13Where property deemed to be situated

##### 13 Where property deemed to be situated For the purposes of this Act: (a) property at sea in the course of transit to Australia, whether directly or indirectly, shall be deemed to be situated in Australia; (b) the local situation of a debt payable under a bond, debenture or other deed shall in no case be determined by reference to the local situation of the bond, debenture or deed; (c) a debt owing by a corporation, wherever incorporated, shall be deemed to be property situated in Australia if the debt was incurred or is payable in Australia, and the corporation has any office or place of business in Australia; (d) a debt owing by any person or persons other than a corporation shall be deemed to be property situated in Australia if the debtor or any of the debtors is resident in Australia; (e) a debt owing by the Commonwealth or any State (including any debentures, Treasury bills or any other form of Government stock or securities) shall be deemed to be property situated in Australia if it is incurred or payable in Australia; (f) notwithstanding anything contained in paragraphs (a), (b), (c), (d) and (e): (i) a debt represented by an instrument which is negotiable in Australia shall be deemed to be property situated in the country in which the instrument is situated; and (ii) a debt which is secured by mortgage, charge, lien or otherwise on any property situated or deemed to be situated in Australia shall itself be deemed to be property situated in Australia: Provided that if the value of the security is less than the value of the debt, the debt shall not, by reason of the existence of that security, be deemed to be situated in Australia except to the extent of the value of the security; (g) shares in a company incorporated under the law of the Commonwealth, of any State or of any Territory which is part of the Commonwealth shall be deemed to be property situated in Australia whether such shares are recorded in a register kept in Australia or elsewhere; and (h) shares in a company incorporated under the law of any country outside Australia shall be deemed to be property situated outside Australia except in the case of shares registered in a branch register of the company in Australia.