Cheques Regulations 1987 (Cth)

Cheques Regulations 1987

Statutory Rules 1987 No. 130 as amended

made under the

Cheques Act 1986

This compilation was prepared on 6 June 2006

taking into account amendments up to SLI 2006 No. 125

Prepared by the Office of Legislative Drafting and Publishing,

Attorney-General’s Department, Canberra

Contents

    1Name of Regulations [see Note 1]

 These Regulations are the Cheques Regulations 1987.

2Definition

 In these Regulations:

Act means the Cheques Act 1986.

2AFCA institutions

 For paragraph (b) of the definition of FCA institution in subsection 3 (1) of the Act, the following registered corporations are prescribed:

• (a)

  Elders Rural Finance Limited;

• (b)

  Primac Elders Limited;

• (c)

  Wesfarmers Dalgety Limited;

• (d)

  Wesfarmers Limited;

• (e)

  Westralian Farmers Co-operative Limited.

3Designated place: prescribed form of notice by a financial institution

 For the purposes of subsection 65 (1) of the Act, the prescribed form of notice is Form 1 in the Schedule.

4Damages on dishonour: rate of interest

 For the purposes of subparagraphs 76 (1) (a) (ii) and (b) (ii) of the Act, the interest payable, in relation to a cheque, in respect of the sum referred to in subparagraph 76 (1) (a) (i), or the amount referred to in subparagraph 76 (1) (b) (i) of the Act, is an amount calculated, in respect of the period commencing on the day on which the cheque is dishonoured, at a rate equal to the latest monthly average yield of 90‑day Bank Accepted Bills published before that day by the Reserve Bank of Australia.

6Register of notices given under the Act, s 65A

(1)The eligible authority must keep a register of the following notices:

• (a)

  notices given to the authority by financial institutions under subsection 65A (2) of the Act;

• (b)

  notices varying or revoking notices of the kind mentioned in paragraph (a);

(2)The register is to be kept in such form and manner as the eligible authority directs.

Note   A notice referred to in paragraph (1) (a) is a notice given to the eligible authority by a financial institution under subsection 65A (2) of the Act specifying a place as a notified place in relation to cheques for the Act.

7Inspection of the register

(1)Subject to subregulation (2), the following persons may inspect the register of notices:

• (a)

  an employee of the eligible authority;

• (b)

  an employee of a financial institution who is required by the financial institution to inspect the register.

(2)In the case of a person referred to in paragraph (1) (b), he or she must:

• (a)

  apply to the eligible authority to inspect the register; and

• (b)

  show to the eligible authority a written statement by an officer of the relevant financial institution to the effect that the person is required by the financial institution to inspect the register.

(3)If the person complies with subregulation (2), the authority must, as soon as practicable, allow the person to inspect the register.

Note   No fee is payable to inspect the register.

8Obtaining information contained in the register

(1)If a person:

• (a)

  asks the eligible authority to provide information contained in the register; and

• (b)

  pays the fee determined under subregulation (2) or (3);

the authority must, as soon as practicable, provide the information.

(2)If the person asks the authority to provide information that must be obtained from one notice in the register, the fee for providing the information is $20.

(3)If the person asks the authority to provide information that must be obtained from more than one notice in the register, the fee for providing the information is worked out using the formula:

where N is the number of notices from which the information is obtained.

ScheduleCheques Regulations 1987

(regulation 3)

Form 1Notice by a financial institution specifying a place as a designated place for the Cheques Act 1986

(Prepare a separate notice for each designated place)

TAKE NOTICE that (insert full name of financial institution giving the notice) hereby specifies:

• (a)

  (insert address of the place to be designated, not being the address of a post office box or bag) as a designated place for the purposes of (insert any one or more of ‘subsection 62 (1)’ or ‘subsection 62 (9)’ as the case requires) of the Cheques Act 1986 in relation to the following classes of cheques:

 (identify each of those classes with reasonable certainty);

• (b)

  (identify the days and the hours of each of those days) as the times when the financial institution will be open for business at that designated place; and

• (c)

  (identify the means) as the means by which communications may be made to the financial institution at that designated place.

THIS NOTICE has effect on and from (insert ‘the day on which it is published in the Commonwealth of Australia Gazette’ or, if this notice is to have effect on a later date, insert that date).

*Publication of this notice was authorised by (insert full name and designation of an officer of the financial institution giving the notice who is authorised by the financial institution to authorise publication of this notice — the officer’s signature is not required) on (date).

Notes to the Cheques Regulations 1987

Note 1

The Cheques Regulations 1987 (in force under the Cheques Act 1986) as shown in this compilation comprise Statutory Rules 1987 No. 130 amended as indicated in the Tables below.

Under the Legislative Instruments Act 2003, which came into force on 1 January 2005, it is a requirement for all non-exempt legislative instruments to be registered on the Federal Register of Legislative Instruments. From 1 January 2005 the Statutory Rules series ceased to exist and was replaced with Select Legislative Instruments (SLI series). Numbering conventions remain the same, ie Year and Number.

Table of Instruments

Year and number	Date of notification in Gazette or FRLI registration	Date of commencement	Application, saving or transitional provisions
1987 No. 130	25 June 1987	25 June 1987
1988 No. 37	24 Mar 1988	24 Mar 1988	—
1994 No. 100	19 Apr 1994	19 Apr 1994	—
1994 No. 406	13 Dec 1994	16 Dec 1994 (see r. 1 and Gazette 1994, No. S435)	—
1997 No. 276	24 Sept 1997	24 Sept 1997	—
1998 No. 238	22 July 1998	1 Dec 1998	—
2006 No. 125	2 June 2006 (see F2006L01655)	3 June 2006	—

Table of Amendments

ad. = added or inserted  am. = amended rep. = repealed rs. = repealed and substituted
Provision affected	How affected
R. 1.........................................	rs. 1998 No. 238
R. 2.........................................	rs. 1998 No. 238
R. 2A.......................................	ad. 1988 No. 37
rs. 1994 No. 100; 1997 No. 276
am.1998 No. 238
Heading to r. 3......................	am. 1998 No. 238
R. 4.........................................	am. 2006 No. 125
R. 5.........................................	rep. 1998 No. 238
R. 6.........................................	ad. 1994 No. 406
am. 1998 No. 238
Notes to r. 6...........................	rep. 1998 No. 238
Note to r. 6.............................	ad. 1998 No. 238
R. 7.........................................	ad. 1994 No. 406
am. 1998 No. 238
R. 8.........................................	ad. 1994 No. 406
am. 1998 No. 238
Schedule................................	am. 1994 No. 406; 1998 No. 238
Heading to Form 1.............	rs. 1998 No. 238
Form 1.................................	1987 No. 130
am. 1994 No. 406; 1998 No. 238
Form 2.................................	1987 No. 130
am. 1994 No. 406
rep. 1998 No. 238