Rural Bank (Agency) Act 1934 (NSW)

646 Rural Bank (Agency) Act.

RURAL BANK (AGENCY) ACT.

Act No. o(), 1934.

George V, An Act to make further provision for and with

No. ^ 1 9 3 4 .

respect to the Government Agency Depart ment of the Rural Bank of New South Wales, and the powers, authorities, duties and functions to be exercised and per formed by that Bank through that Department; to amend the law relating to the tenure of office of the Commissioners appointed under the Rural Bank of New South Wales Act, 1932, and to the office of Director under the Farmers' Relief Act, 1932-1934: to vahdate certain matters; to amend the said Acts, the Government Savings Bank Act, 1906, and certain other Acts; and for purposes connected there with. [Assented to, 28th December, 1934.]

T~)E it enacted by tlie King's Most Excellent Majesty, X ) by and with the advice and consent of the Legis lative Council and Legislative Assembly of New South Wales in Parliament assembled, and by the authority of the same, as follows :—

PART I.

.	P r e l im in a iiy .

Short title.

! • (1) This Act may be cited as the “ Rural Bank (Agency) Act, 1934,” and shall be read with the Govern ment Savings Bank Act, 1906, as amended by subse quent Acts including the Commonwealth and State Banks Agreements Ratification xVct, 1931, and the Rural Bank of New South "Wales Act, 1932.

Rural Bank (Agency) Act.

C47

No. 56, 1934.

(2) The Government Savings Bank Act, 1906, as

so amended is in this Act referred to as the Principal A(;t.

(3) Nothing in this Act shall affect the operation Savings,

of the Commonwealth aiid State Banks Agreements Kati- fication Act, 1931, or of the Agreements, coi)ies whereof are set out in the Seliedules to that Act.

2 . This Act is divided into Parts, as follows: —

Division into

PART

I .— P eelim in a ey— SS.

1, 2.

Parts.

PART II.— P eovisions eelating to t h e Goveenm ent

A gency D epaetm ent of t h e B ank— ss. 3-9.

PART III.— A m en dm ents of vaeiotjs A cts eelating

TO THE R ueal B ank— ss. 10-17.

PART II.

P rovisions relating to t h e Governm ent A gency

D epartm ent

t h e

B a n k .

3 . The Principal Act is amended by omitting Pait Amendment

VIb and by inserting in lien thereof the following Part:— 48'i9o^°’

Substituted

PART VIb.

PartviB.

G overnm ent

A gency

D epa rtm en t .

D ivision 1.— General.

70ii. (1) There shall bo a Government Agency Government Department of the bank to exercise and perform the pfp“rfment powers, authorities, duties and functions conferred ' or imiiosed upon the bank in respect of the several

agencies established liy or under this Part of this Act.

(2) Separate accounts shall be kept by the

bank in respect of each agency.

(3) There shall be provided from time to time to the Government Agency Department for the purposes of this Part of this Act—

(a)	such moneys as may be appropriated fromi time to time by Parliament;
(b)	such moneys as the Treasurer may make available to the bank for the purposes of any agency;

(c)

648 Rural Bank (Agency) Act.

No. 56, 1934.

(c)	such part of tlie proceeds of the sale of debentures or inscribed stock as may be allocated under section 36a of this Act to any agency.

Separate	70i. (1) The liability of the bank in respect of Department shall be shown in a separate account in the books of the said department wherein the Treasurer shall bo credited with the total amount which immediately before the appointed day was owing or payable to the principal.
aecoxmts of
the several	each of the agencies in the Government Agency
agencies.
In this subsection the expressions “ appointed day ” and “ principal ” have the meanings assigned to those expressions in section 70r of this Act.

(2) In each such account the Treasurer shall

from time to time—

(a) be credited with—■

(i) any further amounts to become due to the bank in respect of such agency for capital moneys;

(ii) so much of any moneys appropriated by Parliament for the purposes of the Govern ment Agency Department as is allotted by the liank to such agency;

(Hi) any amounts made available to the bank for the purposes of such agency under para graph (b) of subsection three of section 70h of this Act;

(iv) revenue which becomes due to the bank in respect of such agency;

(b) be debited with—

(i) the amount by which the indebtedness of any person to the bank in respect of such agency is reduced by or under this or any other Act;

(ii) the amounts of any losses on realisation of any security;

(iii) the amount due to the bank in respect of such agency by any x>erson, on forfeiture of a holding or on surrender of a holding or cancellation of a contract or arrange ment for the sale of land, where such hold ing or land becomes available for disposal

under the Crown Lands Acts;

(iv)

Rural Bank (Agency) Act..

649

(iv) any amount paid to tlic Treasurer in pur suance of section 70m of this Aid;

(v) revenue moneys paid to the Treasurer in pursuance of section 70k of this Act.

70j . For each agency in the (jovernment Agency Banking

Department there shall lie opened a banking account

in the Rural Bank Department and to the credit of

such account shall be deposited all moneys received

by the bank in respect of the agency.

70k. (1) As soon as practicable after the end of MoiUiiy uans-

each month the bank shall ascertain in respect of en.uicnt Agcmy each account mentioned in section 70j of tliis Act c\̂ [TprAccoum the amount of the preceding month’s credits which IhATgenoy

represents capital moneys and the amount of such Kl'[7!nueAc Department Capital Account” and the amount which represents revenue moneys to the credit of an account in the Rural Bank Department styled the “ Govern ment Agency Department Revenue Account

credits wliich represents revenue moneys and shall

transfer the amount which represents capital moneys

to the credit of an account in the Rural Bank

Provided that nothing in this subsection shall

prevent the bank from making intermediate trans

fers subject to s, final monthly adj:;itmcnt as pro

vided herein.

‘

(2) The money to the credit of the Govern ment Agency Department Revenue Account shall be paid to the Treasurer as and when available.

(3) For the purpose of this section—^

(a)	“ Capital moneys ” means repayments of principal sums advanced to debtors and of moneys disbursed by the bank on behalf of debtors and all moneys received by the bank other than revenue moneys.
(b)	“ Revenue moneys ” means, in addition to moneys received for rentals, interest and water rates and charges, all moneys received—

(i) for purchase money or otherwise in respect of sale of land within tlio Coomealla Irrigation Area;

(i i)

650 Rural Bank (Agency) Act.

No. 56, 1934.

(ii) for purchase money or otherwise in respect of sales of land in pursuance of sections 11b and 11c of the Irrigation Act, 1912-1931;

and includes such other moneys as the hank

may decide are revenue moneys.

Power to	70n. The bank may keep such further accounts as
keep further

accounts.

it deems necessary in respect of each agency to

record the operations of such agency.

agencies.

Grouping of

70ir. (1) For tlie purposes of this section the agencies to be conducted by the bank shall be placed in two groups as under—

Group 1. Building Belief Agency. Advances to Settlers Agency.

Group 2. Farmers Belief Agency, Government Guarantee Agency.

Government Housing Agency,

Home Building Scheme Agency.

Irrigation Agency.

Bural Industries Agency.

(2)	The bank shall keep a subsidiary account

in the Government Agency Department Capital Ac count in respect of the amounts at credit of tho agencies in each such group and may utilise the amount at credit in any such subsidiary account fof the purpose of administering and continuing and of making advances or capital expenditure in respect of any agency in the group to which such subsidiary account relates, or may at any time when moneys are available repay to tha Treasurer the whole or any part of any moneys appropriated by Parliament for the purposes of the Government Agency Department or mafic available by the Treasurer in pursuance of paragra])h (b) of subsection three of section 70ii of this Act.

70.\.

Rural Bank (Agency) Act.

C5l

No. 56, 1934.

70x. The bank shall not be required or liable to allow interest on the amount standing at credit of tho	No interest
payable on money in (Jov-
Government Agency Department Capital Account or	01 ninerit Agency
Department
the Government Agency Department Revenue Ac	Capital and Re\ enue Ac
count in the Rural Bank Department at any time,	counts.
and no interest shall be payable on the amount at credit of the Treasurer in any of the accounts men tioned in section 70i of this Act.

70o. The Treasurer may in respect of any agency power of

in tho GoN'eniment Agency Department direct the

rate of interest to be charged, the maximum amount rates, etc., in

which may be advanced to any borrower or expended ct‘i*aiu

on behalf of any applicant, the period for which any " "

advance may be made and the purposes for which	.
the same may be granted in any case in which such rate, amount, period or purposes are not regulated by or under any Act and the bank shall give effect to any such direction.
Any such direction, if given, shall be given generally in respect of a class of borrower, applicant, or advance.

70p . The whole of the costs of administration of Costs ot ad-

cvery agency carried on by the bank in its Govern- i>’-"“stration.

ment Agency Department as certified to by the Cora-

missioners shall be paid by the Treasurer to the bank

from time to time as and when required, and shall

be charged on the Consolidated Revenue Fuad, whitih

is hereby appropriated accordingly.

70q. Notwithstanding the provisions of the Audit Audit Act,

or any otlier Act or any previous method or custom keeping of

of keeping accounts, tho bank shall not be bour.d

to keep any accounts in its Government ^Vgenev ment Agency

Department regulating or showing its jiosition with î ciiartmont.

the Treasurer other than those i^rescribed in this

Act, 1902, or any Act varying or amending the same cerned or bound to show in any account the source or loan appropriation or vote from which the moneys represented by the assets transferred to and vested in the bank were provided.

70r.

652 Rural Bank (Agency) Act.

No. 66, 1934.

70e. (1) In this section the expression—

Transfer of

powers, etc.

“ tho appointed day ” means—

(a)

in the case of any agency established by any Division of this Part of this Act which is expressed to commence upon a day to be apijpinted by the Governor (whether or not on the recommendation of the bank and any Minister) and notified by proclamation published in the Gazette —the day so appointed and notified for the commencement of the Division creat ing such agency;

■

(b)

in the case of any other agency estab lished by any Division of this Part of this Act—the day upon which the Rural Bank (Agency) Act, 1934, commences;

■

“ Principal ” means tlie Crown, or the Minister of the Crown as such or the person (whether a statutory body or otherwise) acting on behalf of or as an instrumentality of the Crown which, before tho appointed day, exercised or performed the powers, authorities, duties and functions in respect of which, on the appointed day, an agency is established in the Government Agency Department of the bank.

