Commonwealth Bank Regulations (Cth)

 

STATUTORY RULES.

1953. No. 105

REGULATIONS UNDER THE COMMONWEALTH BANK ACT 1945-1953.*

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 Commonwealth Bank Act 1945-1953.

Dated this  thirtieth

day of  November , 1953.

W. J. Slim

Governor-General.

By His Excellency’s Command,

Treasurer.

Commonwealth Bank Regulations.

Citation.

1. These Regulations may be cited as the Commonwealth Bank Regulations.

Commencement.

2. These Regulations shall come into operation on the third day of December, One thousand nine hundred and fifty-three.

Repeal.

3. The Commonwealth Bank Regulations (comprising Statutory Rules 1945, No. 128; Statutory Rules 1946, No. 188; Statutory Rules 1947, No. 131; Statutory Rules 1951, Nos. 41 and 88; and Statutory Rules 1952, Nos. 16 and 112) are repealed.

Interpretation.

4.—(1.) In these Regulations, “the Act” means the Commonwealth Bank Act 1945-1953.

(2.) In these Regulations, a reference to a form by letter shall be read as a reference to the form so lettered in the Schedule to these Regulations.

Office hours.

5. Branches and agencies of the Commonwealth Bank shall be open for the transaction of business on such days and during such hours as the Bank determines.

Information to be furnished by customers.

6. The Commonwealth Bank may require a person who wishes to transact banking business with the Bank to furnish to the Bank particulars of his name, address and occupation and such other particulars as, in the opinion of the Bank, are necessary to enable the Bank to conduct that business properly.

* Notified in the Commonwealth Gazette on , 1953.

5167.—Price 5d. 10/26.11.1953.

Bank not bound to inquire as to manner of operating on accounts, &c.

7. The Commonwealth Bank shall not be under a liability by reason of its failure to ascertain that the method in accordance with which a firm, company, society, local authority, club or other body of persons desires to operate on an account, to deal with a security or to transact any other business with the Bank is in accordance with any deed, articles, rules or other instrument of the firm, company, society, local authority, club or body.

Powers of attorney, &c.

8. When any business is to be transacted with the Commonwealth Bank under a power of attorney, probate of a will or letters of administration of an estate, the Bank may require the original power of attorney, probate or letters of administration to be produced to the Bank and may require a copy of the power of attorney, probate or letters of administration to be lodged with the Bank.

Declaration of secrecy.

9. The declaration of secrecy referred to in section 15 of the Act shall be in accordance with Form A.

Secrecy.

10. An officer, agent or other person carrying on any business of the Commonwealth Bank shall not—

(a)permit any person to have access to, or furnish to any person copies of or extracts from, books or papers belonging to, or in the possession of, the Bank; or

(b) furnish to any person any information relating to the business of the Bank, other than information furnished to or on the order of a customer in respect of his own matters,

except by direction or authority of the Bank or under compulsion or obligation of law.

Balance-sheets and statements of profit and loss of the Bank and its Departments.

11. Balance-sheets and statements of profit and loss prepared under sub-section (1.) of section 195 of the Act shall be—

(a)in the case of the Commonwealth Bank—in accordance with the form of balance-sheet and the form of statement of profit and loss respectively set out in Form B;

(b)in the case of the Note Issue Department of the Commonwealth Bank—in accordance with the form of balance-sheet and the form of statement of profit and loss respectively set out in Form C;

(c) in the case of the Rural Credits Department of the Commonwealth Bank—in accordance with the form of balance-sheet and the form of statement of profit and loss respectively set out in Form D;

(d)in the case of the Mortgage Bank Department of the Commonwealth Bank—in accordance with the form of balance-sheet and the form of statement of profit and loss respectively set out in Form E; and

(e) in the case of the Industrial Finance Department of the Commonwealth Bank—in accordance with the form of balance-sheet and the form of statement of profit and loss respectively set out in Form F.

Balance-sheets and statements of profit and loss relating to central banking business.

12.—(1.) The Governor shall, once in each year, prepare a balance-sheet and a statement of profit and loss of the central banking business carried on by the Commonwealth Bank under Part V. of the Act.

(2.) Balance-sheets and statements of profit and loss prepared under the last preceding sub-regulation shall be in accordance with the form of balance-sheet and the form of statement of profit and loss respectively set out in Form G.

(3.) The Governor shall—

(a) submit each balance-sheet and statement of profit and loss prepared under this regulation to the Auditor-General for report as to their correctness or otherwise;

(b)after receiving the report of the Auditor-General, transmit the balance-sheet and statement of profit and loss, together with the report, to the Treasurer; and

(c) transmit true copies of the balance-sheet, the statement of profit and loss and the report to the President of the Senate and to the Speaker of the House of Representatives to be laid before the Senate and the House of Representatives, respectively.

