Bank of New South Wales Act of 1905 (NSW)

An Act to amend an Act intituled k An Act to incorporate the proprietors of a certain Banking Company called the Bank of New South Wales, and for other purposes therein mentioned," and to extend some of the pro­ visions of the "Bank of New South Wales Act of 1886." [8th September, 1905.]

W H E R E A S A c t of ISoO ( b e i n g t h e A c t of i n c o r p o r a t i o n of t h e B a n k of

b y t h e fifth sec t ion of t h e B a n k of N o w S o u t h W a l e s

N e w S o u t h W a l e s ) i t w a s e n a c t e d t h a t i t s h o u l d be l a w f u l for t h e sa id

t h i n k

c o r p o r a t i o n , for a n d d u r i n g t h e t e r m of t w e n t y - o n e y e a r s , t o c o m m e n c e

f r o m	t h e	p e r i o d	w h e n	t h e	w h o l e	of	t h e	c a p i t a l	s h o u l d	h a v e	b e e n
s u b s c r i b e d	for	a n d	a	m o i e t y	t h e r e o f	p a i d ,	bu t	n o t	o t h e r w i s e ,	t o	m a k e ,

i s s u e , a n d c i r c u l a t e a t a n d f rom a n y c i t y , t o w n , o r p l a c e i n w h i c h t h e y

m i g h t h a v e o p e n e d or e s t a b l i s h e d a n y b a n k , b r a n c h b a n k , o r a g e n c y

u n d e r o r by v i r t u e of t h e said Act or of t h e Deed of S e t t l e m e n t

r e c i t e d	in t h e sa id	A c t	a n y	b a n k	n o t e s	o r	bi l ls for o n e	p o u n d	or	five
p o u n d s	s t e r l i n g	e a c h ,	o r	for	a n y	g r e a t e r	s u m	t h a n	five	p o u n d s

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I l i i n k ( i t ; a n d b y t h e s a m e s e c t i o n it w a s p r o v i d e d t h a t s u c h p r i v i l e g e

s h o u l d	c e a s e	u p o n	t h e	h a p p e n i n g	of	a n y	of	t h e	e v e n t s	t h e r e i n
m e n t i o n e d :	A n d	w h e r e a s	b y	t h e	h a n k	of	N e w	S o u t h	W a l e s	A c t
of	1 8 7 0	t h e	t i m e	d u r i n g	w h i c h	t h e	sa id	c o r p o r a t i o n	m i g h t	m a k e ,
i s s u e ,	c i r c u l a t e ,	a n d	r e i s s u e	s u c h	h a n k	n o t e s	o r	b i l l s	w a s	e x t e n d e d

for a n d d u r i n g t h e f u r t h e r t e r m of t w e n t y - o n e y e a r s , t o c o m m e n c e

a n d to b e c o m p u t e d f rom t h e e x p i r a t i o n of t h e sa id f irs t t e r m of

t w e n t y - o n e	y e a r s	:	A n d	w h e r e a s	b y	t h e	B a n k	of	N e w	S o u t h
W a l e s	A c t	of	188G	t h e	t i m e	d u r i n g	w h i c h	t h e	s a id	c o r p o r a t i o n
m i g h t	m a k e ,	i s sue ,	c i r c u l a t e ,	a n d	r e i s s u e	s u c h	b a n k	n o t e s	o r	h i l l s
w a s	f u r t h e r	e x t e n d e d	for	a n d	d u r i n g	t h e	f u r t h e r	t e r m	of	f o u r t e e n
y e a r s ,	t o	c o m m e n c e	a t	a n d	t o	b e	c o m p u t e d	f r o m	t h e	e x p i r a t i o n

of t h e a f o r e s a i d e x t e n d e d t e r m of t w e n t y - o n e y e a r s : A n d w h e r e a s

t h e s a id e x t e n d e d t e r m of f o u r t e e n y e a r s w i l l s h o r t l y e x p i r e , a n d i t is

e x p e d i e n t t o a m e n d t h e s a id A c t b y e x t e n d i n g t h e t i m e d u r i n g w h i c h

t h e	sa id	c o r p o r a t i o n	m a y	m a k e ,	i s s u e ,	a n d	c i r c u l a t e	s u c h	b a n k	n o t e s
o r	b i l l s :	P e	i t	t h e r e f o r e	e n a c t e d	b y	t h e	K i n g ' s	M o s t	E x c e l l e n t
M a j e s t y ,	b y	a n d	w i t h	t h e	a d v i c e	a n d	c o n s e n t	of	t h e	L e g i s l a t i v e

C o u n c i l a n d L e g i s l a t i v e A s s e m b l y of N e w S o u t h W a l e s i n P a r l i a m e n t

a s s e m b l e d , a n d b y t h e a u t h o r i t y of t h e s a m e , a s fo l lows :—

1. I t s h a l l h e l a w f u l for t h e s a id c o r p o r a t i o n , s u b j e c t t o t h e

c o n d i t i o n s ,	r e s t r i c t i o n s ,	a n d	l i m i t a t i o n s	c o n t a i n e d	i n	t h e	s a id	P a n k	of
N e w	S o u t h	W a l e s	A c t	of	1 8 5 0 , a n d	t h e	s e v e r a l A c t s	a m e n d i n g	t h e

s a m e ,	so	f a r	a s	s u c h	c o n d i t i o n s ,	r e s t r i c t i o n s ,	a n d	l i m i t a t i o n s	n o w	r e m a i n
i n	fo rce ,	for	a n d	d u r i n g	t h e	t e r m	of	t w e n t y - o n e	y e a r s , t o	c o m m e n c e

a n d b e c o m p u t e d f r o m t h e first d a y of J a n u a r y , o n e t h o u s a n d n i n e

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t h e sa id r e c i t e d A c t of I n c o r p o r a t i o n , a n d t h e s e v e r a l A c t s a m e n d i n g

t h e s a m e , o r of t in ; D e e d of S e t t l e m e n t r e c i t e d i n t h e s a i d A c t of

I n c o r p o r a t i o n ,	a n y	h a n k	n o t e s	o r	b i l l s	fo r	o n e	p o u n d	or	f ive	p o u n d s
s t e r l i n g	e a c h ,	o r	for	a n y	g r e a t e r	s u m	t h a n	five	p o u n d s	s t e r l i n g	e a c h ,

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so o f t e n a s ( h e c o r p o r a t i o n s h a l l t h i n k Jit.

2. T h i s A c t m a v b e c i t e d a s t h e " P a n k of N e w S o u t h w a l e s

A c t of 1 9 0 5 . "

A n