(2) On and from the' appointed day the fol lowing provisions shall have effect—

(a)

where any act, matter or thing has been com menced before the appointed day by the prin cipal, and such act, matter, or thing relates to the exercise or performance of any power, authority, duty or function in respect of which an agency is established by or under this Part of this Act, such act, matter or thing may bo carried on and completed by the bank;

(b)

where, at the appointed day, any legal pro- eeeding is pending to which the principal is a party, and such proceeding has reference to the exercise or performance of any power, authority, duty or function in respect of which an agency is established by or under this Part of this Act, such proceeding may be continued

by or against the bank;

(c)

Rural Bank (Agency) Act.

653

No. 56, 1934.

(c)

any action or proceeding and any cause of action or proceeding pending or existing im mediately before the appointed day, by or against the principal and arising out of or in relation to tlie exercise or performance of any power, authority, duty or function iu respect of wliicli an agency is established by

̂ or under this Part of this Act, may be con

tinued or taken by or against the bank;

<(d) all moneys and liquidated or unliquidated claims which immediately before the ap pointed day are payable to and recoverable by the principal in the exercise or performance of any power, authority, duty or function in respect of which an agency is established by or under this Part of this Act, shall be moneys and liquidated or unliquidated claims payable to and recoverable by the bank;

'(e) all contracts, agreements and undertakings entered into with, and all securities lawfully given to or by the principal in the exercise or performance of any power, authority, duty or function in respect of which an agency is •established by or under this Part of this Act, and in force immediately before the appointed day, sliall be deemed to be contracts, agree ments and undertakings entered into with, and securities given to or by the bank;

>(f) the bank may pursue the same remedies for tho recovery of any such moneys and claims, and for the prosecution of such suits, actions and proceedings as the principal might have done but for this Act;

(g)	the bank may enforce and realise any security or charge existing immediately before the appointed day in favour of the principal in respect of any such moneys and claims as if such security or charge were existing in favour of the bank;
(h)	all debts due and moneys payable by, and all claims, liquidated or unliquidated, reeoverabb} against the principal in relation to any power,

authority.

654 Rural Bank (Agency) Act.

No. 56, I9S4.

authority, duty or function in respect of which an agency is established by or under this Part of this Act, shall be debts due and moneys payable by and claims recoverable against tho bank;

(i) a reference in any regulation, proclamation,

notification or notice made, published or given under any Act amended by the Eural Bank (Agency) Act, 1934 (whether directly or by the enactment of any provision in this or any other Act effecting such an amendment), to the principal in relation to the exercise or per formance of any power, authority, duty or function in respect of which an agency is

established by or under this Part of this Act, shall be read and construed as a reference to the bank.

(3)	The bank may, where any moneys which

are due and payable in relation to any power, authority, duty or function in respect of which an agency is established by or under this Part of this Act, and whether the same are due and payable to the principal on the appointed day or become due and payable to the bank thereafter—

(a)	ask, demand, sue for, recover and receive such moneys, and give effectual receipts and dis charges for the same;
(b)	suspend or allow further time for payment of such moneys;
(c)	settle, adjust, compromise, postpone or con solidate the debts relating to such moneys or any claims in respect of any agency;
(d)	require the person indebted to it in respect of such moneys to execute such securities as it may deem necessary;
(e)	with the concurrence of the Auditor-General write off cither wholly or in part any debt relating to any such moneys which in the opinion of the bank are not recoverable;
(f)	take any other action whatsoever for or towards the recovery of any such moneys, or the better securing the repayment of the same,

Rural Bank (Agency) Act.

685

No. 56, 1934.

or the preservation or protection of any security for tlie repayment of the same, whether by way of sale or foreclosure of mortgaged property or the taking of new or additional security or otherwise.

(4)	As soon as practicable after the ap

pointed day—

(a)	all books of account, records, securities and other documents held by the principal which relate exclusively to the agency shall be trans ferred to the bank;
(b)	the principal shall furnish to or permit the bank to make copies of or extracts from so much of any other books of account, records, securities and other documents held by the jirincipal as relate to the agency;
(c)	tho Auditor-General shall certify to a state ment to be prepared by either the principal or the bank of the amounts due to the principal immediately before the appointed day by each mortgagor or other debtor;
(d)	the bank and the principal shall arrange and agree as to the division between them of the fnrnitnrc, fittings and office equipment held or used by the principal immediately before the a])i)ointed day in connection with the agency.

(.■)) qiie Treasurer shall, as arranged from time to lime, ]iay to the bank the moneys held by him, immediatc'ly before tho appointed day, at credit of any acx'onnt at the Treasury kept for tho purposes of or in relation to the exercise or performance of any ])ower, authority, duty or function in respect of which an agency is established l)y or under this Part of this Act.

(G) The provisions of this section shall be road and construed cuinnlatively with and not in impairment or derogation of any powers conferred on the bank by any other provision of this Act or by any other Act now or hereafter to be passed.

70s.

656 Rural Bank (Agency) Act.

No. 56, 1934.

70s. (1) Where tlie same person is indebted to

Power of

bank to	the bank in respect of more than one agency or in
make appro	respect of any Department of the banlt and also of
priations.	any one or more agencies, the bank may appropriate any moneys received by it (which are not otherwise appropriated by the person paying the same) to the satisfaction or part satisfaction of the indebtedness of the first-mentioned person in respect of such agency or Department as the bank may determine.

Power of	(2)	Any amount payable to the bank in
bank to de

termine	respect of any agency in the Government Agency
place of	Department by any person shall be paid at such
payment.	branch or agency of the bank or in such manner as the bank may determine, and notify in writing to such person.
Statement in

writing by	70t . (1) A statement in writing signed by any
Commissioner

or authorisetl	one of the commissioners or by an officer of the bank
officer prima
iacie evidence.	duly authorised for the purpose, that on a specified day a specified amount was due and owing to the- bank in respect of an agency in the Government Agency Department—

(a) by a specified person; or

(b)	under or in accordance with a specified security,

shall be prima facie evidence of the facts so stated.

(2) A statement in writing signed by any ono

of the commissioners or by an officer of the bank

duly authorised for the purpose that a security, or

the debt thereby secured, or any money due there

under, or that the right to recover any money or

debt is vested in the bank in respect of a imrticular

agency, shall be prima facie evidence of the facts so

stated.

Officers au	70u. Xotwithstanding anything to the contrary
thorised to

obtain ad	contained in section thirty-five of this Act, any officer
vances under	or seiwant of the bank may be permitted to obtain
this Part.	an advance under the provisions of this Part of this Act.
Indemnity.	70v. The bank is hereby indemnified by the State in respect of any act done by it and of any losses, costs or damages incurred by it in the bona fide

exercise

Rural Bank (Agency) Act.

657

N(i. 56, 1934,

exercise or performance of the po^vors, autliorities, duties and functions conferred or imposed upon it by or under this Part of this Act.

70w. (1) The Governor may make regulations not Eeguiations,

inconsistent with this Part of this Act prescribing all matters which are necessary or convenient to be prescribed for carrying out or giving effect to this Part of this Act.

(2) Without prejudice to the generality of cf.AetX o.

the power conferred by subsection one of this section

the Governor may make regulations in relation to— (b) (o).

(a)	any power, authority, duty or function con ferred or imposed upon the bank by or under this Part;
(b)	matters which under any Act (other than this Act) applying to the bank in respect of its Government Agency Department, may be the subject of by laws, rules or regulations:

Provided that where regulations are so made under this Part the power given by any such Act to make by-laws, rules or regulations shall, in so far as such power relates to mat ters provided for by regulations made under tliis Part, be thereby repealed.

(3) The regulations may prescribe a penalty not exceeding twenty pounds for anj ̂ breach of the regulations.

(4) The regulations shall—

(a) be published in the Gazette;

(b)	take effect from the date of such publication or from a later date to be specified in the regulations;

' (c) be laid before both Houses of Parliament within fourteen sitting days after publication if Parliament is in session, and if not, then within fourteen sitting days after the com mencement of the next session.

(5) If either House of Parliament passes a resolution of which notice has been given within fifteen sitting days after the regulations have been laid before such House disallowing any regulation or part thereof, such regulation or part shall there upon cease to have effect.

D ivision

658 Rural Bank (Agency) Act.

No. 56, 1934.

D ivision 2.— Home Building Scheme Agency.

Home Build

ing Scheme	70x. (1) There shall be an agency in the Govern ment Agency Department called the “ Home' Building Scheme Agency ” and the bank may, through such agency at its discretion make advances uiion such securities and at such rates of interest and subject to such covenants, conditions and pro visions as it may impose to persons who are borrowers from the Advances for Homes Depart ment to enable and assist them to erect, complete or enlarge dwellings.
Agency.
(2) Any advance made by the bank on or at any time after the first day of April, one thousand nine hundred and thirty-four, and before the com mencement of the Rural Bank (Agency) Act, 1934, which would have been valid if this section had been in force at the time the advance was made is hereby validated.

D iv is io n 3.—Building Relief Agency.

Commence

ment of	70v. This Division shall commence on a day to be appointed by the Governor on the recommendation of the bank and the Minister for Labour and Indus try, jointly, and notified by proclamation published in the Gazette.
Division.
Building
Belief	70z. There shall be an agency in the Government Agency Department called the “ Building Relief Agency ” to exercise and perform tho powers, authorities, duties and functions conferred or im posed upon tho bank by this Division.
Agency.
Moneys

owing to

70-\a. All moneys owing to the Treasurer or to the

bank in	Crown immediatelj" before the commencement of this
respect of	Division in respect of advances made through tho
the agency.	bod.v known as the Building Relief Committee shall on such commencement become and be moneys owing to the bank.

Powers of	70bb. The bank may through the Building Relief
bank in re

spect of	Agency at its discretion make advances upon such
agency.	securities and at such rates of interest and subject to such covenants, conditions and provisions as it may impose, for tho purpose of enabling—

(a)	any proprietor of land to alter, extend, paint, repair, renovate or improve buildings on

such

Rural Bank (Agency) Act.

