In this regulation, “authorized person” means a person authorized by the Secretary.\n\nRegistrar to act as if seasonal securities were issued under Commonwealth Inscribed Stock Act.\n\n16. A Registrar shall act with respect to seasonal securities and to records, instruments or documents relating to seasonal securities as if they were securities, or records, instrument or documents relating to securities, issued under the Commonwealth Inscribed Stock Act 1911-1946.\n\nMarksman.\n\n17. Where a person is unable to sign his name, instruments required for the purposes of these Regulations shall be executed by him, and attested, in such manner as a Registrar requires.\n\nGeneral Register of Notes.\n\n18. The Secretary shall keep a General Register of Seasonal Treasury Notes.\n\n \nDelegations.\n\n19.—(1.) The Treasurer may, by writing under his hand, delegate to any other person any of his powers and functions under these Regulations, or a regulation of the Commonwealth Inscribed Stock Regulations in its application to Seasonal Inscribed Stock, except this power of delegation.\n\n(2.) A delegation under this regulation shall be revocable at will and does not prevent the exercise of a power or the performance of a function by the Treasurer.\n\nReturns.\n\n20.—(1.) A Registrar shall furnish to the Secretary such returns and information in relation to seasonal securities as the Secretary requires.\n\n(2.) The Registrar shall forward a copy of each return under this regulation to the Auditor-General.\n\nTHE SCHEDULES.\n\nFIRST SCHEDULE.\n\nRegulation 4.\n\nModifications of certain of the Commonwealth Inscribed Stock Regulations and of certain of the Forms in the Schedule to those Regulations.\n\n```html\n

Column 1.

Number of regulation or form.

Column 2.

Modifications.

Regulations

9

10

11

12

Omit “principal” (wherever occurring), insert “money secured on the stock”.

13

14

Omit “bonds” (wherever occurring), insert “Seasonal Treasury Notes.”

15

16

(a) Omit from sub-regulation (1.) “in accordance with Form 1 or”.

(b) Omit from sub-regulation (1.) “Form 33”, insert “Form D in the Second Schedule to the Seasonal Securities Regulations”.

17

18

19

20

21

(a) Omit from sub-regulation (1.) “bonds”, insert “Seasonal Treasury Notes”.

(b) Omit from sub-regulation (1.) “or converted”.

22

23

24

25

26

27

28

29

31

55

56

57

58

Forms

3

(a) Omit “Interest”.

(b) Omit “% Due 19” (wherever occurring).

(c) Omit the column headed “Amount of Interest Due:”.

4

5

Column 1.

Number of regulation or form.

Column 2.

Modifications.

6

(a) Omit “per cent.,”.

(b) Omit “bonds” (wherever occurring), insert “Seasonal Treasury Notes”.

7

8

Omit “interest”.

9

10

11

12

Omit “per cent.,”.

13

14

(a) Omit “of Australian Consolidated

Commonwealth Government Inscribed Stock”, insert “of Seasonal Inscribed Stock”.

(b) Omit “per cent.” (wherever occurring).

15

(a) Omit “per cent.,”.

(b) Omit “pounds) Australian Consolidated

Commonwealth Government Inscribed Stock”, insert “pounds) Seasonal Inscribed Stock”.

(c) Omit “, and to the interest accrued thereon”.

16

Omit “per cent.,”.

17

Omit “per cent.,”.

18

Omit “per cent.,”.

19

(a) Omit “per cent.,”.

(b) Omit “stock for the same amount and series”, insert “Seasonal Inscribed Stock for the same amount and maturing on the same date”.

(c) Omit “A full half year’s interest is payable by you on , 19 ”.

(d) Omit the asterisk and the footnote.

20

Omit “per cent.,”.

21

22

(a) Omit “per cent.,”.

(b) Omit “of Australian Consolidated

Commonwealth Government Inscribed Stock”, insert “of Inscribed Stock”.

23

Omit “per cent.,”.

40

(a) Omit “Australian Consolidated

Commonwealth Government Inscribed Stock”, insert “Seasonal Inscribed Stock”.

