Moreton Bay Savings' Bank Act 1854 No 25a (NSW)

No. XXV.

An Act to establish and incorporate a Savings'

Bank for the District of Moreton Bay.	[18th
November, 1854.]

WH E R E A S i t is expedient t o establish a bane for t h e Dis t r ic t of More ton Bay in t h e Colony of N e w

Savings ' B a n k a t Br is ­

Sou th Wales and t h a t t h e same should be incorpora ted Be i t enac ted

by H i s Exce l lency t h e Governor of N e w South W a l e s w i t h t he	advice
a n d consent of t h e Legis la t ive Council thereof as follows :—

1. The Vice Pres iden t and Trustees to be appointed as herein­ after provided and the i r successors in office shall be one body poli t ic a n d corporate unde r t he n a m e and style of " The More ton Bay Savings ' B a n k " a n d by t h a t n a m e shall have perpe tua l succession and a common seal and be capable in law to sue a n d be sued in all Cour t s a n d to t ake purchase hold sell and al ienate lands and any es ta te in l ands for t h e purposes of th i s Act .

2. The Governor shal l be Pres ident of t he Corpora t ion a n d t h e business and affairs thereof shal l be managed a t Br i sbane by a Board of Trustees who shal l all be appoin ted by t h e Governor and one of such Trus tees shall also be appoin ted by t h e Governor to be Vice Pres ident .

3 . Eve ry ac t which t h e said Corpora t ion or Trustees are au tho­ rized and requi red to do by or u n d e r t h e au thor i ty of th i s A c t or which m a y become necessary to be done in t h e course of t he deal ings and t ransac t ions of t he ins t i tu t ion m a y be done b y any two of t he said Trus tees (or b y any th ree of t h e m if t he whole n u m b e r of Trus ­ tees appoin ted shall be over six) assembled at any duly convened mee t ing of t h e Board of Trus tees .

4 . I t shal l be lawful for t h e Trus tees to m a k e such ru les and

regula t ions for t h e conduct and m a n a g e m e n t of t h e affairs of t h e Corpora t ion as t hey shall deem expedient b u t no such ru les or regula t ions shall be valid u n t i l allowed by t h e Governor u n d e r his hand .

5. Al l ru les and regula t ions when so allowed shall be t r a n ­ scribed in dupl ica te on p a r c h m e n t and one of such t ransc r ip t s shall be

deposited wi th t he P r o t h o n o t a r y of t h e Supreme Cour t a n d t h e other w i th t he Clerk of t h e Cour t of P e t t y Sessions a t Br i sbane and all such ru les and regula t ions w h e n so deposited shal l be b ind ing on t h e Trus tees and Officers of t h e Corporat ion and upon al l depositors a n d the i r representat ives who shall all be deemed in law to have full not ice thereof and every t r ansc r ip t so deposited or a certified copy thereof shall be received in all Cour ts of Ju s t i ce as evidence of t he ru les a n d

6. I t shall be lawful for any Trus tee toge ther w i th t he Accoun­ t a n t or in his absence for any two Trus tees a t such t i m e and place as shal l be fixed by a n y ru le or regula t ion and a t no o the r t i m e or place to receive from any person by way of deposit any s u m of money no t be ing less t h a n one shi l l ing no r w h e t h e r by one or by successive p a y m e n t s exceeding two h u n d r e d pounds to t h e credit of any one account except as here in otherwise provided and every s u m of money so received shall be immedia te ly entered in a book to be kept for t h a t purpose to t h e credi t of t h e depositor or of such other person as he m a y appoin t and every such deposit and all o ther money received by the Corporat ion shal l wi th in twenty-four hours of t he receipt thereof be paid in to such B a n k in Br i sbane as shall be appoin ted b y t h e Trus tees to receive moneys and shall be the re placed to t h e credi t of t h e Corporat ion to an account in t i tu led " Account of t h e More ton Bay Savings '

regula t ions the re in contained.

Savings ' B a n k " and such account shal l be opened and k e p t in such

B a n k a n d no money pa id in to t he same shal l he wi thdrawn wi thou t

t h e w r i t t e n order of two Trus tees coun te r s igned by t h e Accoun tan t .