Returns of notes held.

13. The returns referred to in section 46 of the Act shall be in accordance with Form H.

Primary produce.

14. For the purposes of the definition of “primary produce” in section 5 of the Act, primary produce includes ores, concentrates of ores, peanut products, poultry, cider, fruit juices, fruit extracts, fruit cordials, fruit liqueurs, grass seeds, copra, coconut, desiccated coconut, coconut oil and other copra products.

THE SCHEDULE.

Form A. Regulation 9.

Commonwealth Bank Act 1945-1953.

DECLARATION OF SECRECY.

I, of , being a member of the Commonwealth Bank Board appointed under the Commonwealth Bank Act 1945-1953, do solemnly and sincerely declare that I will at all times maintain secrecy in relation to the affairs of the Board, the Commonwealth Bank of Australia, the Commonwealth Trading Bank of Australia and the Commonwealth Savings Bank of Australia, and, in particular, that I will not directly or indirectly communicate or divulge any information which comes to my knowledge in the performance of my functions as a member of the Board except by authority of the Board or under compulsion or obligation of law.

(Signature of declarant.)

Declared at the day of  , 19 .

Before me,

Justice of the Peace

or

Commissioner for taking Affidavits.

Form B. Regulation 11.

Commonwealth Bank Act 1945-1953.

COMMONWEALTH BANK OF AUSTRALIA.

Aggregate Balance-sheet as at

Liabilities.				Assets.
£	s.	d.	£	s.	d.
Capital............................................	Gold and balances held abroad (including money at short call)
Reserve Funds................................
Special Reserve—Premium on gold sold...........................................	Australian notes and coin ................
	Cheques and bills of other banks
Notes on issue.................................	Commonwealth Government Securities (including Commonwealth Treasury Bills) .........................................
Deposits, bills payable and other liabilities (including provision for contingencies)
	Securities of other governments and of local and semi-governmental authorities
Bills receivable and remittances in transit .......................................................
Bank premises (at cost less amounts written off) ...........................................
Loans, advances, bills discounted and other assets (after deducting provision for debts considered bad or doubtful)
Total .................................	Total .................................

Note.—Inter-departmental accounts totalling £ have been offset.

Statement of Profit and Loss for. Year Ended

Dr.				Cr.
£	s.	d.	£	s.	d.
Central Banking Business—	By Profits (after provision for contingencies)—
To National Debt Sinking Fund ...	Central Banking Business
	Note Issue Department ....................
To Commonwealth Bank Reserve Fund ......................................	Rural Credits Department
	Mortgage Bank Department ............
To Commonwealth Trading Bank Capital Account .....................	Industrial Finance Department .........
To Rural Credits Department Capital Account ................................
To Mortgage Bank Department Capital Account ..
To Industrial Finance Department Capital Account
Note Issue Department—
To Commonwealth Trading Bank Capital Account .....................
To Rural Credits Department Capital Account ................................
To Mortgage Bank Department Capital Account .....................
To Industrial Finance Department Capital Account
To Commonwealth Treasury
Rural Credits Department—
To Rural Credits Department Reserve Fund .........................
To Rural Credits Development Fund ..............................................
Mortgage Bank Department—
To Mortgage Bank Department Reserve Fund .........................
Industrial Finance Department—
To Industrial Finance Department Reserve Fund
Total ..............................................	Total ..............................................

Form C. Regulation 11.

Commonwealth Bank Act 1945-1953.

COMMONWEALTH BANK OF AUSTRALIA.

NOTE ISSUE DEPARTMENT.

Balance-sheet as at.

  

Liabilities.				Assets.
£	s.	d.	£	s.	d.
Notes on issue* ............................	Gold and balances held abroad (including money at short call) ..................
Special Reserve—
Premium on gold sold ...............
Other liabilities* ..........................	Government securities (including Commonwealth Treasury Bills) .
Other assets .................................
Total ...............................	Total ...............................

* Notes of a denomination not exceeding One pound which have been on issue for more than twenty years and notes of a denomination exceeding One pound which have been on issue for more than forty years are not included in the item “Notes on issue” but are included in the item “Other liabilities”.

Statement of Profit and Loss for Year Ended

Dr.				Cr.
£	s.	d.	£	s.	d.
To Commonwealth Trading Bank Capital Account ............................	By Profits .....................................
To Rural Credits Department Capital Account ........................................
To Mortgage Bank Department Capital Account ............................
To Industrial Finance Department Capital Account ............................
To Commonwealth Treasury
Total ...............................	Total .............................................