(b) Omit “Australian Consolidated

Commonwealth Government Inscribed Stock”, insert “Seasonal Inscribed Stock”.

(c) Omit “, instructions regarding payment of interest”.

(d) Omit Note 3.

41

\n```\n\nSECOND SCHEDULE.\n\nForm A. Regulation 5.\n\nCommonwealth of Australia.\n\nSEASONAL TREASURY NOTE.\n\nIssued under the Loan (Short-term Borrowings) Act 1959.\n\nTransferable by Delivery.\n\nThis Seasonal Treasury Note entitles the Bearer to payment of pounds on the day of\n\n, One thousand nine hundred and .\n\nThe money secured by this Note is payable by the Commonwealth of Australia out of the Consolidated Revenue Fund.\n\nPayment of the money secured by this Note will be made at .\n\nIssued at this day\n\nof , 19 .\n\nSecretary to the Department of the Treasury.\n\n \nForm B. Regulation 7.\n\nSeasonal Inscribed Stock.\n\nmaturing , 19 .\n\nAPPLICATION FOR THE ISSUE OF NOTES IN EXCHANGE FOR STOCK.\n\nTo the Registrar,\n\nCommonwealth Government Registry of Inscribed\n\nStock at\n\nI / We hereby request that £ ( pounds) of the Seasonal Inscribed Stock standing in my / our name(s) be exchanged for Seasonal Treasury Notes (of the denomination of\n\n£ ), to the total value of pounds.\n\nIt is requested that the Notes be delivered \\*at the Registry at\n\nto whose signature appears in the margin.\n\n```html\n

Signature

(Signature)

Address

Date

\n```\n\nWitness\n\nReceived as undermentioned:—\n\nSeasonal Treasury Notes totalling £\n\n| @ | £1,000 | Nos. |\n| --- | -------- | ---- |\n| @ | £5,000 | \" |\n| @ | £10,000 | \" |\n| @ | £50,000 | \" |\n| @ | £100,000 | \" |\n\nSignature of Recipient.\n\n\\* Cross out if inapplicable.\n\nForm C. Regulation 7.\n\nSeasonal Inscribed Stock.\n\nmaturing ,19 .\n\nNOTIFICATION OF ISSUE OF NOTES IN EXCHANGE FOR STOCK.\n\nCommonwealth Government Registry of Inscribed\n\nStock at\n\nTo\n\nI have to inform you that in accordance with your application of\n\nSeasonal Treasury Notes (of the denomination of £ )\n\nto the total value of pounds have been issued in exchange for Seasonal Inscribed Stock standing in your name.\n\nThe Notes were delivered \\*at the Registry at\n\nto in accordance with your request.\n\nRegistrar.\n\n\\* Cross out if inapplicable.\n\n \nForm D. Regulation 9.\n\nSeasonal Inscribed Stock.\n\nmaturing , 19 .\n\nAPPLICATION FOR THE INSCRIPTION OF STOCK IN EXCHANGE FOR NOTES.\n\nTo the Registrar\n\nCommonwealth Government Registry of Inscribed\n\nStock at\n\nI forward herewith Seasonal Treasury Notes, detailed below, of a total value of\n\n£ ( pounds), with the\n\nrequest that they be exchanged for Seasonal Inscribed Stock, to be inscribed in the\n\nname(s) of:—\n\n| Name. | Address. | Occupation. |\n| ----- | -------- | ----------- |\n| | | |\n\nNote Numbers.\n\n| @ | £1,000 | =£ |\n| --- | -------- | --- |\n| @ | £5,000 | =£ |\n| @ | £10,000 | =£ |\n| @ | £50,000 | =£ |\n| @ | £100,000 | =£ |\n\n(Signature)\n\nFull Address\n\nDate\n\nForm E. Regulation 9.\n\nSeasonal Inscribed Stock.\n\nmaturing , 19 .\n\nINSCRIPTION OF STOCK IN EXCHANGE FOR NOTES.\n\nInterim Receipt.\n\nRegistry\n\nNo. 19\n\nReceived from of\n\nSeasonal Treasury Notes of the face\n\nvalue of pounds, to be inscribed in the\n\nnames(s) of\n\nin terms of the prescribed form(s) of application dated 19 .\n\nRegistrar.\n\n \nForm F. Regulation 9.\n\nSeasonal Inscribed Stock.\n\nmaturing , 19 .\n\nNOTIFICATION OF INSCRIPTION OF STOCK IN EXCHANGE FOR NOTES.\n\nCommonwealth Government Registry of Inscribed\n\nStock at\n\nDate\n\n```html\n

To

This document is valueless either for purposes of transfer or for negotiation.