659

Ne. 56, 1934.

such land, or to lay down and construct tennis courts or paths and other cement and concrete works on such land;

(b)	any person who is the proprietor of land in a rural area, from the working- of which he proposes to obtain a living, to erect on such land a small building as a home for himself and his family;
(c)	any public hall, soldiers’ memorial hall, school of arts or other building of a public or civic character or any public recreation ground to be constructed, erected, renovated, repaired or extended;
(d)	any pastoral agricultural and horticultural association, club, literary institute, progress association, tennis association or friendly society to extend, paint, repair and renovate buildings.

D ivision 4.— Rural Industries Agency.

70cc. This Division shall commence on a day to Coinmenco-

be appointed by the Governor on the recommenda tion of the bank and the Minister for Agriculture jointly and notified by proclamation iniblishcd in the Gazette.

70dd. There shall be an agency in the Government itnmi indus-

Agency Department called the “ Eural Industries Agency ” to exercise and perform the powers, authorities, duties and functions conferred or im posed upon tho bank by this Division.

70ee . All moneys owing immediately before the Moneys

commencement of this Division to the IMinister for made before such commencement through the Minis ter for Lands, the Minister for Agriculture, tlie Rural Industries Branch and the Eural Industries Board (other than advances made through the Rural Industries Branch from funds made available for the relief of unemployment) shall on such commence ment become and be moneys owing to the bank.

Agriculture or the Crown operating through the respect of

70f f .

660 Rural Bank (Agency) Act.

No. 66, 1934.

70f p . The bank may through the Rural Industries

Powers of

the bank in

Agency at its discretion make advances, upon such

respect of

securities and at such rates of interest and subject

the agency.

to such covenants, conditions and provisions as it

may impose—

(a)	for the assistance or relief of persons engaged in agricultural, pastoral or dairying pursuits or in primary production of any kind;
(b)	to any da’ry farmer or beef cattle breeder for the purpose of purchasing suitable bulls to improve his herds;
(c)	to any grazier for the purpose of purchasing’ suitable rams to improve his flocks;
(d)	to any pig’ farmer for the purpose of purchas ing suitable boars to improve his stock.

D ivisio n 5.—Advances to Settlers Agency.

Commence	70gg. This Division shall commence on a day to dation of the bank, the Minister for Lands and the Minister for Agriculture jointly, and notified by proclamation published in the Gazette.
ment of	be appointed by the Governor upon the recommen
Division.
Advances to	70h h . There shall be an agency in the Government Settlers Agency ” to exercise and perform the powers, authorities, duties and functions conferred or imposed upon the bank by this Division.
Settlers	Agency Department called the “ Advances to
Agency.

Moneys	70ii. All moneys OAving immediately before the
owing

to bank in	commencement of this Division to the ^Minister for
respect of	Lands or the Minister for Agriculture or the Crown
the agency.	in respect of advances made before such commence ment from funds aA’ailable for the relief of unemploy ment

(a)	in the name of the Minister for Lands througli the Advances to Settlers Co-ordination Board;
(b)	in the name of the Minister for Agriculture through the Dairy Promotion Board; or
(c)	in the name of the Minister for Agriculture through the Rural Industries Branch,

shall on such commencement become and be moneys

OAving to the bank.

70j j .

Rural Bank (Agency) Act.

661

7 0 j j . The bank may through the Advances to Settlers Agencv, at its discretion and with the Powers of

•

i * j _ j i * i * *

licink in r©“

pi’imaiy object or relieving unemplo^Tiient, make speefofthe

advances upon such securities and at such rates of agency,

interest and subject to such covenants, conditions

nnd provisions as it may impose—

(a)

to any farmer, grazier or landholder

(i)	for ringbarking, suckering, clearing of land for cultivation, felling or rolling scrub, fencing, water conservation, exter mination of rabbits, construction of silos; or
(ii)	for tho erection of buildings and other

structures on dairy farms to provide for	■
sharefarmers; or

(iii) for any purpose of a like nature; or

(b)	to any landholder or settler taldng up land with the ol)ject of dairy farming, for tho pur pose of purchasing stock or jiroviding neces sary improvements or plant.

Division 6.—Government Housing Agency.

70kk. (1) There shall he an agency in the Govern- Government

ment Agency Department called the “ Government Housing .

•Housing Agency ” to administer such properties

and securities as were immediately before the com-

meucement of the Dural Bank (Agency) Act, 1934,

administered by the bank through the Government

Housing Department.

(2) The bank shall, through its Government Housing Agency, collect all payments of purchase money and interest, and all repayments of advances and interest thereon made under the Housing Act, 1912, and Acts amending the same, or aiw other amounts receivable in connection therewith, so far as the properties sold or the securities for the ad vances have been vested in the bank in pursuance of the Housing (Amendment) Act, 1924.

D ivision

662 Rural Bank (Agency) Act.

No. 56, 1934.

D ivision 7.— Government Guarantee Agency.

Commence

70l l . This Division shall commence on a day to be appointed by the Governor on the recommendation of the bank and the Minister for Agriculture jointly, and notified by proclamation published in the

ment of

Division.

Gazette.

Constitution	70m m . There shall be an agency in the Government
of Govern

ment	Agency Department called the ‘ ‘ Government Guaran
Guarantee	tee Agency,” to exercise and jierform the powers,
Agency.	authorities, duties and functions conferred or im posed upon the bank by this Division or by the Advances to Settlers (Government Guarantee) Act,
1929-1934, or by the Rural Bank (Agency) Act, 1934.
transfer cer

Power to

70n n . (1 ) Where, before the commencement of

tain amounts

this Division, the Government Guarantee Board had

to accounts

in the Eural

given a guarantee in favour of the bank, the

Bank De

Treasurer shall in any case where, if the Rural Bank

partment.

(Agency) Act, 1934, had not been enacted, the bank would have been entitled to enforce the guarantee against the Government Guarantee Board, pay to the appropriate account in the Rural Bank Department of the bank, such amount as would have been recover able under the guarantee.

(2) In any case where an advance or a further advance, as the case may be, has been made to any settler under the authority of section G8b of this Act, the Treasurer shall pay to tho appropriate account in the Rural Bank Department, such amount as, when tlie bank has exercised or is unable to exer cise its rights and remedies under all securities held by or for it in respect of the indebtedness of the settler to whom the advance or further advance was made, remains due and owing to the bank.

(3) Any payment by the Treasurer under this section shall he charged on the Consolidated Revenue Fund, which is hereby appropriated accordingly.

Definition of

70oo. In this Division the expression ‘‘settler” has the same meaning as is assigned to that expression bv the Advances to Settlers (Government Guaran

“ settler.”

tee) Act, 1929-1934.

D ivision

Rural Bank (Agency) Act.

663

No. 56,

1934.

D iv is io n 8 .— In igation Agency.

TOi'p. This Division shall commence on a day to comnenee-

be appointed by the Governor on the recommenda tion of the bank and the Minister for Agriculture jointly and notified by proclamation published in the Gazette.

70qq. There shall be an agency in the GoTcrn-

ment Agency Department called the “ Irrigation Agency.

Agency ” to exercise and perform the powers,

authorities, duties and functions conferred or im

posed upon the bank by this Division, or by the

Wentworth Irrigation Act, the Hay Irrigation Act,

1902, the Irrigation Act, 1912-1931, the Crown Lands

Consolidation Act, 1913, or the Water Act, 1912

1930 as respectively amended by the Rural Bank

(Agency) Act, 1934.

70kk. All moneys owing immediately before the Moreys

commencement of this Division to the Water Conser

owing to

ban V

vation and Irrigation Commission or the Crown—

tlie agency.

H'spect of

(a)	for purchase money, rental (other than rental of lands leased by the Water Conservation and Irrigation Commission in pursuance of tho proviso to section six of the Irrigation Act, 1912-1931), survey fees, improvements, interest or otherwise in respect of lands within any irrigation area set apart and dis posed of under the Crown Lands Acts;
(b)	for the ])vi(‘c or rate or charge for Avatcr sup plied under or in accordant' with tho Irriga tion Act, 1912-1931, by the Water Conservation and Irrigation Commission to any occupier whether in pursuance of water rights which are attached to tho land or otherwise, hut not including any rate or charge made and levied under section fourteen of that Act;
(c)	for the sinking of bores or wells in pursuance of section 8i! of the Irrigation Act, 1912-1931;
(d)	for ]inrchase money, survey fees, improve ments, interest or otherwise in la'spect of sales in pursuance of sections 11 u and 11c of the Irrigation Act, 1912-1931, whether secured by moi'tgnge oi' otherwise;

(e)

664 Rural Bank (Agency) Act.

No. 56, 1934.

(e)	in respect of advances made under section nineteen of the Irrigation Act, 1912-1931, or for payments due or to become due conse quent upon any suspension, consolidation or other action pursuant to that section; or in respect of assistance granted or advances made by tho Water Conservation and Irriga tion Commission in virtue of section seven of the Returned Soldiers Settlement Act, 191G;
(f)	for costs, expenses and interest under sec tion 19b or section 19c of the Irrigation Act,

1912-1931;

(g)	for rent or otherwise in respect of any letting in pursuance of section seventeen or reletting in pursuance of section eighteen of the Hay Irrigation Act, 1902;
(h)	in respect of any agreement made in pursu ance of section twenty of the Hay Irrigation Act, 1902, for the supply and delivery of water;

(i) in pursuance of section twenty-seven of the Hay Irrigation Act, 1902, for rates for water supplied or for land irrigated;

, (j) in pursuance of section twenty-two of the Wentworth Irrigation Act for rental or other wise in respect of any demise, assignment, letting or lease;

(k) in respect of any agreement made in pursu- ance of section twenty-three of the Wentworth Irrigation Act for the supply and delivery of water;

(l)	in pursuance of section thirty-one of tho Wentworth Irrigation Act for rates for water supplied or for land irrigated;

(m)	in pursuance of Part VI of the Water Act, 1912-1930,

shall on such commencement become and be moneys

owing to the bank.

FoTvers of	70ss. (1) The bank may, through the Irrigation
respect of

the bank in

Agency at its discretion make loans to persons hold

the agency.

ing under any tenure any land in any irrigation area

upon

Rural Bank f Agency) Act.

665

upon such security and at such rates of interest and

‘

subject to such covenants, conditions and provisions

as it may impose.

(2)	The provisions of section sixty-nine of

this Act sliall apply mutatis mutandis to loans made under this section, and also to so much of any ad vances made before the commencement of this Division in pursuance of section nineteen of the Irrigation Act, 1912-1931, as are, by tho operation of this Act, moneys owing to the bank.

