The Short Title of this Act is “The Foreign Insurance Companies’ Deposits Act Amendment Act, 1904”; and it shall form part of and be read together with “The Foreign Insurance Companies’ Deposits Act, 1894” (hereinafter referred to as “the principal Act”).

In lieu of any instrument transferring or assigning to him any approved securities the Public Trustee may accept the deposit of the instruments of title to such securities, and in that case a certificate under his hand and seal that the securities specified therein have been deposited with him in trust for the purposes of the principal Act shall be registered in the manner and with the consequences hereafter provided.

The registration shall be effected,—

The consequences of the registration of the certificate shall be to render void any dealing by the company or its creditors with the security specified therein until the certificate is revoked by memorandum under the hand and seal of the Public Trustee: Provided that nothing in this Act shall affect the right of the company to receive and give valid receipts for the income from time to time arising from any approved security.

The memorandum of revocation may be registered in the same manner as the certificate.

No fees under “The Land Transfer Act, 1885,” or “The Deeds Registration Act, 1868,” shall be payable in respect of any registration of a certificate of deposit or memorandum of revocation.

A foreign company may, with the consent in writing of the Public Trustee, deposit with the Custodians of Public Securities in London (as appointed under “The Public Securities Act, 1895”), in lieu of the Public Trustee, the cash or approved securities required by the principal Act to be deposited with the Public Trustee, and the deposit so made shall beadeemed a sufficient compliance with the principal Act.