Banking (Savings Banks) Regulations (Amendment) (Cth)

Statutory Rules

1977 No. 86

REGULATIONS UNDER THE BANKING ACT 1959.*

I, THE ADMINISTRATOR of the Government of 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 eighth day of June, 1977.

A. R. CUTLER

Administrator.

By His Excellency’s Command,

IAN VINER

Minister of State for Aboriginal Affairs for and on behalf of the Treasurer.

 

Amendments of the Banking (Savings Banks) Regulations

Investment of funds of saving banks.

1. (1) Regulation 5 of the Banking (Savings Banks) Regulations is amended by inserting after sub-regulation (2) the following sub-regulation:—

“(2a) Without limiting the generality of sub-regulation (2), the reference in paragraph (2) (f) to securities issued by an authority constituted by or under an Act shall be read as including a reference to registered stock issued by the Australian Industry Development Corporation established by the Australian Industry Development Corporation Act 1970.”.

(2) Regulation 5 of the Banking (Savings Banks) Regulations is amended by omitting from sub-regulation (3) the words “ paragraphs (a), (b), (c), (d), (e), (f) and (i) ” and substituting the words “ paragraphs (a), (b), (c), (d), (e), (f), (i) and (j) ”.

Commencement.

2. The amendment effected by sub-regulation 1 (1) shall be deemed to have come into operation on 18 October 1974.

* Notified in the Australian Government Gazette on 15 June 1977.

  Statutory Rules 1960, No. 6 as amended by Statutory Rules 1962, No. 58; 1963, No. 80; 1966, No. 69; 1970, No. 167; 1974, No. 155; and 1977, No. 63.