Form D. Regulation 11.

Commonwealth Bank Act 1945-1953.

COMMONWEALTH BANK OF AUSTRALIA.

RURAL CREDITS DEPARTMENT.

Balance-sheet as at

    

Liabilities.				Assets.
£	s.	d.	£	s.	d.
Capital ............................................	Cash balances ..................................
Reserve Fund ..................................	Securities of governments and of local and semi-governmental authorities (including Commonwealth Treasury Bills) .........................................
Development Fund ..........................
Other liabilities (including provision for contingencies)
Loans, advances and other assets (after deducting provision for debts considered bad or doubtful) ........
Total ...............................	Total ...............................

Statement of Profit and Loss for Year Ended

Dr.			Cr.
£	s.	d.	£	s.	d.
To Rural Credits Department Reserve Fund ...........................................	By Profits (after provision for contingencies) ....................................................
To Rural Credits Development Fund ....................................................
Total ..............................	Total ..............................

Form E. Regulation 11.

Commonwealth Bank Act 1945-1953.

COMMONWEALTH BANK OF AUSTRALIA.

MORTGAGE BANK DEPARTMENT.

Balance-sheet as at

 

Liabilities.				Assets.
£	s.	d.	£	s.	d.
Capital ..........................................	Cash balances ...............................
Reserve Fund ................................	Securities of governments and of local and semi-governmental authorities (including Commonwealth Treasury Bills) .......................................
Other liabilities (including provision for contingencies)
Loans, advances and other assets (after deducting provision for debts considered bad or doubtful) ......
Total ...............................	Total ...............................

Statement of Profit and Loss for Year Ended

Dr.				Cr.
£	s.	d.	£	s.	d.
To Mortgage Bank Department Reserve Fund ..........................	By Profits (after provision for contingencies) .........................
Total ...............................	Total ...............................

Form F.  Regulation 11.

Commonwealth Bank Act 1945-1953.

COMMONWEALTH BANK OF AUSTRALIA.

INDUSTRIAL FINANCE DEPARTMENT.

Balance-sheet as at

 

Liabilities.				Assets.
£	s.	d.	£	s.	d.
Capital ..........................................	Cash balances
Reserve Fund ................................	Securities of governments and of local and semi-governmental authorities (including Commonwealth Treasury Bills) .. .. ..
Other liabilities (including provision for contingencies)
Loans, advances, shares, debentures and other assets (after deducting provision for debts considered bad or doubtful)
Total ...............................	Total ...............................

Statement of Profit and Loss for Year Ended

Dr.				Cr.
£	s.	d.	£	s.	d.
To Industrial Finance Department Reserve Fund ................................	By Profits (after provision for contingencies) ...............................
Total ...............................	Total ...............................

Form G. Regulation 12.

Commonwealth Bank Act 1945-1953.

COMMONWEALTH BANK OF AUSTRALIA.

CENTRAL BANKING BUSINESS.

Balance-sheet as at

      

Liabilities.				Assets.
£	s.	d.	£	s.	d.
Capital .........................................	Gold and balances held abroad (including money at short call) .......................
Reserve Fund ...............................
Deposits—
Special accounts of trading banks .....................................................	Australian notes and coin ...................
	Cheques and bills of other banks
Other deposits of trading banks.	Commonwealth Government Securities (including Commonwealth Treasury Bills)
Other (including provision for contingencies) .....................
	Securities of other governments and of local and semi-governmental authorities .....................................
Other liabilities .........................
Bills receivable and remittances in transit ......................................................
Bank premises (at cost less amounts written off) ....................................
Other assets .......................................
Total ...............................	Total ...............................

 

Statement of Profit and Loss for Year Ended

Dr.				Cr.
£	s.	d.	£	s.	d.
To National Debt Sinking Fund .......	By Profits (after provision for contingencies) ...........................
To Commonwealth Bank Reserve Fund .......................................................
To Commonwealth Trading Bank Capital Account ........................
To Rural Credits Department Capital Account ....................................
To Mortgage Bank Department Capital Account ....................................
To Industrial Finance Department Capital Account ........................
Total ...............................	Total ...............................

Form H. Regulation 13.

Commonwealth Bank Act 1945-1953.

RETURN OF AUSTRALIAN NOTES.

The amount of Australian notes held by (name of bank) at its head office and

all branches, as at the close of business on Wednesday,

 , 19 , was pounds shillings (£ ).

Bank stamp.

(Signature of General Manager or other principal officer of Bank.)

Date.

By Authority: L. F. Johnston, Commonwealth Government Printer, Canberra.