Banking (Gold) Regulations (Cth)

STATUTORY RULES.

1960. No. 9.

 

REGULATIONS UNDER THE BANKING ACT 1959.*

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Banking Act 1959.

Dated this fourteenth day of January, 1960.

W. J. Slim

Governor-General.

By His Excellency’s Command,

(SGD.) HAROLD HOLT

Treasurer.

 

BANKING (GOLD) REGULATIONS.

Citation.

1. These Regulations may be cited as the Banking (Gold) Regulations.

Definition.

2. In these Regulations, “the Act” means the Banking Act 1959.

Delivery of gold.

3.—(1.) The prescribed amount for the purposes of paragraph (a) of sub-section (1.) of section 42 of the Act is Twenty-five pounds.

(2.) A person who is required, in pursuance of section 42 of the Act, to deliver gold, may deliver that gold to any person specified in the Schedule to these Regulations.

Power to obtain information.

4.—(1.) The Treasurer may, by notice in writing served on any person (including any officer employed in or in connexion with any department of a Government or by a local authority), require that person—

(a)to furnish to the Treasurer, or to such other person as the Treasurer directs, such information as the Treasurer or that other person requires; and

(b)to attend and give evidence before the Treasurer or before such other person as the Treasurer directs,

with respect to any act, transaction, matter or thing prohibited by Part IV. of the Act, or to which any provision of that Part applies, and may require him to produce all books, documents and other papers in his custody or under his control relating to such an act, transaction, matter or thing.

(2.) The Treasurer may require the information or evidence to be given on oath or affirmation and either orally or in writing and for that purpose the Treasurer or person before whom the evidence is given may administer an oath.

 

* Notified in the Commonwealth Gazette on 14th January, 1960.

10618/59.—Price 3d. 15/29.12.1959.

 

(3.) A person shall not—

(a)refuse or fail to comply with any requirement made in pursuance of either of the last two preceding sub-regulations; or

(b)with intent to evade the provisions of these Regulations, destroy, mutilate, deface, secrete or remove a book, document or other paper.

Penalty: One hundred pounds.

(4.) Where a person is obliged to answer questions orally under this regulation, he shall not refuse to answer any question on the ground that the answer might tend to incriminate him or make him liable to a penalty but the answer given by him shall not be admissible in evidence in any proceedings against him other than proceedings in respect of the falsity of the answer or in respect of the refusal or failure to answer the question.

Travellers taking gold out of Australia.

5.—(1.) In this regulation—

“officer” means a person who is an officer of Customs for the purposes of the Customs Act 1901-1959, an officer of the Department of Immigration or a member of the Police Force of the Commonwealth or of a State or Territory of the Commonwealth, and includes a person authorized by the Treasurer or by the Reserve Bank to act as an officer for the purposes of this regulation;

“traveller” means a person who is about to leave Australia.

(2.) A traveller shall, if requested so to do by an officer—

(a) declare whether or not he has with him any gold; and

(b)produce any gold which he has with him.

Penalty: One hundred pounds.

(3.) An officer, and any person acting under his directions, may search a traveller and examine and search any article which the traveller has with him for the purpose of ascertaining if he has with him any gold and may seize any gold found during the examination or search unless the officer is satisfied that the traveller has not the gold with him for the purpose of being taken or sent out of Australia in contravention of the Act.

(4.) A female shall not be searched in pursuance of the last preceding sub-regulation except by a female.

(5.) An officer, and any person acting under his directions, may go on board any ship or aircraft for the purpose of exercising the powers conferred on him by this regulation, and may examine and search the ship or aircraft and any goods on the ship or aircraft for the purpose of ascertaining whether any gold is on board the ship or aircraft for the purpose of being taken or sent out of Australia in contravention of the Act.

(6.) An officer may seize any gold found during an examination or search referred to in the last preceding sub-regulation which, in the opinion of the officer, is in the possession of a traveller, or on board the ship or aircraft, for the purpose of being taken or sent out of Australia in contravention of the Act.

THE SCHEDULE. Regulation 3.

Australia and New Zealand Bank Limited

The Bank of Adelaide

Bank of China

Bank of New South Wales

Bank of New Zealand

The Commercial Bank of Australia Limited

The Commercial Banking Company of Sydney Limited

Commonwealth Trading Bank of Australia

Comptoir National d’Escompte de Paris

The Deputy Master of the Branch of the Royal Mint at Melbourne

The Deputy Master of the Branch of the Royal Mint at Perth

Electrolytic Refining and Smelting Company of Australia Proprietary Limited

The English, Scottish and Australian Bank, Limited

Garrett, Davidson & Matthey Pty. Limited

The National Bank of Australasia Limited

The Rural and Industries Bank of Western Australia

Rural Bank of New South Wales

The State Bank of South Australia

 

By Authority: A. J. Arthur, Commonwealth Government Printer, Canberra.