Divisiox 9.—Partners Relief Agency.

70t t . This Division shall commence on a day Comnenco-

to be appointed by the Governor and notiliod by pro- Division,

clamation published in the Gazette.

70uu. There shall be an agency in tho Govern- Farmers

ment Agency Department called the “ Farmers Agorey.	’
Eelief Agency ” to exercise and perform the powers, authorities, duties and functions conferred or im posed upon the bank by this Division and by the Farmers’ Eelief Act, 1932-1934, as amended by the Eural Bank (Agency) Act, 1934.

70w. Upon the commencement of this Division-— Baniitobe

(a) the bank through its Farmers Eelief Agency

and discharges for the same; but such agency shall not y)rejudice or affect tho right, duty and obligation of the Board to take in its name and at its discretion any necessary action for the recovery or for the protection of such moneys or of the securities for the same and shall not confer on the bank the right, duty or obligation to take any such action;

shall become and be the agent of the Board eert.ain

for the purpose of receiving all moneys due p"'’P'>scs.

or owing to the Board on any account what

soever, and shall, to the exclusion of the

(b)	all furniture, fittings and office equipment of the Board of whatsoever kind shall vest in the bank without any furtlier assurance for all the estate, right, title and interest of the Board therein.

70ww.

666 Rural Bank (Agency) Act.

No. 56, 1934.

7i0\vw. The bank sliall, through its Farmers Relief

Functions of

bank in re	Agency—■
spect of the

agency.

(a) in the name of tho Board—

(i) make advances to farmers in respect of whom a stay order has been granted under the Farmers’ Eelief Act, 1932-1934, of such moneys upon such securities and subject to such covenants, conditions and provisions as the Board may in its abso lute discretion direct;

(ii) make any payments or advances, or make available any moneys, pursuant to an authority given by the Board under section thirteen or section fourteen of the Farmers’ Relief Act, 1932-1934;

(iii) make any payments pursuant to a direc tion of the Board under subparagraph two of paragraph thirteen of the Schedule to the Farmers’ Relief Act, 1932-1934:

Provided, however, that the total amount to be advanced under this paragraph shall not exceed the total sum available to the bank for the purpose of the said agency, together with such further amounts as the bank may in its

’

discretion make available from the subsidiary account of the agencies in Group 2 referred to in section 70m of this Act;

(b)

become and be the agent of the Board for the purpose of receiving all moneys due or owing to the Board in respect of any advance made under paragraph (a) of this section and any security for the same and have, to the exclu sion of the Board, the sole authority to give receipts and discharges for the same; but such agency shall not prejudice the right, duty and obligation of the Board to take such action as it may deem necessary in its owm name for the IDurpose of recovering such moneys or in re spect of tho said moneys or securities for any purpose whatsoever, and shall not confer on the bank the right, duty or obligation to take any such action;

(c)

Rural Bank (Agency) Act.

607

(c)	provide and furnish all necessary staff, ofiicc space, stationery, plant and equipment re quired and do and perform all necessary actions and services for carrying into effect all the directions and decisions of the Board.

7 0 x x . q^ie word “ Board” in this Division shall

have the same meaning as is given to it in the	‘ ’
Farmers’ Belief Act, 1932-1934.

4 . (1) The Principal Act is further amended by luitiicr

;niieiiU:iiont of

omitting Part VL\.	1966, I’art
Act Nc. 48,
VIA.

(2) On the commencement of this Act

(Govci nmcnt

̂	HousirgDc-

(a)

the reserve fund established in pursuance of partment.) subsection one of this section) and the amount at credit of tho Minister in pursuance of section 70c of tho Principal Act (repealed as aforesaid) shall be transferred to the separate account for tho Government Housing Agency provided for by section 70i of the Principal Act (inserted by section three of this A ct);

(b)	any moneys, other than such reserve fund, standing to the credit of the Government Hous ing Department shall be allocated and credited to the Government Agency Department Capital x\cconnt and Government Agency Department Bevenue Account respectively in tho Rural Bank Department.

(3)	Xotwithstanding the provisions of section 70c

of the Principal Act (repealed by subsection ono of this section), tlie Government Housing Department shall not be deemed to have been bound or liable to credit to the account of the Minister mentioned in that section, any interest accruing due after the thirtieth day of June, one thousand nine hundred and thirty-four, nor to pay any such interest.

5 . (1) This section shall commence on the day ap- Oommence-

pointed by the Governor, and notified by proclamation published in the Gazette as the day upon which Division 7 of Part VIb of the Principal Act shall commence.

(1̂ )

668 Rural Bank (Agency) Act.

No, 56, 1934.

(2) (a) The Government Guarantee Board (in this

Dissolution

of Govern	section referred to as the board) constituted under the
ment	Advances to Settlers (Government Guarantee) Act, 1929
Guarantee
Board.	1934, is hereby dissolved.
(b) The persons who immediately before the commencement of this section held office as members or deputy members of the board, shall, as from such com mencement, cease to hold such office.
(c) A reference in any Act, rule, regulation, ordinance, by-law, order, proclamation, notification or in strument to the hoard shall be read as a reference to the bank.
(d) All real and personal property and all rights and interest therein, and all management and control of any land or thing which, immediatelj'’ before the commencement of this section, is vested in or belongs to the board, shall, upon such commencement, vest in or belong to the bank.
No attornment by a lessee of any land vested in the bank by this paragraph shall be necessary.
Amendment of

Act No. 46,

(3) The Advances to Settlers (Government Guarantee)

1929. Act, 1929-1934, is amended—

Secs. 4-8 inclu-	(a) l)y omitting sections four to eight, both inclu
trive.

(Government

sive;

Guarantee

Board.)

Sec. 28.	(b) by omitting from subsection one of section
(Inspection of

land and prop*	twenty-eight the words “ employed in the public
erty of settler.)	service” ;

Sec. 29.

(Obstruction

“ employed in the public service” and by insert

an offence.)

ing in lieu thereof the words “ nominated under

section twenty-eight of this Act” ;

Sec. 34.

(Report to	(d) by omitting section thirty-four.
Parliament.)

Further amend	6 . The Principal Act is further amended by inserting
ment of Act

No. 48, 1906.	in Division 4 next before section sixty-nine the following
New sec. 68b.	new section:—

Power to	68b. (1) This section shall commence on the day mation published in the Gazette as the day upon which Division 7 of Part VIb of this Act shall com mence.
make advan
ces to certain	appointed by the Governor and notified by procla
settlers.

(2)

Rural Bank (Agency) Act.

669

(2) The bank may, througli its Eural Bank Department, ivith the consent of the Treasurer—

(a)	make an advance to a settler who has, either before or after the commencement of Division 7 of Part VIb of this Act, acquired, by trans fer, or otherwise, the land held or occupied by a settler to whom—•

(i) before such commencement, a guaran tee had been given by the Government Guarantee Board; or

(ii) after such commencement an advance has been made under this section,

but such an advance shall not be made unless tlie indebtedness of the last-mentioned settler is discharged either out of tho advance or otherwise;

(b)	make an advance to a settler, in respect of whom a guarantee had been given before the

-	commencement of the Advances to Settlers (Government Guarantee) Amendment Act, 1934, of an additional amount not exceeding one-fourth of the total amount so guaranteed before such commencement.

(3) In this section the expression “ settler ” has the same meaning as is assigned to that expres sion by the Advances to Settlers (Government Guarantee) Act, 1929-1934.

7 . (1) This section shall commence on the day ap- Commenc*-

pointed by tho Governor and notified by proclamation published in the Gazette as the day upon which Division 8 of Part VIb of the Principal Act shall commence.

(2)	The Water Conservation and Irrigation Com

mission shall from time to time punctually and properly furnish to the bank all information required and neces sary to enable the bank to administer and perform the functions of its Irrigation Agency, and the bank shall also from time to time punctually and properly furnish to the Water Conservation and Irrigation Commission all information required and necessary for the perfor mance by the Commission of its functions.

(3)

670 Rural Bank (Agency) Act.

No. 56, 1934.

Amendment of	(3) The Wentworth Irrigation Act is amended—
Act 64 V lc t,
No. 7.	(a) by inserting in section four next before the
Sec. 4.

(Defini	definition of “ Domestic use ” the following new “ Bank” means the Eural Bank of New South
tions.)	definition:—

Wales.

Sec. 22.	(b) l)y inserting at the end of section twenty-two All moneys payable in respect of any such demise, assignment, letting or lease, whether made before or after tlie commencement of Division 8 of Part VIb of the Government Savings Bank Act, 1900, shall be paid to the bank.
(Power to

lease.)

the following paragraph:—

(Contract to

(c) by inserting at the end of section twenty-three Any payment under this section shall, whether tho agreement was entered into before or after the commencement of Division 8 of Part VIb of the Government Savings Bank Act, 1906, be made to the bank.

supply water.)	the following paragraph;—
Sec. 25.

(Water rights	(d) by omitting from section twenty-five the words
not transfer

able.)

“ paid to the trust” ;

Sec. 31,

(e) by omitting from section thirty-one all words

(Power to	after the words ‘ ‘ kind thereof ” and by inserting
fix rates.)	in lieu thereof the following paragraph:— All rates and moneys due for water supplied
or otherwise shall be paid to the bank.
Amendment of

Act No. 57,	(4) The Hay Irrigation Act, 1902, is amended—
1902.

See. 5.

(a) by inserting in section five next before the

(Defini	definition of “ Domestic use ” the following new “ Bank” means the Eural Bank of New South
tions.)	definition :—

Wales.

Sec. 17.

(b) by inserting at the end of section seventeen the following new subsection:—

(Power to	■
let.)

(5) All moneys ])ayahle in respect of any let

ting under this section or any reletting under

section

Rural Bank (Agency) Act.

671

section eighteen of this Act, whether made be- *'	.	‘
fore or after the commencement of Division 8 of Part VIb of the Government Savings Bank Act, 190C, sliall be paid to the bank.

twenty the words “ the trust ” where (Contract to	6U pply water
secondly occurring;	fo : term of

(ii) by inserting at the end of the same section the following new subsection;—

(4)	Any payment under this section

shall, whether the agreement was made be fore or after the commencement of Division 8 of Part VIb of the Government Savings Bank Act, 1906, be made to the bank.

