Victorian Consolidated Legislation

Forestry Pulp and Paper Company's Afforestation Contracts Act 1949 - SECT 5

Issue of stock

5. Issue of stock



(1) The Company shall issue to every purchaser stock of the Company equal in
amount to the amount of purchase money agreed to be paid by the purchaser
under his contract together with an additional sum equal to a percentage of
seven and one-half per centum per annum calculated at simple interest on such
purchase money from the thirty-first day of December in the year in which the
contract was made until the thirty-first day of December, One thousand nine
hundred and forty-one, and the same shall be accepted by the purchaser in full
satisfaction and discharge of all his right title and interest under his
contract without prejudice to any right which the Company may have under the
terms of any such contract to enter upon the land comprised therein for the
purpose of performing its obligations to the purchaser as provided in this
Act.

(2) The Company shall not issue stock in respect of fractions of a pound but
shall issue to every purchaser stock for an amount equal to the amount
ascertained as aforesaid to the nearest pound.