Banks and Bank Holidays Act 1898 (NSW)

Act No. 9, 1898.

: An Act to consolidate the Laws relating' to Banks

and Bank Holidays. [27th July, 1898.]

BE it enacted by the Queen's Most Excellent Majesty, by and with Assembly of New South Wales in Parliament assembled, and by the

DIVISION 1.—Publication of statements.—ss. 4-6. DIVISION

the advice and consent of the Legislative Council and Legislative

authority of the same, as follows :—

PART I.

Preliminary.

1. This Act may be cited as the " Banks and Bank Holidays

Act, 1898," and is divided into parts and divisions, as follows :—

PART I.—Preliminary.—ss. 1, 2, 3.
PART II.—Publication of statements and Registration.

DIVISION	2.—Registration.—ss. 7 - 1 0 .
DIVISION	3.—Miscellaneous provisions.—ss. 1 1 - 1 3 .

P A R T I I I . — Bank holidays.—ss. 1 4 - 1 8 .

2 . The Acts mentioned in the Firs t Schedule to this Act are to

the extent therein expressed hereby repealed.

3 . In Pa r t I I of this Act, the word " Bank " means—

(a) any company, firm, or individual engaged in New South Wales

in the discounting and issuing of bills and notes, lending money on securities and cash credit accounts, and other mat te rs relating to the ordinary business of banking ; or in the ordinary business of banking by receiving deposits and issuing bills or notes payable to the bearer a t sight or on demand ; and

(b) any company, firm, or association receiving money on deposit

in New South Wales and t rading under limited liability, al though such company, firm, or association does not issue bills or notes payable to the bearer a t sight or on demand.

P A R T I I .

Publication of statements and Registration of banks.

DIVISION 1.—Publication of statements.

4 . Every bank shall, a t the close of business on Monday of every week, prepare and make up a full and correct account and s ta tement in writing exhibiting—

(a) the assets, property, credits, and securities belonging to every

such bank ; and

(b) the respective debts, engagements, and liabilities of such bank,

in the form set forth in the Second Schedule hereto.

5. (1) From such weekly accounts and s tatements every bank shall, on the last Monday of each quarter ending on the thirty-first day of March, the thir t ieth day of June , the thir t ie th day of September, and the thirty-first day of December in every year, prepare a general abstract in writing, showing—

(a) the average amount during such quarter of the assets, property,

credits, and securities of every such bank ; and

(b) the debts, engagements, and liabilities of such bank,

in the form set forth in the Third Schedule hereto.

(2) To every such quarterly abstract shall be subjoined a

s ta tement exhibiting—

(a) the amount of the capital stock of the bank preparing such

abstract , paid up a t the close of the quarter for which such

abstract is prepared ; and (b)

(b) the rate and amount of the last dividend that was declared by

such bank to its shareholders or proprietors ; and

(c)	the amount of the reserved profit of such bank at the time of
declaring such dividend. (3) Every such respective quarterly abstract and s t a t emen t

shall be verified upon the oath of the managing director, manager, chief cashier, or clerk of the bank making the same ; and shall, within one month after the close of every such quarter , or as soon thereafter as may be practicable, be delivered to the Colonial Secretary to be laid before the Legislative Council and Legislative Assembly, and published in the Gazette.

6 . (1) If any such bank—

(a) neglects to keep such weekly accounts ; or

(b) neglects to make out or to return or deliver to the Colonial Secretary such quarterly abstracts as aforesaid,

it shall forfeit for every such offence the sum of five hundred pounds.

(2 ) If any managing director, manager, chief cashier, or clerk

verifying such abstract , delivers or returns to the Colonial Secretary any false account or abstract of such averages, the bank making such false account or abstract shall forfeit for every such offence the sum of five hundred pounds ; and the managing director, manager, chief cashier, or clerk so offending shall also forfeit for every such offence the sum of one hundred pounds.

(3) Such penalties may be recovered respectively by action

of debt in any court of competent jurisdiction.

DIVISION 2.—Registration.

7 . Where any bank is now carrying on business under a charter
or a deed of co-partnership and settlement, a copy of such charter or

deed, at tested by the managing director, manager, chief cashier, or

clerk of such bank, to be a t rue t ranscr ipt of the original shall be registered,
if not already registered, in the office of the Registrar-General, by the

managing director, manager, chief cashier, or clerk of such bank as soon as may be practicable, and the same shall be open for inspection a t all reasonable times by any person requiring to inspect the same, on payment of a fee of one shilling for each inspection.

8. (1) Whenever—

(a)	any new bank is established, having a charter or a deed of
co-partnership and se t t l ement ; or
(b)	any new charter or deed of co-partnership and settlement of

any bank issues or is entered into,

a copy of such charter, or of such deed of co-partnership and settlement, a t tes ted as aforesaid, shall in like manner be registered for the purposes aforesaid. ( 2 )

(2 ) If any managing director, manager, chief cashier, or clerk

omits or neglects so to register such at tested copy as aforesaid he shall be liable to a penal ty of one hundred pounds, to be recovered by an action of debt in any court of competent jurisdiction by any person who sues for the same.