(d) (i) by omitting from subsection four of section twenty-seven the words “ to the trust” ;

(Powerto

(ii) by omitting subsection five of the same fi-’'rates.) section and by inserting in lieu tbereof the following subsection:—

(b) All fates, rents, and moneys due under this Act for water sup])lied or other wise, whether payalde at the commencement of Division 8 of Part VIb of the Govern ment Savings Bank Act, 1906, or becoming payable thereafter, shall be paid to the bank.

(5) The Irrigation Act, 1912-1931, is amended— Amend.nciitof	Act No. 73,
19;i2.

(a)

by inserting in section three next before the See. 3. definition of “ The Commission” the following (pefiui-

new definition:—

tions.)

“ Bank” means the Eural Bank of New South

Wales.

(b)

by omitting subsection three of section 8b Sec. 8b.

and bv inserting in lieu tbereof the following (6‘“kingof

" .

^ bores or

subsection:—-

wdia.)

(3)	The form of agreement to be prescribed

in i^ursuance of subsection two of this section

’	shall provide that any sum payable by an owner or occupier in respect of the sinking of a bore or ^ell shall bo paid to the bank.

Any

672 Rural Bank (Agency) Act.

»e.56, 1934.

Any sucli sum and any sum which was, im mediately before the commencement of Division 8 of Part VIb of the Government Savings Bank Act, 1906, owing to the Commission in respect of the sinking of a bore or well and any sum which becomes due after such commencement under any agreement entered into with the Commission before such commencement shall be payable to tlie bank and sliall until paid be and remain a charge in its favour on the land on which the bore or well has been or is being sunk and shall be recoverable by the bank in any court of competent jurisdiction from the owner or occupier of the land for the time being;

6ec. 9.	’	(e) by inserting at the commencement of paragraph
(Power of

Commission	(g) of section nine the words “ for the purposes
to acquire
goods, etc., and	of this section
to make adrances.)

Substituted

(d) by omitting section 9a and by inserting in lieu

B. 9a.	thereof the following section:—
ised

Unauthor

9a. (1) No person shall remove or cause to be

removal,	removed any structure, building, fixture, fence or
damage
to or	other improvement on any lease within an irri
destruction	gation area in respect of which any moneys are
of buildings	owing—■
or other im

provements.

(a) to the Commission—without the consent in writing of the Commission;

(b)

to the bank—without the consent in writ (2) No person shall wilfully damage or

destroy or wilfully cause to be damaged or de stroyed, any structure, building, fixture, fence, or other improvement on any lease within an irriga tion area in respect of which any moneys are owing to the Commission or the hank.

(3) Any person committing a breach of

this section shall be liable on conviction to a pen

alty not exceeding one hundred pounds, and in

'	addition to payment of the value of any such ])roperty removed or of compensation for such
̂	damage or destruction, and such value or com pensation may he ordered on such conviction to

Rural Bank (Agency) Act.

673

'	be paid by such person, but if no such order be	^
made this section shall not abate or waive any civil remedy for recovery of such value or com pensation or damages in respect of such removal, damaging, or destruction.

'^e) (i) by omitting from subparagraph (ii) of para- sec. iic.

graph (a) of subsection three of section 11c (Conversion

the word “ Commission,” and by inserting

in lieu thereof the word “ bank” ;

(ii) by inserting in paragraph (d) of the same subsection after the word “ paid” where firstly occurring the words “ to the bank” ;

{iii) by omitting from the same paragraph wherever occurring the word “ Commis sion” and by inserting in lieu thereof the word “ bank” ;

(iv) by omitting paragraph (g) of the same subsection;

^f) by omitting subsection one of section fifteen and Soc. 15.

by inserting in lieu thereof the following sub- (I’aymentof	charges.)
section;—
(1) Every rate or charge for water made and levied under section fourteen of this Act shall be paid to the Commission by the occupier of the land as and when prescribed.
Every other rate or charge made and levied under this Act and all other moneys duo or pay able for water in pursuance of this Act, whether the liability to pay the same has accrued upon or accrues after the commencement of Division 8 of Part VIb of the Government Savings Bank Act, 1906, shall bo paid to the bank by the occu pier of the land as and when directed by the bank.

is )

omitting section sixteen;

seo. is.

(Power to

ta'te possession

if rates and

charges in

̂	arrears.)

■(h) by omitting from section seventeen the words s,.e. 17.

“ The expense of” and by inserting in lieu there- (Expense— of the words “ The expenses of the Commission defrayed.) in” ;

(i):

674 Rural Bank (Agency) Act.

No. 56, 1934.

(i) by omitting section eighteen and by insei’ting in

Substituted

s. 18.	lieu thereof the following section;—■
Collection of	18. (1) The bank shall, subject to this Act, col lect all moneys which immediately before the commencement of Division 8 of Part VIb of the Government Savings Bank Act, 1906, were due or owing to the Crowm or Commission, or which after such commencement become due or owing by an occupier for purchase money, rental, improvements, interest or otherwise in respect of lands within any irrigation area set apart and disposed of under the Crown Lands Acts.
rents, etc.
(2) The Commission shall, subject to this Act, collect all other moneys due or owing by an occupier in respect of his holding to the Crown '
or Commission and may recover such moneys in

’

any court of competent jurisdiction.

Where the whole or part of any money which is paid after the commencement of Division 8 of Part VIb of the Government Savings Bank Act, 1906, to the Commission as a deposit or otherwise in relation to any lease or purchase or application for a lease or purchase is avail able as a payment on account of purchase money, rental, or Crown improvements in relation to lands set apart and disposed of under the Crown Lands Acts, or lands within the irrigation areas constituted by the Wentworth Irrigation Act, or the Hay Irrigation Act, 1902, such money or the part thereof so available, as the case may be,

.	shall forthwith be paid to the bank by the Commission.

All moneys received by the Commission shall, subject to this subsection, be paid into the Treasury and carried to the Consolidated Revenue Fund, and credited as the revenue of the Commission: Provided that any part of such moneys may be paid into any special deposit account established under the Special Deposits (Industrial Undertakings) Act, 1912.”

................

(j)

Rural Bank (Agency) Act.

675

No. 5S, 1934.

(j) by omitting section nineteen;

St'C. 19.

(Advances

occnjdcrs, sus pension of pay ments of rent, etc., ami re-

paynuMit by	,
instalments.)

(k) by omitting section 19a;

Sec. 19a.

(Poivcr

nin it rent,

etc./

(1) by omitting from section 19b all words after tbe See. lOn.

word “ farm” where secondly occurring, and by (Perfonn-

•

1 •

. . . 1

anec of coil-

inserting in lieu tliereot the words:—

tracts on de-

“ Tlie amount of such costs and expenses and fault by the

interest thereon shall be payable by the occu pier to the bank, and shall bo a charge on such farm.”

(m)	by omitting from section 19c all words after the See. i9c. word “ noxiou.s” and by inserting in lieu thereof (P'dryou	°	land tor
the words--	treatment of

“ The amount of such costs and expenses and trees, etc.)

interest thereon shall be xtayablo by the occu pier to the hank, and shall he a charge on such land.”

Sec. IOg.

(n) by omitting section 19o.

{Kxtinf'insh- menr. of debt.)

(6) The Crown Lands Consolidation Act, 1913, is

’

of Act No. 7,

amended

1913.

(a)

by inserting in section five next after the defini- Sec. 5.

tion of “ Reside and residence,” the following

tioni.)

new definition:—

“ Rural Bank” means the Rural Bank of New

South Wales.

(b) (i) by omitting from subsection five of section one hundred and forty-two the w’ord “ Com	Sec. 142.	'
farm pur
(Irrigation

mission” where lastly occurring and by

chases.)

inserting in lieu thereof the words “ Rural

Bank” ;

(ii) by omitting from subsection seven of the same section the word “ Commission” wherever occurring and by inserting in lieu thereof the words “ Rural Bank” ;

(c) (i) by omitting from subsection four of section	Sec. 142i>.
(Conditions

142d the word “ Commission” where lastly	of leases
occurring and by inserting in lieu thereof	within irri
gation

the words “ Rural Bank” ;

(ii)

areas.)

676 Rural Bank (Agency) Act.

No. 56, 1934.

(ii) by inserting in subparagraph (ii) of the proviso to subsection five of the same section after the word “ Commission” the words “ or the Eural Bank” ;

Sec. 145a,

(Eestrictions

(d) (i) by inserting in paragraph (a) of subsection'

on transfer

tliree of section 145a before the word “ Com

of holdings.)

mission” wherever occurring the words

“ Eural Bank or the ” ;

(ii) by omitting subparagraph (i) of paragraph (b) of the same subsection and by inserting: in lieu thereof the following subpara graph :—

(i) the proposed transferee shall have signed an agreement tliat all amounts- (if any) remaining owing to the Com mission or the Rural Bank in respect of the holding or owing to the Com mission for any goods supplied by the Commission to the holder or his predecessors in title sliall be paid by him and that he will execute such security for the payment of all moneys owing as aforesaid to the- Commission as the Commission may require or to the Rural Bank as the Rural Bank may require.

(iii) by omitting from subsection four of the same section all words after the word “ Commission ” where lastly occurring and

'	by inserting in lieu thereof the words ‘ ‘ or to the Eural Bank are in arrear ’ ’;

Bee. 145b.	(e) (i) by inserting in paragraph (b) of subsection
(Suspension,

etc., of con

one of section 145b after the word “ condi

ditions.)

tion ” the words “ not being a condition

relating to the payment of money ” ;

(ii) by inserting in paragraph (c) of the same .subsection after the word “ condition ” the words “ not being a condition relating to the payment of money ’ ’;

Sec. 146a.	(f) by inserting at the end of subsection four of sec
(Subdivi

sions of pur-

tion 146a the words “ All payments in respect

ehssM.)

of such total cost shall be made to the Eural

B ank” ;

(g)

Rural Bank (Agency) Act.

677

is) (i) by inserting in subsection one of section one

hundred and forty-seven after the word êc. 147.

“ holding ” where firstly and secondly oc

curring the words “ other than conditions formanĉ of

relating to the payment of money condition*.)

5M934.

