Proceeds of Crime (Commonwealth Bank of Australia) Regulations (Cth)

Statutory Rules 1993

No. 328 1

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Proceeds of Crime (Commonwealth Bank of Australia) Regulations

I, The Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Proceeds of Crime Act 1987 and the Commonwealth Banks Act 1959.

 Dated 2 December 1993.

 BILL HAYDEN

 Governor-General

 By His Excellency’s Command,

d. kerr

Minister for Justice

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Citation

 1. These Regulations may be cited as the Proceeds of Crime (Commonwealth Bank of Australia) Regulations.

[NOTE:

 These Regulations commence on gazettal: see Acts Interpretation Act 1901, s. 48.]

Arrangements relating to the Commonwealth Bank of Australia

 2. (1) In relation to a relevant offence, within the meaning of section 34c of the Proceeds of Crime Act 1987, that was committed before 17 April 1991, the Commonwealth Bank of Australia, as it exists after 17 April 1991, is declared to be incorporated for a purpose of the Commonwealth:

• (a)

  for the purposes of the Proceeds of Crime Act 1987; and

• (b)

  for the purposes of section 27h of the Commonwealth Banks Act 1959.

 (2) For the purposes of the definition of “GBE” in subsection 4 (1) of the Proceeds of Crime Act 1987, the Commonwealth Bank of Australia is prescribed.

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NOTE

1. Notified in the Commonwealth of Australia Gazette on 10 December 1993.