Victorian Numbered Regulations

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BORROWING AND INVESTMENT POWERS (STOCK, BONDS AND DEBENTURES) REGULATIONS 2017 (SR NO 95 OF 2017) - REG 38

Replacement of bearer instruments

    (1)     If a bearer instrument is lost, stolen, destroyed or defaced, the Treasury Corporation of Victoria may issue a replacement bearer instrument to the owner on receiving a written application for the issue of a replacement accompanied by—

        (a)     a declaration stating that the certificate or document has been lost, stolen, destroyed or defaced and has not been pledged, sold or otherwise disposed of and, if lost, that appropriate searches have been made; and

        (b)     in the case of a defaced bearer instrument, the bearer instrument; and

        (c)     in the case of a lost bearer instrument, a written undertaking that if the owner finds or receives the instrument, the owner will return it to the Treasury Corporation of Victoria; and

        (d)     an indemnity against payment of the original bearer instrument and interest; and

        (e)     payment of the expenses incurred by the Treasury Corporation of Victoria in issuing the replacement bearer instrument.

    (2)     A replacement bearer instrument must have the same currency and be subject to the same provisions and bear the same principal sum and rate of interest as the original bearer instrument.

    (3)     Before a replacement bearer instrument with coupons is issued, the registrar must cause an interest coupon attached to the replacement instrument to be cut off and cancelled if that coupon—

        (a)     is payable before the day on which the replacement instrument is issued; and

        (b)     the equivalent coupon on the lost, stolen destroyed or defaced instrument has been presented for payment.

    (4)     If the Treasury Corporation of Victoria is satisfied that an interest coupon that has been detached from a bearer instrument is lost, stolen or destroyed before it is paid, the Treasury Corporation of Victoria must, upon the owner delivering to the Treasury Corporation of Victoria an indemnity against payment of the coupon, pay the amount of the coupon to the owner.



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