No. V.
An Act to amend and to extend to Por t Phill ip
| an Act int i tuled " An Act to consolidate | and |
| "amend | the Laws relating | to the Savings' | Bank |
| " of New South Wales." | [1st September, 1841.] |
| "Wales passed in t h e t h i r d year of t he re ign of H e r Majesty Queen | WH E R E A S ment ioned an Ac t of t h e Governor and Council of New South |
| Vic tor ia in t i tu led " An Act to consolidate and amend the Laws relating to the Savings' Bank of New South Wales'''' and whereas by reason of t h e increase of popu la t ion in t h e Dis t r ic t of P o r t Phi l l ip in t he Colony |
| of N e w South W a l e s and of t h e | dis tance thereof | from Sydney in t h e | |
| said Colony i t is expedient t o es tabl ish | in t h e said distr ict a Savings' | |
| B a n k which | shal l in i ts conduct and m a n a g e m e n t | be dis t inct from | and | |
| independent of t h e Savings ' B a n k of N e w South W a l e s and to ex tend to t he same and such branches thereof as m a y from t ime to t ime be established in t h e coun t ry distr icts of P o r t Ph i l l ip the provisions of |
| t h e said reci ted A c t as amended by th is Ac t | Be it therefore | enacted | |
| by H i s Excel lency the Governor of | N e w South W a l e s w i th t he advice | |
| of t h e | Legis la t ive Counci l | thereof | Tha t an | I n s t i t u t i o n | to | be | called | |
| i t is | expedient | to | amend | in | m a n n e r | hereinafter |
| " | The | Savings ' B a n k | of | P o r t | P h i l l i p " | shal l be established a t | M e l b o u r n e |
in t h e said dis t r ic t for t he receipt m a n a g e m e n t and securi ty of such sums as shal l be the re in deposited wi th power to establish b r anch b a n k s in t h e in ter ior p a r t s of the said dis t r ic t as occasion m a y require;
| a n d such | b a n k | a n d | b r a n c h | b a n k s | shal l be | r egu la t ed respect ively | in |
| m a n n e r | hereinaf ter | provided. |
| 2. A n d be i t enac ted | T h a t | H i s H o n o r t he | Super in tendent | of |
| P o r t | Ph i l l ip | for t h e t i m e | be ing shal l be t he | Pres ident | of | t h e | said |
| i n s t i t u t i on | a n d tha t | t h e m a n a g e m e n t | of | t h e | affairs | of | t h e | same | shall |
| be vested in twelve Trus tees to be appointed by t h e said | Super in tenden t |
of w h o m one shall be styled Vice-Pres ident and t h a t t h e said Super in t enden t shall and m a y from t i m e to t ime remove from office; all or any of t he Trus tees of t he said ins t i tu t ion a n d re-appoint t h e same or any of t h e m or shal l and m a y appoin t o thers or ano the r in the i r or h is place or stead and in case of any vacancy occurr ing in t h e n u m b e r of such Trus tees or of any appo in tmen t r emova l r e -appo in tment or fresh appo in tmen t as aforesaid of any such Trustees t he same shal l be p u b l ished in t he New South Wales Government Gazette by order of t h e
| 3. A n d be i t enacted | T h a t t he said reci ted A c t as amended by |
th is Ac t shall ex tend and apply to t he said Savings ' B a n k to be estab l ished at P o r t Phi l l ip unde r th i s Ac t or Ordinance a n d to such branches thereof as m a y from t ime to t ime be establ ished and t h e several clauses and provisions thereof shall be he ld to govern and regu la te t h e said Savings ' B a n k of P o r t Phi l l ip in as full and ample a m a n n e r to all i n t en t s and purposes so far as t h e same are appl icable and can be appl ied the re to as if t h e said b a n k h a d been establ ished unde r t he
| said reci ted Ac t a n d had | been specially n a m e d | the re in and | the |
Pres ident Vice-Pres ident and Trus tees as well as t he Accoun tan t s a n d other officers of t h e said Savings ' B a n k shall and m a y exercise and perform respectively t he same powers au tho r i t y control and dut ies in
| t he m a n a g e m e n t of t h e concerns of t h e | said | bank | or | of any | b ranch |
| thereof which m a y be es tabl ished as aforesaid as t he Pres iden t | Vice- |
| Pres iden t Trus tees Accoun t an t s | and | o the r officers of t he Savings ' | B a n k |
| of N e w Sou th W a l e s do or | m a y exercise | in | t h e | m a n a g e m e n t | of | t he |
affairs of t h e said Savings ' B a n k of N e w South Wales .