(ii) by inserting in subsection two of the same section after the word “ exercised” the words “ or for payments in respect of any loan made under Division 8 of Part VIb of the Government Savings Bank Act, 1906” ;

(iii) by omitting from the same subsection the words “ the holding may be declared to be forfeited by the Commission without refer ence to the special land board ” and by inserting in lieu thereof the words “ if the default in payment of such sums continues

[

for six montlis after such date or after the

expiration of such period it shall be lawful

for the Eural Bank by notification in the

Gazette to declare the holding, together with

any moneys paid in respect thereof and all

imi)rovements on the land, to be forfeited,	,
and the same shall be forfeited accordingly:	•

Provided that the Eural Bank shall give not

less than thirty days’ notice of its intention

to declare the forfeiture, by registered post

addressed to the person regitcered in the

books of the Commission as the holder

(whether as owner, mortgagee or otherwise) of tlie holding in relation to which such sums are payable, at the address last known to the Eural Bank” ;

(iv)

by omitting from subsection three of the same section the Avord “ Commission ” and by inserting in lieu thereof the words “ Eural Bank ” ;

(v)

by inserting at the end of the same subsec tion the words “ by the Eural Bank under subsection two of this section ” ;

(vi)

by omitting subsection four of the same section;

■

. .

(li)

678 Rural Bank (Agency) Act.

No. 56, 1934.

(li) by inserting at the end of section two hundred

Sec. 208.	and eight the words “ and where any such hold
(Waiver of
forfeiture.)	ing has become liable to be forfeited—

(a)	by the Commission—tlie forfeiture may, be waived by the Commission;
(b)	b}" the Rural Bank—the forfeiture may be waived by the Rural Bank ’ ’;

Sec. 209.	(i) by inserting at the end of section two hundred
(Reversal of

forfeiture.)

and nine the words “ and where the forfeiture

of any such holding was declared—

(a)	by the Commission—the forfeiture may be reversed by the Commission;

(1)) by the Rural Bank—the forfeiture may be

reversed by the Rural Bank ’ ’;

Sec. 21G.

(j) by omitting from subsection three of section two

(Paymcuts	hundred and sixteen the words “ to the Commis
ill respect
of shallow	sion” and by inserting in lieu thereof the words
bores.)	“ to the Rural Bank” ;

Soc. 278.	(k) by inserting in section two hundred and seventy- “ except in the case of interest upon a sum pay able in respect of land within an irrigation area.”
(Interest on

payment in	eight after the words “ he may ” the words
arrtMrs—
n 'ln ission .)

Amendment cf	(7) The Water Act, 1912-1 !)30, as amended by
Act No. i i ,

1912. subsequent Acts, is amended—■

Sec. 130.

(a) by inserting in section one hundred and thirty

(l)efini-	next before the definition of “ Board ” the “ Bank ” means the Rural Bank of New South
tion.s.)	following new definition;—

Wales.

Soc. 136.	(b) by omitting from subsection six of section one where secondly, thirdly' and fourthly occurring and by inserting in lieu thereof the word “ bank ” ;
within trust

(Lands	hundred and thirty-six the word “ Commission ”
districts.)

Substituted

and by inserting in lieu thereof the following

section:—■

s. 143.

■

Liability

143. (1) All amounts due and payable or to in respect of rates or charges for Avater or charges for additional water or for water sup

for rates

become due and paymble under this Part, whether

and charcres

for water.

plied, shall be payable to the bank,

(2)

Rural Bank (Agency) Act.

679

No. 56, 1934.

(2)	Ratos or charges for rvater under

tills Part including charges for additional water

shall he—

(a) a charge upon the land; and

(b) payable by the owner thereof^

8 .	(1) This section shall commence upon the ex r̂ii’s-	Comnionce-
mcnt of

tion of a iieriod of twelve months after the day apirointed	Bcctioii.
bj" the Governor and notified by iiroclamation published in the Gazette as the day on which Division 8 of Part VIb of the Principal Act shall commence.

(2)	The Irrigation Act, 1912-1931, is further	Further
amcmlment

amended—

of Act No. 73, 1912.

(a) by omitting sections 19d, 19b and 19f .

Secs. 19d, 19b ,

19f .

(Reclassifica

tion of

liohlirg and

revi.sion of

indebtedness;

nppeal; reduc

tion of debt.)

(b) (i) by omitting from section 19i the words and sce. nti. figures ‘‘Sections 19d, 19e , 19f and” and by

(Applica

tion and

inserting in lieu thereof the word “ Sec	interpreta
tion	tion.)

(ii) by omitting from tbe same section the words ‘‘ In tbe said sections ” and by inserting m lion thereof tbe words ” In such section.”

(3)	The repeal enacted by subsection two of this Savings,

section shall not annul or in any way affect any act, matter or thing done or performed before tbe commence ment of this section by the Commission or the Land and Valuation Court under the enactments so repealed.

(4) powers, authorities, duties and functions conferred or

Upon the commencement of this section tbe Powers, etc.,

delcrminc.

imposed upon the Commission or the Land and Valuation Court shall, subject to paragraph (b) of this subsection, cease and determine, and tbe following provisions shall have effect:—

(a)	any determination of the Commission in pur suance of section 19n shall, whether or not an appeal to the Land and Valuation Court has Ijeen made, be final and conclusive, except where a decision of that Court on the appeal is given before such commencement;

(b)

680 Rural Bank (Agency) Act.

No. 56, 1934.

(b)	where any determination of the Commission

which, by the operation of paragraph (a) of this snlisection i.s tinal and conclusive, or any deci sion of the Land and Valuation Court has not been given effe<‘t to by the Commission, the Commission shall forthwith do or perform any act, matter or thing necessary to give effect to

,	the determination or decision as the case may be, which could have been done or performed if subsection two of this section had not been enacted.

Commence	9 .	(1) This section shall commence on the day ap
ment of

section.	pointed by the Governor and notified by proclamation published in the Gazette as the day on which Division 9
of Part VIb of the Principal Act shall commence.

Amendment	(2)	The	Farmers’	Eelief Act, 1932-1934, is
of Act No.

33, 1932.

amended—■

Substituted

(a) by omitting section four and by inserting in lieu

8. 4.	thereof the following section:—•
Director	4. (1) The Commissioners appointed in pur suance of the Rural Bank of New South Wales Act, 1932, shall elect one of their number to be the Director .for the purposes of this Act.
aud
deputies.
(2) The Director shall hold office for sueh period as the Commissioners may appoint.
(3) Whenever a vacancy occurs in the office of Director by death, resignation or otherwise, the Commissioners shall elect one of their num ber to fill the office.
(4) In the case of the illness or absence of the Director the Commissioners may elect one of their number to act in his place during such illness or absence and while so acting the Com missioner so elected shall have the powers and duties of the Director.
(5) The Director may appoint any officer of the Rural Bank of New South Wales to act as his deputy.
A deputy shall have and may exorcise such of the powers, authorities, duties and functions of

the

Rural Bank (Agency) Act.

681

the Director as the Director may from time to	_1_	‘
time, in writing, delegate to him, either generall)^ or in any particular case.
The powers, authorities, duties and functions so delegated shall continue to be exercisable by
the deputy until the delegation is withdrawn in
writing by the Director notwithstanding tliat
there may be a vacancy in the office of the Direc-	■
tor, or that some Commissioner, other than the Commissioner who made the delegation, becomes the Director or is elected to act in the place of the Director during his illness or absence.
No person shall be concerned to inquire whether any act done by a deputy is within the scope of his authority.
(()) The Commissioner who, immediately before the commencement of Division !) of Part
V Ib of the Government Savings Bank Act, 190G,
held office as Director for tlie purposes of this

■

Act, shall continue to hold such office until an appointment is made under subsection one of this section, and shall be eligible for such appointment.

(b)

by omitting section six and by inserting in lie i Substituted thereof the following section;—-

6. If any officer or employee of the Public Ser- Fees and

,	vice, or any officer of the Rural Bank of Neiv South Wales be appointed a supervisor under nndem- this Act, the fees, emoluments and expenses to which he is entitled under subsections three and tnrn\hoTs.. four of section thirteen of this Act shall be paid

, into the Consolidated Revenue Fund in the case of an officer or employee of the Public Service or to the Rural Bank of New South AVales in the case of an officer of that bank;

(c)	seven the words “ out of such moneys as may be (Remuncra- appropriated by Parliament for the purpose ” and by inserting in lieu thereof the words “ by ”hcboMa°)

by omitting from subsection four of section gee. 7. be deemed to be part of the costs of administra tion of the Farmers Relief Agency of that bank

(d)

682 Rural Bank (Agency) Act.

No. 56, 1934.

(d) by inserting in subsection (5a) of section tliir-

Sec. 33.

(Supervi

teen after tbe words “ The Board may ” the

sors.)

words “ authorise the Rural Bank of New South

Wales to

Sec. 14.	(e) (i) by inserting in subsection one of section
(Supervisor

to manage	fourteen after the words ‘ ‘ The Board may ’ ’
and adminis	where firstly occurring the words
ter farmer’s
affairs.)	“ authorise the Rural Bank of New South Wales to

(ii) by inserting in the same subsection after the words “ paragraph (a) and shall ” the words “ authorise the Rural Bank of New South Wales to ” ;

(iii) by inserting in subsection three of the same section after the words “ The Board may “ the words “ authorise the Rural Bank of New South Wales to

Sec. 2S.	'	(f) by inserting in paragraph (d) of subsection two
(Disbin’iC-

metUs for	of section twenty-eight after the word “ Board ”
soaKon in which
stay order is	where secondly occurring the words “ or by the
jjrant'd.)	Rural Bank of New South Wales in the name of the Board

Sec. 29.	(g) by inserting in paragraph (d) of subsection one where secondly occurring the words “ or by the Rural Bank of Now South Wales in the name of the Board
(Disburse-

ir.cnts—subw-	of section twenty-nine after the word “ Board ’’
quent seasons.)

See. 31.

(h) (i) by omitting from paragraph (a) of subsec

(Advances	tion one of section thirty-one the words
and gunrau-
tecs by	“ out of the moneys to be provided by Par
Board.)	liament (or out of any moneys whatsoever to the credit of the Relief to Necessitous Farmers and Graziers Working Capital Account in Special Deposits Account) ad vance to the farmer such moiu'ys as it may think fit—“ and by inserting in lieu thereof the words “ direct the Rural Bank of New South Wales to advance to the farmer, through its Farmers Relief Agency, such moneys upon such securities and suliject to

such

Rural Bank (Agency) Act.

