S.L. 161.1 Art. 6Payment of interest, and acknowledgment.

(1) The interest due on any registered stock shall be paid, by warrant to the registered stockholder or to any branch of any bank in these Islands, person or body of persons to whom the stockholder has by a request duly made to the Accountant General authorised the Accountant General to issue such warrant.

(2) No warrant shall be paid until the receipt thereon for the amount thereby payable has been duly signed, and such receipt shall be a full discharge to the Government and to the Accountant General for the payment of the sum named in the warrant.

(3) The posting of a letter containing a warrant sent by the Accountant General in pursuance of these Regulations addressed to any person at the last address furnished by that person to the Accountant General shall, as regards the liability of the Government and of the Accountant General, be equivalent to the delivery of the warrant to the person to whom the letter was addressed.

(4) Where in pursuance of these Regulations or in accordance with any authority given thereunder any payment is to be made by the Accountant General to a body of persons a receipt for the payment given by any person purporting to be an agent or officer of that body and to be authorised to receive the payment shall be a full discharge to the Government and Accountant General for the amount paid.

(5) Where stock is registered in the names of two or more persons as joint stockholders the Accountant General may, unless other arrangements with respect to the payment of interest have been made in accordance with these Regulations, pay any interest thereon to the stockholder whose name appears first in the register.

(6) A receipt for the payment of interest on any stock which is given by any one of two or more joint stockholders of such stock shall, unless notice in writing to the contrary has been received by the Accountant General from any other joint stockholder of such stock, be a full discharge to the Accountant General and the Government for the payment of that interest.