| 4 . A n d he i t enacted Tha t wherever in t h e said reci ted | Ac t |
or in th i s A c t t he word " Governor" occurs t h e same shall i n respect to t he said h a n k to he established a t Me lbourne as aforesaid be held to m e a n " t h e Super in tenden t of t h e Dis t r ic t of P o r t Phi l l ip " or " t h e Chief Officer of Government " res ident in t h e said dis t r ic t and t h a t wherever in t h e said reci ted Ac t t he words " Supreme Cour t of N e w Sou th W a l e s " or " t he Chief Clerk of t h e Supreme Cour t of N e w South W a l e s " occur t he same shall be he ld to m e a n respectively " the Sup reme Cour t established a t P o r t Ph i l l ip unde r t h e jur i sd ic t ion of t h e Res iden t Juds>:c" or " t h e Chief Officer of t h a t C o u r t " and t h a t wherever t he words " Colonial B a n k " or " Banks in Sydney" occur t h e same shall in respect of t h e said Savings ' B a n k to be established
| a t | Me lbou rne | be | held | to | m e a n | " Colonial | B a n k | or B a n k s | in |
M e l b o u r n e . "
5. A n d whereas i t is deemed expedient to amend the said rec i ted Act b y es tabl ishing a rest or securi ty fund to meet any deficiency or loss which may unexpectedly occur Be it therefore enacted T h a t ou t of t h e profits of t he business of t he Savings ' B a n k of
| N e w South W a l e s and of the Savings ' B a n k to be | established a t | Por t |
| Phi l l ip t h e Trus tees | of t he | said b a n k s respectively | shal l and | m a y |
| annua l ly set apa r t such sums not be ing less t h a n one twent ie th nor | more |
| t h a n one t e n t h pa r t of | t h e whole a m o u n t of | in teres t | divisible | for | t h e |
year a m o n g the depositors as such Trustees m a y t h i n k proper towards t h e es tabl i shment of a rest or securi ty fund for such b a n k s respectively for t he purpose of mee t ing any loss or deficiency which m a y unex pectedly occur un t i l such res t or securi ty fund shal l amoun t to one twen t i e th pa r t of t h e whole s u m which shal l at t h a t t ime be in deposit in t he said b a n k s respectively and thereaf ter t h e Trustees of t h e said b a n k s respectively shall a t t h e end of each and every year add to or t ake from the said res t or securi ty fund such a s u m as shall cause t h e a m o u n t thereof a t t h e commencement of each succeeding year to be
| as nea r ly as convenient ly pract icable | one twen t i e th | p a r t of t he whole |
| a m o u n t | t hen in | deposit. |
| 6. A n d whereas i t is expedient fur ther to amend the said reci ted A c t by providing for t h e more easy recovery of monies a n d | securit ies |
in t he hands of officers of t h e said b a n k s or t he i r executors in t he event of t he insolvency or death of such officers Be i t therefore
| e i ther of t he said Savings ' B a n k s or any b ranch thereof and hav ing in | enacted Tha t if any person now or hereafter ho ld ing any office in |
| his hands or possession any monies or effects be longing to such Savings ' B a n k or any deeds or securit ies r e la t ing to t he same shall become b a n k r u p t or insolvent or shall m a k e any ass ignment of his lands goods chat tels or effects for t he benefit of his creditors or against, whose lands goods chat te ls or effects any execut ion a t t a chmen t or other process shall have issued or if any such officer shall die t hen a n d in any such case it shall and m a y be lawful for any two or more of t h e Trus tees of t h e said Savings ' B a n k s respectively to apply to such officer or to his assignees or t o the Sheriff or other person execut ing such process or to his executors or admin i s t ra to r s or to any other person or persons hav ing legal r igh t as t h e case may requ i re a n d to demand t h a t such monies or effects be longing to such Savings ' B a n k and all deeds securi t ies or papers re la t ing to t he same shal l be pa id over or delivered u p to t he said Trus tees or to such person as they shal l appoint and the p a r t y or par t ies so applied to a n d hav ing t h e same shall w i th in forty days after such demand as aforesaid deliver over to such Trus tees or t o any person or persons w h o m they may appoint to receive t h e same all effects or o ther th ings be longing to such Savings ' |
Bank
B a n k and all deeds securi t ies or papers r e l a t ing to t h e same and shal l pay out of t h e estates assets or effects of such person so be ing or hav ing been a n officer of t he said b a n k al l sums of money be longing or due by such officer to t h e said b a n k before any o ther of t h e debts of t h e said officer are paid or satisfied or before t he money directed to be levied by such process as aforesaid is paid over to t h e pa r ty issuing such process as t h e case may be and all assets l ands goods chat te l s es ta tes and effects shall be b o u n d to t h e paymen t and discharge thereof accordingly.