683

such covenants, conditions and provisions as the Board may in the direction specify—” ;

(ii) by omitting subsection two of the same section and by inserting in lieu thereof the following subsection:—

(2)	The moneys so advanced shall be paid

to the supervisor or credited to his account with the bank and shall be disbursed by the supervisor under the direction of the Board. The bank shall not be concerned to inquire whether any such direction has been given,.

(i) (i) by inserting in subparagraph one of para Schedule.

■	graph thirteen of the Schedule after the word ” Director ” where firstly occurring the words “ or any officer of the Eural Bank of New South Wales
(ii)	by inserting in subparagraph two of the same paragraph after the words “ paid by the ” the words “ Eural Bank of New South Wales at the direction of the
(iii)	by omitting jiaragraphs fifteen, sixteen and twenty of the Schedule.

PAET III.

;

A m e n d m e n t s

o f v a r io u s A c t s

r e l a t in g

t h e

u ra l

B a n k .

1 0 . (1) Tlie Eural Bank of New Soutli Wales Act. Amcmimentoi

1932, is amended—

1932)°’

(a) (i) by omitting from subsection two of section Scc. 4. four the words “ General Manager ” and by (Appoint-

mentof

inserting in lieu thereof the words	Commis
dent of the bank	sioners.)

(ii)

by omitting from subsection four of the same section the words “ except for an. annual leave of twenty-one days ” and by inserting in lieu thereof the words “ other-

Aviso than upon leave due to him in accord

ance with this Act

(ui)

6 k	BuraP Bank (Agency) Act.
No. 56, 1934.

(iii) by omitting subsection five of the same section and by inserting in lieu thereof the following new subsections—

(fi) Each commissioner shall, subject to this Act, hold office during ability and good behaviour until he attains the age of sixty- five years.

(5a ) No person of or above the age of sixty-five years shall be appointed a Commissioner.

Sec. 6.	(b) (i) by omitting from section six the words
(Appoint-

laeist of

‘ ‘ General Manager ’ ’ where firstly occurring

deputies.)

and by inserting in lieu thereof the words

“ the President

(ii) by omitting from the same se'ction the words “ General Manager ” where secondly occur ring and by inserting in lieu thereof the word “ President

Sec. 8.

Salaries of

8. (1) The commissioners shall be paid out of the funds of the bank such salaries as are fixed by the Governor from time to time: Provided that such salaries shall not be less than two thousand jiounds per annum for the President and one thousand seven hundred and fifty pounds per annum for each, of the other com

commis

sioners, etc.

missioners.

(2) Any salary so fixed shall not be, in respect of the commissioner to whom it was granted, subject to any o f the provisions of the Public Service Salaries Act, 1931-1934, or any Act amending, consolidating or replacing the

same.

’

•

(3) A commissioner shall have the same rights of leave of absence and payment of a cash allowance in lieu thereof as are granted to officers of the bank under any award of the Industrial Commission or any industrial agree ment having the force of an aw^ard.

■

<4)

Rural Bank (Agency) Act.

685

(4) In the case of a commissioner who at the date of his appointment as such was an officer -of the bank, his period of service as such aii -officer shall be taken into account in determining his rights under subsection three of this section.	_L-	‘
In the case of a commissioner who at the date ■of his appointment as such was an officer of the Public Service or was entitled to rights of leave •or other rights under the Public Service Act, 1902, the period of his service as such an officer or the period which at the said date represented his length of service for the purpose of his rights under the said Act, as the case may be, shall be taken into account in determining his rights under subsection three of this section.

(5) A commissioner who at the commence- cf. ActNo. '

ment of the Pural Bank (Agency) Act, 1934, is a	'
contributor to the State Superannuation Fund, or a contributor to the said fund who after the 'Commencement of that Act is appointed a com missioner, may cease to contribute to such fund, in which event he shall be entitled to a refund of his contributions thereto, or he may continue to contribute to the said fund.

;(d) by omitting from subsection two of section nine Scc. 9.

the words “ General Manager ” wherever occur- (Quorum.)

ring and by inserting in lieu thereof the word

“ President ” ;

(e)

by omitting section twelve thereof and by insert- Substituted ing in lieu thereof the following section:—

12. (1) Any profits paid after the commence ment of the Bural Bank (Agency) Act, 1934, by

Profits,

losses aud

liabilities of

the Commonwealth Savings Bank of Australia	Rural Bank under the
to the Eural Bank of New South Wales under	agreement
clause eleven of the Agreement, a copy of which	with the Coiimioii-
is sot out in the First Schedule to the Common	wealth Sav
wealth and State Banks Agreements Ratification	ings Bank.
Act, 1931, shall be credited to the Rural Bank Department of the bank, and all losses which the bank is under that clause liable to pay to tbe

Commonwealth

686 Rural Bank (Agency) Act.

No. 36, 19^4.

Commonwealth Savings Bank of Australia shall be paid in the first instance out of the funds of the said Department.

(2) The amount from time to time credited

to the Rural Bank Department in pursuance of

subsection one of this section, together with all

1 profits received by the Savings Bank Department from the Commonwealth Savings Bank of Aus tralia before the commencement of the Rural Bank (Agency) Act, 1934, and transferred to the Rural Bank Department in accordance with sec

-	tion 2 1 a of the Government Savings Bank Act, 1906, shall remain at credit of a Special Reserve

i Account, and to such account, subject to the general liability of the bank in this regard, shall be charged the amounts which the bank is liable to pay to the Commonwealth Savings

Bank of Australia under clause eleven of the

said Agreement.

(3) The amount at credit of the said Special Reserve Account in the Rural Bank Department may be used by the bank for the purpose of making advances by way of loans

'	through the Rural Bank Department or the Ad vances for Homes Department or in such other

manner as the bank may determine; but any earnings from such use shall not be added to the said Special Reserve Account but shall be added to the earnings of the Rural Bank Department and the Advances for Homes Department in such proportions as the bank may decide.

(2) Each commissioner appointed under the Rural Bank of New South Wales Act, 1932, and holding office immediately before the commencement of this Act, shall, Avithout further or other appointment than this Act, but otherwise subject to the Rural Bank of New South Wales Act, 1932, as amended by this Act, hold office during ability and good behaviour until he attains the age of sixty-five years.

(3) The commissioner ap])ointed under the Rural Bank of New South Wales Act, 1932, to bo General Manager, and holding office as such immediately before the commencement of this Act, shall, as from such com

mencement, be the President of the bank.

(4)

Rural Bank (Agency) Act.

C87

(4) The provisions of section eight of the Eural Bank of New South Wales Act, 1932, as inserted by paragraph (c) of subsection one of this section, shall as from the commencement of this Act apply to and in respect of the commissioners holding office immediately before such commencement.

1 1 . The Principal Act is further amended—

omendniciit of

Furtiier

Act No. 48,

1906.

(a) by inserting in section five next after the definition of “ Fixed foan,” the following new	Sec. 5.
(Defiui-

definition:—

tious.)

“ Irrigation area ” means irrigation area constituted under the Murrumbidgee Irri gation Act, 1910, the Irrigation Act, 1912 3931, the AVentworth Irrigation Act, or the Hay Irrigation Act, 1902.

(h) by omitting sections seven, eight, nine, ten and

See?. 7, 8. 9,10

and IS.

thirteen;

(Revis^on^

(c) by omitting sections fourteen and fifteen;	Sees. 14 and
15.
(Revision).
(d) by inserting next after section twenty-one the following short heading and new sections:—	New ?5.
2lA,2lB.

Assets and liabilities of Savings Bank

Department.

21a. On the commencement of the Eural Bank bihties of Rar- (Agency) Act, 3934, the whole of the assets held, ingsBankd,. immeaiately l;)ofore such commencement, by the

the assets of the Eural Bank Department, and

the whole of the liabilities to which, immediately

before such commencement, the Savings Bank

Savings Bank Heiiartment shall become and be ment. the liabilities of the Eural Bank Department.

2 1 b . On the commencement of the Eural Bank ]{eserve

(Agency) Act, 1934, the Eeserve Fund estab-	J
lished in resjiect of the advances made by the Advances to Settlers Board shall be transferred to and become part of the Eeserve Fund

'	mentioned in section 48g of this Act.

6 8 8 Rural Bank (Agency) Act.

Further	12 . (1) The Principal Act is further amended—
amendment of
Act No. 48,

1906.

Substituted

(a)

by Omitting section twenty-three and by insert ing in lieu thereof the following new section:—

Departments

23. (1) The business of the bank shall he-

of the bank.

carried on in three distinct and separate depart

ments, namely:—

(a) the Rural Bank Department;

(b) the Advances for Homes Department;

(c)	the Government Agency Department. (2) Transactions and accounts relating to>

each department shall be kept separate from

those relating to the other departments. .

(3) Except as in this Act or in the Rural Bank of New South Wales Act, 1932, specially provided, no money belonging to any depart ment shall be used for the purpose of any other department, and no liability incurred in respect of any department shall affect any other depart ment or the funds thereof;

Provided that money to the credit of any de partment at any branch or agency may be used for the purposes of any other department subject to monthly adjustments between the respective departments:

Provided further that the same ofBcers may be employed in carrying on the operations of any of the departments of the bank and the total costs of administration shall be apportioned by the bank between the respective departments as it may determine.

Sees.	230,	(b)	by omitting sections	2 Z x , 2 3 b , 2 3 c , and 2 3 d .	i
23c, 2SD.	*

(Special provi- sioiib as to Old Business: Divi sion a,nd Now Business

Division of

certain

departments

cf bank.)

(2) Nothing contained in the Principal Act shall be deemed to have rendered it necessary for the Rural Bank Department to be administered in two divisions after the commencement of the Commonwealth and State

Banks Agreements Ratification Act, 1931.

(3)

Rural Bank (Agency) Act.

689

No. 56, 1934.

(3) Any advance made from the funds of tlie Rural Bank Department or the Advances for Homes De partment after the commencement of the Commonwealth and State Banks Agreements Ratification Act, 1931, and before the commencement of this Act which could law fully have been made if this Act had been in operation at the time such advance was made is hereby validated.

1 3 .

The Principal Act is further amended—

Further

amendment of

Act No. 48,

1906.

