Public Depositors' Relief Act 1893 (WA)

57 VICTbRIE. No. 7

The Public Depositors' Relief Act of 1893

WESTERN AUSTRALIA

ANNO QUINQUAGESIMO SEPTIMO

VICTORIA REGIME

No. 7

An Act to authorise the Colonial Treasurer of the Colony to make Advances in respect of Deposits of a Public Nature in Banks that have Suspended Payment, and for other purposes connected therewith.

[Assented to 14th September, 1893.

lative Assembly of Western Australia, in this present Parliament the advice and consent of the Legislative Council and Legis- assembled, and by the authority of the same, as follows :- BE it enacted by the Queen's Most Excellent Majesty, by and with

Preamble

Interpretation 1. In this Act- ' Stopped Bank' means any bank heretofore or hereafter

trading in Western Australia, which has notified its inability to meet its engagements, and whether a petition for winding-up has or has not been presented against it;

' Liquidator' means any official liquidator, provisional official liquidator, or liquidator, as the case may be, of any company, and also the Lustee of any estate being wound up under any law relating to bankruptcy.

Act to apply to	2. This Act shall only apply to and in respect of deposits in any
iieposits of a

public nature stopped Bank, made by or standing to the credit of any

(1) Agricultural and Horticultural Society ;

(2) Board of Education ;

(3) Fire Brigade ;

(4) Hospital and other Charitable Institution ;

(5) Mechanics' Institute ;

(6) Militia and Volunteer Corps ;

(7) Municipal Council ;

(8) Police Benefit Fund ;

(9) Public Library ;

(10) Public Museum ;

(11) Roads Board ;

(12) Working Men's Institute ;

and any other deposits that the Colonial Treasurer may consider to be

of a public nature.

Application for

advance 3. It shall be lawful for any such depositor as aforesaid to make application in writing to the Colonial Treasurer for an advance of a sum not exceeding the amount due or to become due by a stopped Bank in respect of such deposit.

57 VICTORDE. No. 7

The Public Depositors' Relief Act of 1893

4. The Colonial Treasurer may thereupon require such stopped What inquiries

Bank to furnish him with such information respecting the account to be made

of such depositor as he thinks fit, and such information shall, if

required, be verified upon the oath of the Manager or Liquidator

thereof.

5. The Governor in Council may, if he shall think fit, but not Authority to otherwise, thereupon authorise the Colonial Treasurer to advance out make advance of the Consolidated Revenue to such depositor a sum not exceeding

the amount due or to become due by any such Bank in respect of such

deposit.

6. Upon the making of any such advance, the Liquidator or Transfer of Manager of any stopped Bank, or the Manager of any Bank taking 1``,7„Vendo over the liabilities of any stopped Bank, shall upon the application of rniaE

the Colonial Treasurer transfer the account of such depositor into the reasnra

name of the Colonial Treasurer of the Colony, and shall also deliver

to the Colonial Treasurer all certificates or other securities repre-

senting the amount of such account ; and the Colonial Treasurer shall

to the extent thereof, by virtue of this Act, have all the rights, powers,

and remedies of such depositor against such Bank : Provided always,

that any debt due to the Colonial Treasurer as holder of any such certifi-

cates or other securities shall not, se far as regards priority of payment

of that debt, be deemed a Crown debt.

7. The Colonial Treasurer shall receive and pay into the Con- Colonial

instalments and moneys of the capital sum, together with all divi- from Bank into	solidated Revenue Fund of the Colony, for the use of Her Majesty, all ,T„`,,',aZarelr„teUe,af
lends, interests, and annual or other profits due or payable in respect 2,ez40 ,11:lieinted
of any such certificates or other securities.

8. An account shall be kept by the Colonial Treasurer of all Account to be n zativ a

advances made under this Act to any depositor, and of all money s

received by the Colonial Treasurer, together with full and detailed ;comities ta

ns.

particulars of such depositor's account, and of all certificates or other erred

securities transferred to the Colonial Treasurer on account of such

depositor.

9. This Act may be cited as The Public Depositors' Relief Act of short title

1893.'

W. C. F. ROBINSON,

GOVERNOR.