S.I. No. 119/1960:

3% TRANSPORT STOCK, 1955-60 (CONVERSION) REGULATIONS, 1960.

3% TRANSPORT STOCK, 1955-60 (CONVERSION) REGULATIONS, 1960.

I, SÉAMAS Ó RIAIN, Minister for Finance, in exercise of the powers conferred on me by section 9 of the Government Loans (Conversion) Act, 1951 (No. 12 of 1951), and section 11 of the Transport Act, 1958 (No. 19 of 1958), hereby make the following regulations :

1. These Regulations may be cited as the 3% Transport Stock, 1955-60 (Conversion) Regulations, 1960.

2. In these Regulations--

"the Board" means Córas Iompair Éireann ;

"application" means an application under subsection (1) of section 3 of the Government Loans (Conversion) Act, 1951 (No. 12 of 1951), for conversion of stock of the 3% Transport Stock, 1955-60.

3. Every application--

(a) shall be made on the appropriate form supplied by the Board or on a form to the like effect,

(b) shall state the amount of the stock to which the application relates,

(c) shall state the name, address and description of the person in whose name or of each of the persons in whose names such stock is standing in the books of the Board, and also such further particulars of such stock as may be required by the Board for the purpose of identifying such stock,

(d) shall be accompanied by the certificate or certificates relating to such stock, and

(e) shall be delivered or sent by post to the Board so as to be received on or before the 23rd day of June, 1960, or such subsequent date not later than the 31st day of July, 1960, as the Board, with agreement of the Bank of Ireland, may allow in any particular case.

4. Where an application is made by a corporate body (whether alone or jointly), the application shall be sealed with the common seal of the corporate body affixed to the application in accordance with the regulations of the corporate body governing the use of the common seal.

5.--(1) An application in respect of stock which is standing in the books of the Board in the names of two or more persons may be made--

(a) if all of those persons are alive, by a majority of them,

(b) if one or more but not all of those persons is or are dead, by the sole survivor or a majority of the survivors, or

(c) if all those persons are dead, by the personal representative or a majority of the personal representatives of the last survivor.

(2) An application in respect of stock which is standing in the books of the Board in the name of one person only may, if that person is dead, be made by the personal representative or a majority of the personal representatives of that person.

(3) An application in respect of stock in relation to which a notice in lieu of distringas is in force may be made by the person who would be entitled to make the application if no such notice had been served, but nothing in this Regulation shall relieve the Board from the obligations (if any) in relation to the application imposed on the Board by the notice.

6. Where a person, in whose name, either alone or jointly, any stock of the 3% Transport Stock, 1955-60 is standing, is under any disability mentioned in the Schedule to these Regulations, an application in respect of the stock may be made on his behalf by the appropriate applicant specified in that Schedule, and such applicant may apply either alone or jointly (including jointly as constituting a majority), as the case may require.

7. Nothing contained in or done in pursuance of these Regulations shall operate to affect the Board with notice of any trust.

SCHEDULE.

GIVEN under my Official Seal, this 3rd day of June, 1960.

SÉAMAS Ó RIAIN,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations prescribe the manner in which applications for the conversion of 3% Transport Stock, 1955-60, are to be made.