7. The receipts in wr i t i ng of any two Trus tees or of any one

of t h e said Trus tees toge ther wi th t h e A c c o u n t a n t for any s u m of

money due or payable to or receivable by t h e Corpora t ion upon t h e

execut ion of any i n s t r u m e n t t he redempt ion of any mor tgage or other­

wise howsoever shall t o all i n t en t s and purposes whatsoever and as aga ins t all par t ies whomsoever be full sufficient complete and effectual d ischarges a n d exonera t ions b o t h a t L a w and in E q u i t y for t he sums of money expressed the re in to have been received on behalf of t h e Corporat ion.

8. The provisions of t h e following enac tmen t s in t h e A c t of

Counci l passed in t h e last Session of Counci l " To amend and consoli­

date the Law relating to the Savings' Bank of New South Wales"

shall be applied to t h e " More ton Bay Savings ' B a n k " and to all persons and m a t t e r s connected the rewi th in t he same m a n n e r as if t he same were repea ted in th i s Ac t w i th ap t words so to apply t h e m t h a t

is to say t h e provisions of t h e e igh th n i n t h t e n t h twelf th t h i r t e e n t h

four teen th e igh teen th n i n e t e e n t h twen ty - th i rd twenty- four th twenty-

fifth twen ty-s ix th twen ty - seven th twen ty -n in th t h i r t i e th thir ty-f irs t

th i r ty-second t h i r t y - t h i rd th i r ty - four th and thirty-fifth clauses of t h e

said Ac t .

9. I t shal l be lawful for t h e Trus tees to borrow and for t h e Governor to gua ran t ee upon t h e securi ty of t h e Genera l B e v e n u e of

t he Colony t h e prepayment of any money t h e loan of which i t m a y a t a n y t ime become necessary for t h e Trus tees to negot ia te in order to m e e t t he demands of depositors Provided t h a t no loan or loans out­ s t and ing a t any t i m e and so gua ran teed shall exceed t h e s u m of t en t housand pounds w i thou t the previous advice and consent of t h e

Legis la t ive Council .

10. I t shall be lawful for t h e Governor from t ime to t ime as occasion may requi re to appoint proper persons to act as Savings ' B a n k Trus tees for any new Dis t r ic t w i th in t h e Dis t r i c t of M o r e t o n Bay or more convenient ly accessible the re to t h a n to t he City of Sydney as to

t h e Governor shall seem m e e t to be signified by the publ ica t ion of an

order to t h a t effect in t he Government Gazette wh ich said Trustees shal l be appoin ted for t h e receipt respectively of deposits in the Savings ' B a n k of M o r e t o n Bay in order t h a t t h e same m a y be t rans­

m i t t e d to and inves ted b y t h e Trustees of t he said Savings ' B a n k for

t h e benefit of coun t ry depositors in t h e l ike m a n n e r and subject to

t h e l ike regula t ions as are hereinbefore provided t ouch ing and con­

cern ing o ther depositors Provided t h a t such Dis t r ic t Trustees shall not

the reby become member s of t h e Corpora t ion hereby created.

1 1 . The provis ions of t h e th i r ty - seven th th i r ty -e igh th thi r ty-

n i n t h for t ie th and forty-first clauses of t h e said Ac t of Counci l passed

re la t ive to the Savings ' B a n k of New Sou th W a l e s shall be applied in respect of such Branches of t h e Savings ' B a n k of More ton Bay in the same m a n n e r as if t h e same were here repeated wi th ap t words so to

apply

t hem.

12. The Corporat ion established by th is Ac t shall no t be or be

cons t rued to be a Dis t r ic t Savings ' B a n k wi th in t he m e a n i n g of the

said A c t of Council re la t ive to t he said Savings ' B a n k of N e w South W a l e s no r shall any Trus tee Accoun tan t or Clerk of such Corporation be or be cons t rued to be a Dis t r ic t Trus tee Accoun tan t or Clerk within

t h e mean ing of t h e said Ac t .

13 . N o t h i n g here in conta ined shal l in any m a n n e r affect or be

construed to affect any of t he provisions of t he said Ac t of t h e las1

Session of Council .

3 B — V O L . 4 . No. X X V I .