Financial Institutions Duty (Clearing Account Exemption) Regulations 1996 (Vic)

Financial Institutions Duty (Clearing Account

Exemption) Regulations 1996

S.R. No. 84/1996

TABLE OF PROVISIONS

Regulation Page

1.	Objective	1
2.	Authorising provisions	1
3.	Instrument requirement	1

i

STATUTORY RULES 1996

S.R. No. 84/1996

Financial Institutions Duty Act 1982

Financial Institutions Duty (Clearing Account

Exemption) Regulations 1996

The Governor in Council makes the following Regulations:
Dated: 20 August 1996

Responsible Minister:

ALAN R. STOCKDALE

Treasurer

N. C. WHITE

Acting Clerk of the Executive Council

1. Objective

The objective of these Regulations is to amend the Financial Institutions Duty Regulations 1992 to require SCH participants operating clearing or settlement accounts to obtain an instrument signed by the Commissioner for presentation to banks as evidence of exemption from financial institutions duty.

2. Authorising provisions

These Regulations are made under sections
18(3)(o) and 86 of the Financial Institutions

Duty Act 1982.

3. Instrument requirement

In regulation 8(1)(p) of the 1Financial Institutions insert—

Financial Institutions Duty (Clearing Account Exemption)
Regulations 1996

r. 3 S.R. No. 84/1996

"and

(iii) signed by the Commissioner
designating the account a clearing or

in respect of which an instrument participant is in force;".

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Financial Institutions Duty (Clearing Account Exemption)

Regulations 1996

S.R. No. 84/1996 Notes

NOTES

1 S.R. No. 342/1992. Reprinted to S.R. No. 128/1994 and subsequently

amended by S.R. Nos 112/1995, 4/1996, 28/1996 and 61/1996.