9 . (1) The managing director, manager, chief cashier, or clerk

of every bank shall, within th i r ty days after the first day of J a n u a r y in each year, or as soon thereafter as may be practicable, cause a t rue and correct list of the names of all the persons who then are existing proprietors or members of such bank, with their respective places of abode and descriptions, to be recorded on oath in the office of the Registrar- General, and the same shall be open for inspection a t all reasonable t imes by any person requiring to inspect the same on payment of a fee of one shilling for each such inspection.

(2 ) Any such managing director, manager, chief cashier, or

clerk who omits or neglects to cause such list to be recorded in manner aforesaid, or wilfully falsifies any such list, shall be liable to a penalty of one hundred pounds, to be recovered by an action of debt in any court of competent jurisdiction by any person who sues for the same.

1 0 . Every person whose name is so recorded as aforesaid shall

be taken to be a member or proprietor of the banking company or firm in which his name is so recorded as aforesaid, and shall be liable to be sued as such until a new list of the names of the members or proprietors of such bank shall be recorded as aforesaid, or until he has given notice in the Gazette of his re t i rement from such bank :

Provided t h a t nothing herein contained shall be deemed—

(a)	to absolve any person from liability on account of any debts incurred by any such bank during the t ime such person remained a proprietor or member thereof ; or
(b)	to render any individual proprietor or member of any bank

established by royal charter or letters pa ten t liable for any

debts incurred by the same, except so far as he is liable under

the provisions of such charter or letters patent .

DIVISION 3.—Miscellaneous provisions.

1 1 . (1) Every oath required to be t aken under the provisions of

this pa r t of th i s Act may be taken before and administered by any justice

of the peace.

(2 ) Any managing director, manager, chief cashier, or clerk

who takes any false oath as to any quarter ly abstract of averages or other mat te r or thing under the provisions of this pa r t of this Act shall be deemed to be guilty of perjury.

1 2 . No action shall lie against any person for any offence com­

mit ted against the provisions of this Pa r t of this Act unless the same is commenced within two years from the t ime the offence is alleged to have been committed.

1 3 . If in any case any mat t e r or thing required to be done or

performed under the provisions of this Pa r t of this Act within any given period is not so done or performed, the proof t h a t it was not practicable to do so shall lie upon the pa r ty required to do or perform the same :

Provided t h a t no excuse shall be allowed for any such failure
or neglect unless it is clearly shown t h a t the ma t t e r or th ing required

to be done or performed was done or performed as soon as was practicable.

P A R T	I I I .
Bank	Holidays.

1 4 . (1 ) The several days in the Four th Schedule hereto (and

which days are in this Act hereinafter referred to as bank holidays)

shall be kept as close holidays in all banks in New South Wales.

(2 ) All bills of exchange and promissory-notes which are due

and payable on any such bank holiday shall be payable, and in case of non-payment may be noted and protested, on the next following day, and not on such bank holiday ; and any such noting or protest shall be as valid as if made on the day on which the bill of exchange or promissory- note was made due and payable.

(3 ) For all the purposes of this P a r t of this Act the day nex t

following a bank holiday shall mean the next following day on which a bill of exchange or promissory-note may be lawfully noted or protested.

1 5 . (1 ) When the day on which any notice of dishonor of an

unpaid bill of exchange or promissory-note should be given is a bank holiday, such notice of dishonor shall be given on the day next following such bank holiday.

(2 ) When the day on which a bill of exchange or promissory-

note should be presented or received for acceptance or payment , or accepted, or forwarded to any referee, is a bank holiday, such bill of exchange or promissory-note shall be presented or forwarded on the day next following such bank holiday.

1 6 . No person shall be compellable to make any payment or do

any act upon such bank holidays which he would not be compellable to do or make on Sunday, and the obligation to make such paymen t and to do such act shall apply to the day following such bank holiday ;

and

and the making of such payment and doing such act on such following day shall be equivalent to payment of the money or performance of the act on the holiday.

1 7 . I t shall be lawful for the Governor by proclamation in the

Gazette to appoint a special day to be observed as a public holiday, either throughout New South Wales, or in any pa r t thereof, or in any city, town, borough, or district therein ; and any day so appointed shall be kept as a close holiday in all banks within the locality mentioned in such proclamation, and shall as regards bills of exchange and promis­ sory-notes payable as aforesaid, be deemed to be a bank holiday for all the purposes of this Pa r t of this Act.

