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Establishment of Commonwealth inscribed stock registry in Canberra



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ESTABLISHMENT OF COMMONWEALTH INSCRIBED STOCK ' REGISTRY'IN CANBERRA** ...... ~

STATEMENT BY THE TREASURER, THE RT. HON. HAROLD ΗΟΕΤ,Μ.Ρ.

The Treasurer, Mr, Holt, announced today that the

Commonwealth Government had decided to set up an Inscribed Stock

Registry in Canberra.

The Registry will open for business on Tuesday, 3rd

January, 1961, and will offer all the facilities for inscription

of stock that are available at the Inscribed Stock Registries in

the State capital cities and at Launceston.

Mr. Holt said that the Registry was being opened because

of the rapid growth in Canberra’s population and the marked

increase in the number of business and financial interests in

Canberra who are inconvenienced by the lack of an Inscribed

Stock Registry.

Following the opening of the Registry next January,

it will be possible for residents of Canberra and surrounding

districts, arc1 , for firms established then.;, to hold their

Commonwealth securities in Canberra ’ n the form of inscribed stock.

The only exception will be holdings of Special Bonds, which are

not available in the form of inscribed stock. Holders of

Commonwealth securities ’ wishing to locate their investments in

Canberra can at present only do so by taking out Commonwealth

bonds (which may, if desired, be lodged at a bank for safe custody),

Mr. Holt said he believed that the decision to open the

Canberra Registry would be welcomed by all those interested in

Commonwealth securities. He hoped that the public would make

good use of the new facilities which would be available.

The office of the Registry of Inscribed Stock will be ■

situated at the Canberra Branch of the Reserve Bank of

Australia in London Circuit, Civic Centre, A.C.T.

Commonwealth Treasury, Canberra.

9th November, 1960.