(a) Stock may be inscribed in the name of any friendly society or industrial union of employers or industrial union of workers or other industrial organisation which the Registrar is satisfied is registered under the laws of any State of the Commonwealth or any branch of any friendly society, industrial union or industrial organisation so registered, or in the name of any organisation or body incorporated under the provisions of the Associations Incorporation Act 1895 (as amended).

(b) Any union, organisation, society or body in whose name stock is inscribed under this regulation shall furnish the Registrar with a certificate in the form approved by the Board containing the names and signatures of two or more persons who are appointed to sign any document relating to stock inscribed in the name of such union, organisation, society or body. Certificates, receipts and other documents relating to stock inscribed under this regulation shall be issued only to such person or persons as are appointed in that behalf, and no transaction in relation to stock inscribed in accordance with this regulation shall be effected unless the transaction is authorised by the person so appointed, and the Board shall be under no liability in respect of any such transaction which is or purports to be so authorised.

(c) Whenever any person is appointed to replace a person authorised in accordance with the certificate referred to in sub-regulation (b) of this regulation, the union, organisation, society or body shall furnish the Registrar with a fresh certificate in accordance with this regulation.