confiscation gold from australia puplic

?All countries have a confiscation risk on the basis that we are dealing with politicians. In our view, Australia has a relatively high risk of gold confiscation theft because Australian law already has a mechanism in place to require delivery of gold to the Reserve Bank of Australia (RBA). If you read Part IV of the Banking Act 1959 (the compilation was prepared on 7 July 2008, taking into account amendments up to Act No. 73 of 2008), you will notice the Governor-General may confiscate gold ?for the protection of the currency or of the public credit of the Commonwealth?. Section 41(1) says ?A person shall not, except with the consent in writing of the Reserve Bank, take or send any gold out of Australia?. Section 42(1) says ?a person who has any gold in the person?s possession or under the person?s control shall deliver the gold to the Reserve Bank, or as prescribed, within one month after the gold comes into the person?s possession or under the person?s control?. Section 43 says ?all gold delivered in pursuance of section 42 shall thereupon vest in the Reserve Bank absolutely, free from any mortgage, charge, lien, trust or other interest in or affecting the gold?. Section 44 says ?the amount to be paid for any gold delivered in pursuance of section 42 shall be an amount determined in accordance with such price as is fixed and published by the Reserve Bank?. Section 45(1) says ?a person shall not sell or otherwise dispose of gold to a person other than the Reserve Bank or a person authorized in writing by the Reserve Bank to purchase gold; and a person, other than the Reserve Bank or a person so authorized, shall not buy or otherwise obtain gold from any person.?

?The Perth Mint cannot default on its allocated gold without breaking the law. Gold Corporation and the Western Australia government can default on the Perth Mint?s UNallocated bullion certificates by using Perth Mint?s ?force majeure? clause. Read all the fine print written on the certificate, including: ?The Perth Mint will not be liable or responsible for delivery delays due to causes beyond its control.