Victorian Numbered Regulations

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BORROWING AND INVESTMENT POWERS (STOCK, BONDS AND DEBENTURES) REGULATIONS 2007 (SR NO 101 OF 2007) - REG 26

Minors

    (1)     An allotment or transfer of stock must not be made to a person who is under the age of 14 years unless the person's parent or guardian has given prior written consent to the allotment or transfer.

    (2)     Payments on stock inscribed in the name of a minor jointly with the names of others of full age may be made as directed by those others and without the concurrence of the minor upon sufficient proof of the minority being lodged with the registrar.

    (3)     Payments on inscribed stock and debenture stock in the name of a minor otherwise than in a joint account may be made to a parent or guardian of the minor and the receipt of the parent or guardian is a valid discharge.

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