I have to inform you that in

accordance with your application of

19 Seasonal

Inscribed Stock to the value of

£ (

pounds) has been

inscribed in the name(s) of

in exchange for Seasonal Treasury

Notes forwarded with your application.

Registrar.

\n```\n\nForm G. Regulation 10.\n\nSeasonal Treasury Notes.\n\nmaturing , 19 .\n\nAPPLICATION FOR NOTES IN EXCHANGE FOR NOTES.\n\nTo the Registrar,\n\nCommonwealth Government Registry of Inscribed\n\nStock at\n\nI forward herewith the following Seasonal Treasury Notes amounting to £\n\n( pounds):—\n\nNote Numbers.\n\n| @ | £1,000 = | £ |\n| --- | ---------- | --- |\n| @ | £5,000 = | £ |\n| @ | £10,000 = | £ |\n| @ | £50,000 = | £ |\n| @ | £100,000 = | £ |\n| | | £ |\n\nwith the request that they be exchanged for Seasonal Treasury Notes of the denominations as follows:—\n\nNumbers of Notes Issued.\n\n```html\n

Notes Received.

/ /19 .

@

£1,000 =

£

@

£5,000 =

£

@

£10,000 =

£

@

£50,000 =

£

@

£100,000 =

£

£

\n```\n\nSignature\n\nFull Address\n\nDate\n\n \nForm H. Regulation 11.\n\nSeasonal Treasury Notes.\n\nmaturing , 19 .\n\nAPPLICATION FOR THE ISSUE OF NOTES AT ANOTHER REGISTRY.\n\nTo the Registrar,\n\nCommonwealth Government Registry of Inscribed\n\nStock at\n\nI forward herewith the following Seasonal Treasury Notes, detailed below, of a total value of\n\n£ ( pounds) with the request that\n\nSeasonal Treasury Notes of equal value be issued upon identification, at\n\nRegistry, to, or to the order of—\n\n| Name. | Address. | Occupation. |\n| ----- | -------- | ----------- |\n| | | |\n\nNote Numbers.\n\nDenominations.\n\n| @ | £1,000 = | £ |\n| --- | ---------- | --- |\n| @ | £5,000 = | £ |\n| @ | £10,000 = | £ |\n| @ | £50,000 = | £ |\n| @ | £100,000 = | £ |\n| | | £ |\n\nSignature\n\nFull Address\n\nDate\n\nReceived from\n\nSeasonal Treasury Notes maturing on 19 , totalling\n\n£ ( pounds) to be\n\nexchanged for Notes of equal value to be handed to through\n\nthe Commonwealth Government Registry of Inscribed Stock at\n\nin exchange for this receipt, and on such Registry receiving authority from this Registry.\n\nRegistrar.\n\n \nForm I. Regulation 11.\n\nSeasonal Treasury Notes.\n\nmaturing , 19 .\n\nADVICE TO REGISTRAR OF RECIPROCAL ISSUE OF NOTES.\n\nCommonwealth Government Registry of Inscribed\n\nStock at\n\n19\n\nTo the Registrar,\n\nCommonwealth Government Registry of Inscribed\n\nStock at\n\nI have to inform you that on the application of\n\nSeasonal Treasury Notes to the value of £\n\npounds) may be issued to\n\nor order\n\nupon identification and in exchange for receipt issued by this Registry for equivalent amount.\n\nTransfer No.\n\nRegistrar.\n\nBy Authority: A. J. Arthur, Commonwealth Government Printer, Canberra.","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-realtime","completionTokens":1977},"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"The regulations remain strictly focused on establishing the machinery for Seasonal Securities as contemplated by the enabling Loan (Short-term Borrowings) Act 1959. The extensive modification of existing stock regulations is necessary to adapt the established framework to short-term seasonal instruments without expanding the scope beyond short-term government borrowing administration."