Victorian Consolidated Legislation

Forestry Pulp and Paper Company's Afforestation Contracts Act 1949 - SECT 7

Stock as set out in Schedule 2

7. Stock as set out in Schedule 2

To every purchaser who is indebted to the Company at the date of the
commencement of this Act in respect of any portion of his purchase money the
Company shall issue stock in the form set out in the Second Schedule to this
Act, and the Company shall have a first and paramount lien upon such stock for
all unpaid purchase money (without interest) whether the period for payment
has actually arrived or not and no equitable interest in any such stock shall
be created except upon the footing and condition that section fourteen hereof
is to have full effect and such lien shall extend to all dividends from time
to time declared in respect of such stock. Save as aforesaid no such pu
rchaser shall be under any liability to the Company in respect of any unpaid
purchase money but any such purchaser shall have the option at any time of
paying to the Company such unpaid purchase money or any part thereof. Upon
payment or satisfaction of the whole of the unpaid purchase money and upon
delivery up of such stock to be cancelled the Company shall issue to the
purchaser stock in the form set out in the First Schedule to this Act.