Commonwealth Numbered Regulations

1981 No. 8 PIPELINE AUTHORITY (T.P.A. STOCK) REGULATIONS - REG 24

24. (1) Stock inscribed in the name of one person may be redeemed by payment-

   (a)  by cheque, payable to the person, sent by post to the person to his
        address shown on the Stock Ledger; or

   (b)  in a manner approved by the Authority on application by the person in
        accordance with an approved form lodged at the Registry at which the
        stock is inscribed.

(2) Stock inscribed in the name of more than one person may be redeemed by
payment-

   (a)  by cheque, payable to the persons in whose names the stock is
        inscribed in the Stock Ledger, sent by post to the persons at the
        address shown on the Stock Ledger; or

   (b)  in a manner approved by the Authority on application by the persons in
        accordance with an approved form lodged at the Registry at which the
        stock is inscribed.

(3) Any one of the persons in whose names stock is inscribed may give a valid
receipt for a payment in redemption of stock.

(4) The provisions of this regulation do not apply to the extent (if any) to
which the terms and conditions of the issue of the stock otherwise provide.