},"complexity_factors":["Extensive modification table in First Schedule applying 27 existing Commonwealth Inscribed Stock Regulations and 23 forms with specific textual amendments","Dual instrument system requiring exchange mechanisms between inscribed stock (registered) and treasury notes (bearer)","Cross-references to the Commonwealth Inscribed Stock Act 1911-1946 and Loan (Short-term Borrowings) Act 1959","Conditional legal disability provisions requiring court orders or protective jurisdiction involvement (Regulation 8)","Nine prescribed forms (A-I) with specific procedural requirements for applications, receipts, and notifications"],"plain_english_summary":"These 1959 Australian regulations create \"Seasonal Securities\" — short-term government borrowings issued as registered Seasonal Inscribed Stock or bearer Seasonal Treasury Notes — and set the administrative rules for issuing, swapping, transferring and replacing them. They affect holders (including special protections for infants and mentally incapacitated persons), permit exchanges between stock and notes (with a £1,000 minimum stock holding), allow Treasurer-approved replacements for lost notes with indemnities, and enable cross-registry transfers."},"flash_summary":{"complexity_score":5,"scope_assessment":{"changed":true,"description":"These Regulations import many provisions of the Commonwealth Inscribed Stock Regulations but narrow and alter their scope for seasonal securities via explicit modifications in the First Schedule (Reg 4; First Schedule). Examples: removal of interest language and percentage references in forms (First Schedule, e.g. Forms 3, 6), substitution of 'Seasonal Treasury Notes' for 'bonds' and 'Seasonal Inscribed Stock' for Australian Consolidated Inscribed Stock (First Schedule), and operational constraints such as a £1,000 minimum holding on exchanges (Reg 7(2))."},"complexity_factors":["Extensive cross‑application and targeted modification of the Commonwealth Inscribed Stock Regulations to seasonal securities (Reg 4; First Schedule).","Numerous prescribed forms and template edits in the Second Schedule and First Schedule requiring precise form‑based compliance (Reg 5; Second Schedule; First Schedule).","Operational rules for exchanges between stock and notes with minimum holding limits and matching maturities (Regs 7(2)–(3), 9(2), 9(4)).","Multiple registry processes including receipts, notifications and inter‑registry exchanges with a non‑liability clause for delays (Regs 7(4)–(5), 9(3), 10, 11(2)–(3)).","Discretionary Treasurer powers concerning replacement of lost/defaced notes and delegation of functions (Regs 14(2), 19(1)–(2)).","Special‑case rules for persons under legal disability and for powers of attorney affecting operational decision‑making (Regs 8, 12).","Recordkeeping and reporting obligations placed on Registrars and a General Register maintained by the Secretary (Regs 16, 18, 20).","Procedural detail on execution where a person cannot sign and handling of cancelled notes (Regs 17, 15)."],"plain_english_summary":"These Regulations set out how Seasonal Inscribed Stock and Seasonal Treasury Notes are issued, numbered, exchanged, registered and replaced, using prescribed forms (Reg 5; Second Schedule). They impose a £1,000 minimum on stock after exchange (Reg 7(2)), require exchanged securities to share the same maturity (Regs 7(3), 9(4)), and assign day‑to‑day administration to Registrars with reporting to the Secretary (Regs 9(3), 18, 20). The Treasurer retains discretion over replacements and may delegate functions (Regs 14, 19)."}},"importantCases":[],"_links":{"self":"/api/acts/seasonal-securities-regulations","history":"/api/acts/seasonal-securities-regulations/history","analysis":"/api/acts/seasonal-securities-regulations/analysis","conflicts":"/api/acts/seasonal-securities-regulations/conflicts","importantCases":"/api/acts/seasonal-securities-regulations/important-cases","documents":"/api/acts/seasonal-securities-regulations/documents"}}