Bank of New South Wales Act 1864 No bns (NSW)

An Act to amend an Act inti tuled " An Act to " incorporate the Proprietors of a certain Bank- " ing Company called 'The Bank of New South " Wales anal for other purposes therein men- " tioned." [31st March, 1864.1

of H e r present Majes ty ' s re ign in t i tu led " An Act to incorporate the " Proprietors of a certain Banking Company called ' The Hank of " New South Wales' and for other purposes therein mentioned " whereby a l imi t is or m a y be const rued to be placed on t h e operat ions and conduct of business of t h e said corporat ion confining the same to t h e Colony of N e w South W a l e s a n d cer ta in o ther of the enac tmen t s conta ined in such Ac t as regards t h e t a k i n g of securi ty for t h e pro tec t ion of t h e operat ions of such B a n k are unnecessar i ly a n d inconvenient ly res t r ic t ive A n d whereas it is expedient t o repeal t h e same and to subs t i tu te in l ieu thereof other provisions of a more expansive charac te r Be it therefore enac ted by t h e Queen ' s Most Excel len t

" W H E R E A S it has been found t h a t cer ta in of t h e enac tmen t s

conta ined in t h e A c t of Counci l passed in t h e four teen th year

Exce l l en t Majesty by and wi th t h e advice and consent of t he Legisla­ t ive Council and Legislat ive Assembly of N e w South "Wales in Par l ia ­ m e n t assembled a n d by t h e au thor i ty of t h e same as follows :—

1. The t h i r d section of t he said reci ted Ac t shall be and is

hereby repealed.
2. I t shall be lawful for t h e said corporat ion subject to all t h e restr ic t ions and provisions here in conta ined to carry on the business of a bank of issue discount and deposit i n t he Colony of N e w South Wales a n d elsewhere and to m a k e loans of money on cash credit accounts promissory notes bills of exchange or le t ters of credit and on any personal or o ther securi t ies and i t shall also be lawful for t h e said corporat ion to deal in money bull ion and specie and in exchanges of and wi th all countr ies and in notes bills or o ther securit ies for money and general ly to t r ansac t all such o ther business as i t is or shall or m a y a t any t i m e hereafter be usua l and lawful for es tabl i shments ca r ry ing on b a n k i n g in all its b ranches or deal ing in money bul l ion and specie and in exchanges or in notes bil ls or o ther securities to do or t r ansac t and to establish agencies b r a n c h banks or connexions in re la t ion to t he said business in any of t he adjoining Colonies or places or in any p a r t of t he Br i t i sh dominions or elsewhere and to give le t ters of credi t thereon for any purposes whatsoever b u t t ha t i t shall no t be lawful for t he said corporat ion to advance or lend any money u p o n the securi ty of lands or houses or ships nor to own ships and t h e said corporat ion shall no t hold shares in i ts own stock nor advance or lend to any shareholder or propr ie tor of shares in t he said corporat ion any sum or sums of money on the securi ty of his share or shares nor invest lay out employ advance or embark any par t of t h e capital or funds of t he said corporat ion in t h e purchase of any lands houses or o ther rea l or leasehold p roper ty whatsoever (save and except as here in and in t he said reci ted Ac t specially provided) nor of any share or shares in t he capi ta l or stock for t he t ime being of t he said corporat ion nor in any t r a d i n g or mercant i le specula t ion or business whatsoever no t usual ly considered as fall ing unde r t h e ordinary and legi t imate purposes and operat ions of b a n k i n g es tabl i shments Provided always t h a t no th ing here in or in t he said reci ted A c t contained shall inval idate any l ien acquired or to be acquired by t h e deposit of deeds or any mor tgage of lands or o ther p roper ty t aken or to be t a k e n by the said corporat ion or any person or persons on the i r behalf as securi ty collateral to any bill promissory note bond or o ther securi ty or any r igh t claim or t i t le to

lands or o ther p roper ty thence to arise or t he l ien secured by t h e deed of	se t t lement to t h e corporat ion over t he shares belonging to any propr ie tor
becoming indebted or coming unde r engagements to t h e corporat ion or m a k i n g default i n t h e fulfilment of any covenant in t h e said deed of se t t lement contained or p reven t t h e corporat ion from holding the shares forfeited by such default for the purpose of sale as provided in t h e said deed of se t t lement or from t ak ing securi ty by the hypotheca­ t ion of merchandise or bills of lad ing thereof for t h e p a y m e n t of any bi l l or bills of exchange drawn against any sh ipment of wool ta l low or any other descript ion of merchandise shipped for expor ta t ion e i ther t o or from any por t or place beyond the sea or from one por t to ano ther wi th in t h e Aus t ra las ian Terr i tor ies or from t a k i n g any m o r t g a g e or
l ien on any stat ions r u n s sheep or cat t le and the i r increase progeny
wool and other p roduce unde r t h e Ac t s of t h e Colonial Legis la ture
for t h a t purpose m a d e and provided or from t a k i n g hold ing and enjoying to t h e m their successors and assigns for any estate t e r m of years or in teres t for t h e purpose of r e imbursemen t only and no t for profit any lands houses or o the r he red i taments or any merchandise or ships which may be t aken by the Company in satisfaction l iquidat ion or discharge of or in securi ty for any debt due or to become due to

t h e

t he Company or from selling conveying a n d assur ing t h e same as occasion m a y requ i re A n d i t is hereby declared t h a t al l such l iens mor tgages r igh t s c laims a n d holdings shall be valid.

3 . Tha t in all cases in wh ich b y any A c t of P a r l i a m e n t or of

t h e Colonial Legis la tu re or by any ru le or order of t he S u p r e m e Cour t or any o ther Cour t now or hereafter to be in force in th i s Colony the plaintiff or defendant in any ac t ion suit or o ther proceeding or a n y credi tor of a n insolvent es ta te or any person be ing a pa r ty to or interested in any process or proceeding whatsoever is or shal l be author ized empowered or requi red to m a k e any affidavit or to sign or p resen t a n y pet i t ion or t o do any o ther act i t shall be lawful for t he m a n a g e r or o ther compe ten t officer or agen t of t h e said corporat ion (where t h e said corporat ion shall be such plaintiff defendant or credi tor or be a p a r t y to or otherwise in teres ted in any process or proceeding whatsoever as aforesaid) t o m a k e a n y such affidavit a n d for and on behalf of t he corporat ion to sign or p resen t any such pet i t ion or do any such other act as aforesaid.