1 8 . I t shall be lawful for the Governor, when it is made to appear

to him in any special case t h a t in any year it is inexpedient t h a t a day by this Act appointed for a bank holiday should be a bank holiday, to declare by proclamation in the Gazette, published not less t han one week before the day appointed for such holiday, t h a t such day shall not in such year be a bank holiday, and to appoint such other day as to the Governor may seem fit to be a bank holiday instead of such day, and thereupon the day so appointed shall in such year be substi tuted for t he day so appointed by this Act.

SCHEDULES.

F I R S T S C H E D U L E .

Reference to Act.	Title in- Short Title.	Extent of Repeal.
4 Vic, No. 1 3 . .	An Act to provide for the periodical publication of the Liabilities and Assets of Banks in New South Wales and its Dependencies, and the Regis t ra t ion	The whole.

of the Names of the Propr ie tors thereof.

5 Vic. No. 2 4 . . An Act to amend an Act int i tuled " An Act to provide for the periodical publication of the Liabilities and Assets of Banks in New South Wales and its Dependencies, and the Registration of the names The whole.

of the Proprietors thereof."

39 Vic. No. 2 . . An Act to make provision for Bank Holidays, and respecting obligations to make p a y m e n t s and The whole.

do

other acts on such Holidays.

42 Vic. No. 2 1 . . An Act to extend the operat ion of an Act to provide for the periodical publicat ion of the Liabilities and Assets of Banks in New South Wales and its Dependencies, and the Regis t ra t ion of the names of the Proprie tors thereof. The whole.

S E C O N D

SECOND S C H E D U L E .

W E E K L Y S t a t e m e n t showing the a m o u n t a n d na tu re of the Debts , Engagements , and

Liabilities, and of the Assets and P r o p e r t y or Securities of t he Bank of

from the to the , 18

Liabilities.	Amount. Totals.	Assets.	Amount. Totals.
£ s. d. £ s. d.	£ s. d. £ s. d.

Notes in	Not bearing interest	Coined gold and silver, and other
circulation	Bearing interest	coined metals ................

Gold and silver, in bars or bullion

Kills in	Not bearing interest	Landed property
circulation	Bearing interest	Notes and bills of other Banks ... Balances due from o t h e r Banks ...

Balance due to other Banks Amount of all debts due to the
Bank, including n o t e s , bills of

Deposits Not bearing interest exchange, and all stock and

Bearing interest....... f u n d e d debts of every descrip­ tion, excepting notes, bills, and balances due to the said Bank from other Banks

Total amount of Liabilities . . .£ Total amount of Assets £

Managing Director.

Place and da te . Chief Cashier or Clerk.

T H I R D S C H E D U L E .

G E N E R A L Abst rac t showing the average a m o u n t of the Liabilities and Assets of the Bank

of	t aken from the several Weekly S ta t emen t s dur ing the quar ter ,	from
the	to the	, 18

Liabilities. Amount. Totals. A sets. Amount. Totals.

£ s. d. £ s. d. £ s. d. £ s. d.

Notes in Not bearing interest Coined gold and silver, and other

circulation Bearing interest . . . . coined metals

Gold and silver, in bullion or bars

Bills in N o t bearing interest Lauded property

circulation Bearing interest Notes and bills of other Banks ... Balances due from other Banks ...

Balances due to other Banks	Amount of all debts due to the Bank, including notes, bills of
Deposits . . .

Not bearing interest	exchange, and all stock and
B e a r i n g i n t e r e s t
funded debts of every descrip­ tion, excepting notes, bills, and
balances due to the said Bank from
other Banks .......................................

Total amount of Liabilities . . .£ Total amount of Assets . . .£

Amount of the capital stock paid up at t h e

close of the quarter ended 18

Rate of the last dividend declared to the

shareholders ...........................................................

Amount of the l i s t dividend declared
Amount of the reserved profits at the time

of declaring such dividend .....................................

Managing Director.

Place and da te . Chief Cashier or Clerk.

I , A.B. , make oath t h a t to the best of m y knowledge and belief the foregoing

abs t rac t is a t rue and faithful account of the average amoun t of assets a n d liabilities of

t h e

the above Bank during the period specified, and that the same was made up from the weekly statements thereof kept in pursuance of the provisions of the Banks and Bank Holidays Act, 1898.

(Signed) A.B.

Sworn before mi at this |

day of , 18 . ]

!. • CD., Justice of the Peace.

FOURTH SCHEDULE. i

The first day of January.	'
The twenty-sixth day of January.	I
Good Friday. The day after Good Friday. Easter Monday. The Anniversary of the Birthday of Her Majesty or Her Successor. The first day of August. The Anniversary of the Birthday of the Prince of Wales. Christmas Day. The twenty-sixth clay of December.

When any of the above days falls upon a Sunday, the next following Monday shall be a Bank Holiday, and whenever the twenty-sixth day of December falls upon a Monday, the day following shall be a Bank Holiday.