National Security (Economic Organization) Regulations (Amendment) (Cth)

STATUTORY RULES.

1942. No. 127.

 

REGULATIONS UNDER THE NATIONAL SECURITY ACT 1939-1940.*

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 National Security Act 1939-1940.

Dated this thirteenth day of March, 1942.

GOWRIE

Governor-General.

By His Excellency’s Command,

J. B. CHIFLEY

for and on behalf of the Minister of State for Defence Co-ordination.

 

Amendments of the National Security (Economic Organization) Regulations.

Fixing of interest rates.

1. Regulation 11 of the National Security (Economic Organization) Regulations is amended—

(a) by inserting in sub-regulation (2.), after the word “order” (first occurring), the words “ may fix a date from which any maximum rate of interest fixed by the order shall be applicable, and ”; and

(b) by adding at the end thereof the following sub-regulation:—

“(3.) An order under this regulation may provide that interest shall not, in respect of any period commencing on or after a date specified in the order, be payable in respect of so much of the amount to the credit of a deposit account in a savings bank as exceeds an amount specified in the order.”.

Interest not to exceed maximum fixed.

2. Regulation 12 of the National Security (Economic Organization) Regulations is amended by omitting sub-regulation (1.) and inserting in its stead the following sub-regulation:—

“(1.) A person shall not, without the consent in writing of the Commonwealth Bank—

(a)in respect of any period after the date from which a maximum rate of interest is applicable under any order under the last preceding regulation, pay or charge interest at a rate higher than the rate applicable under the order; or

 

* Notified in the Commonwealth Gazette on 13th March, 1942.

  Statutory Rules 1942, No. 76, as amended by Statutory Rules 1942, Nos. and 110.

1891.—Price 3d.

(b)pay any interest in contravention of any provisions of an order under the last preceding regulation providing that interest shall not be payable in respect of so much of the amount to the credit of a deposit account in a savings bank as exceeds an amount specified in the order.”.

3. Regulation 13 of the National Security (Economic Organization) Regulations is repealed and the following regulations inserted in its stead:—

Part not to apply to certain interest.

“13. An order under this Part may extend to interest payable by the Commonwealth Bank or by the Commonwealth Savings Bank of Australia but shall not otherwise apply to any interest payable by the Commonwealth.

Authentication of orders and Consents.

“13a. An order or consent authorized by these Regulations to be made or given by the Commonwealth Bank shall be sufficiently authenticated if signed by the Governor or Deputy Governor of the Commonwealth Bank on behalf of the Commonwealth Bank, and any order or consent purporting to have been so signed shall, in the absence of proof to the contrary, be deemed to have been made or given by the Commonwealth Bank.

Orders may contain supplementary provisions, &c.

“13b. An order under this Part may contain such incidental and supplementary provisions as are necessary or expedient for the purposes of the order.”.

 

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