(a)

by omitting sections twenty-five and twenty-six, sees. 25and 20.

and the short heading thereto;

FuJido®

(b) by inserting at the end of section twenty-seven Sec. 2 7 .

the following words: “ and may restrict the (Branches classes of operations to be effected at any branchagencies.) or agency

(c) by omitting section twenty-eight;	Sec. 28.
(Branches and
agencies at post offices.)
(d) by omitting from subsection one of section thirty the word “ three ” and by inserting in	Sec. SO, (Preparation of
accounts and balance-

lieu thereof the word “ six

sheets.)

(e)	by inserting next after section thirty-four the	Xew s. 34a.
following section:—
34a. (1) 'Wliere any agency is constituted by or under Part VIb of this Act, the officers and	Officers and employees
on loan to
employees who, immediately before the consti	bank.
tution of the agency, were engaged or employed in the Public Service or in the service of the
■	I	Water Conservation and Irrigation Commission in or in connection with the exercise and perfor mance of the powers, authorities, duties and
!	functions in respect of which the agency is con stituted, shall, if their services are required, be made available on loan to the bank by the Public Service Board or the Water Conservation aud Irrigation Commission.
The bank may at any time within one year return any officer or employee so on loan to it to the Public Service or the Water Conservation and Irrigation Commission as the case mav be.

■(2)

690 Rural Bank (Agency) Act.

No. 56, 1934.

(2) The salaries, allowances and emolu period for which he is on loan to the bank shall be paid by the bank and shall bo not less than the actual and otfective salaries, allowances and emoluments payable to or receivable by such officer or employee from time to time after allow ing for any deductions or reductions provided by the Public Service Salaries Act, 1931-1934, or any Act amending, consolidating or replacing the same.

Salaries and

working	ments of each such officer or employee during the
hours.
Such officers and employees (notwithstanding the fact that they are officers or employees of the Public Service or of the Water Conservation and Irrigation Commission as the case may be) shall be subject to the direction and authority of the commissioners and shall observe the usual working hours of the bank, anything to the con trary in any Executive Council minute. Act, award of the Industrial Commission, or any agreement having the force of an award not withstanding.

Officers and	(3) The bank shall, not later than one
may bo taken

employees	year after the date on which the services of any
into bank’s	such officer or employee are made available to
permanent	the bank, state whether it desires to take into
service.	its permanent service such officer or employee.
If the officer or employeee concerned agrees he shall be appointed to the iDermanent service of the bank at a salary not less than the actual and effective salary to which he was entitled at the time of being taken into the bank’s perman ent service.
Any officer or employee so appointed shall retain any rights accrued or accruing under the Public Service Act, 1902, the Irrigation Act,

•	1912-1931, or the Superannuation Act, 1916, or any Act amending the same and the regulations thereunder, and for that purpose service in the bank shall count as service in the Public Service or in the service of the Water Conservation and Irrigation Commission.

Rural Bank (Agency) Act.

C91

If after such appointment any enactment is passed by Parliament which would have had the effect of restoring to the officer or employee so appointed any portion of the deductions or re ductions from his salary made by the Public Service Salaries Act, 1931-1934, or any Act amending, consolidating or replacing the same;, had he remained an officer or employee of the Public Service or the AVater Conservation and Irrigation Commission, then the salary of such person in the permanent emiDloy of the bank shall be increased accordingly; but the bank may, in any case where it has previously volun tarily increased such i)crson’s salary beyond that to which he or she would have been entitled as an officer or employee of the Public Service or AAmter Conservation and Irrigation Commis sion, deduct the amount of any such previous increases.

(4) Any officer or employee who is not Kigiitsof taken into the permanent service of the bank emp̂oycM*̂ shall be returned to the Public Service or to th(3 not taken

tion Commission, as the case may be, and tin; service,

fact that such officer or employee was on loan to

the bank shall not operate to abrogate or affect

or in any way im])air any rights accrued or

accruing to such oflicer or employee under the

Public Service Act, 1902, the Superannuation

Act, 1916, or the Irrigation Act, 1912, and any

service of the AA'ater Conservation and Irriga- permanent* thereunder.

(5) The amount necessary to provide for Provision

the accrued or accruing liability of the bank for of five years calculated from the date Avhen such officer or employee is made available on loan to the bank.

deferred and extended leave in respect of any for leave,

officer or employee taken into the bank’s per

manent service in pursuance of subsection three

of this section shall be charged against the

■

(6)

692 Rural Bank (Agency) Act.

No. 66, 1934.

(6)	Where any officer or employee is

Superannua

tion con

taken into the permanent service of the bank

tributions.	.	in respect of whom the employer’s contributions under the Superannuation Act, 1916, as amended by subsequent Acts, have not been fully paid up to the date when such officer or employee was made available on loan to the bank, the Super annuation Board shall calculate the amount required to pay such employer’s contributions
'	in respect of the said officer or employee from the date of his being made available on loan as aforesaid to the date of being taken into the bank’s permanent service, and the bank shall forthwith pay to the Superannuation Board the amount so required.

Sec. 35A.

(f) by inserting next after subsection one of sec Bank (Agency) Act, 1934, the Officers’ Relief Fund shall consist of the amount apportioned to the commissioners pursuant to clause 22 (e) of the agreement, a copy of which is set out in the First Schedule to the Commonwealth and State Banks Agreements Ratification Act, 1931, to gether with such further sums as may be set apart from time to time by the commissioners with the approval of the Governor.

Eelief

(Officers’

tion 35a the following new subsection;—■

Fund.)

(1a) After the commencement of the Rural

Sec. 36a.

(g) (i) by omitting from subsection three of section

(Borrowing	36a the words “ with the consent of the
powers.)	Colonial Treasurer” ;

(ii) by omitting from subsection eleven of the same section the word “ number” ;

(iii) by omitting from subsection twelve of the same section the word “ number” where secondly occurring;

(iv) by inserting at the end of the same section the following new subsection:—

(17) FotAvithstanding the provisions of the Stamp Duties Act, 1920-1933, stamp duty shall not be and shall be deemed never to haA’e been payable in respect of—

(a)

any contract note for or relating to

the sale or purchase; or

(b)

Rural Bank (Agency) Act.

693

No. 56, 1934.

(b) any transfer

■	of inscribed stock or debentures issued in pursuance of this section.

(h) by omitting Part V;

Part V.

(Savings Bank

Dcpa rtinent.)

(i) (i) by omitting from paragraph (i) of section Sec. 48a.

48a the words “ or in the Savings Bank Be- (Powerto

carry on

partment” ;

Kurai

(ii) by inserting next after the same paragraph the following new paragraph;—

(j)

invest the funds of the Rural Bank Department in—

(i)

debentures or inscribed stock is sued out of the Advances for Homes Department;

(ii)

Government securities of the

Commonwealth of Australia ; or

(iii)

debentures or mortgages lawfully issued by the Municipal Council of Sydney, or the l\Ietro))olitan Water, Sewerage, and Diaiiiage Board or the council of any muni cipality or shire constituted under the Local Government Act, 1919.

(j)	by omitting section 48c;	see. 4sc.
(Branches of Rural Bank Department.)

(k)	bj" omitting section 48d and by inserting in lieu Substituted

thereof the following new section:—^

48d. (1) Where the amount standing to the Funds of

credit of a customer, whether by way of fixed e S m ^ r

deposit, deposit stock or current account at the	exceed-
date of the death of such customer does not exceed in all the sum of one hundred pounds exclusive of interest at the date of the death of such customer, and probate of the will of sucli customer, or letters of administration of his es tate is not or are not produced to the bank with in such time as it thinks reasonable, the banb

may

694 Rural Bank (Agency) Act.

No. 56, 1934.

may pay or distribute the said amount, and any interest due thereon, to or among any of the following persons—

(a)	any person who has paid the funeral ex penses of the customer;

(b) the widow or widower of the customer;

(d)	the person appearing to the bank to be entitled to take out probate of the will or letters of administration of the estate of the customer;

(e) the Public Trustee;

(f) any creditor of the customer;

(g)	any person undertaking to maintain the children (whether ex-nuptial or otherwise) of the customer;
(b)	any child of the customer (whether ex nuptial or otherwise).

Ecccipt.

(2) The receipt of any person mentioned in this section shall be a sufficient discharge to the bank in respect of any sum paid to such person and such receipt may be signed by any person who is above the age of fourteen years, and shall be binding on any widow, widower or next of kin, or person appointed as legal repre-

j	sentative of the estate of the deceased customer.

Indemnity	(3) If the bank under this section pays money to any person who is afterwards proved not to have been legally entitled thereto, the bank shall not be liable at tlie suit of any iierson who Avas so entitled.
to bank.
But this subsection shall not affect the remedy of the last mentioned person against the person who received the money.
Delivery of	(4) The provisions of this section shall apply to the delivery of any bonds, debentures or other securities held by the bank on behalf of a deceased customer, the face value of which when added to the balance to the credit of the deceased customer, does not exceed one hundred pounds.
Eccuritics.

(I)

Rural Bank (Agency) Act.

695

(l) by inserting at the end of section 48e the follow ing paragraph;—	No. 56, 1934.
Sec. 4Se.

“ Any liability arising from such guarantee shall be payable out of the Consolidated Eevenue Fund, which is hereby appropriated accord ingly.”	guaranteed.)
(Payment

(m)	by inserting at the end of Division 1 of Part VI	New s. 48o.
the following new section:—-
48g. (1) After making such deductions as the commissioners think fit from the earnings of	Eeuervo Fund of
Eural Bank
the Rural Bank Department in respect of the	Department.
estimated losses in connection with the opera tions of the said department the net profits earned during any year shall be set apart towards a Reserve Fund for meeting an}' further loss or deficiency in connection with the said department.
(2) Any deficiency in the said Reserve Fund at the end of any financial year of the bank shall be made good from the Consolidated Revenue Fund upon such deficiency being cer tified to by the commissioners and the Consoli dated Revenue Fund is hereby appropriated accordingly.

(n) by inserting next after Division 1 of Part VI the

Now

. following new Division:—•

Division lA.

D iv is io n

1 a .— Safe deposit vaults.

48ii. The bank may provide safe deposit vaults Safo

and rent safe deposit boxes therein in terms of ‘̂'̂ J’osits.

this Act and the regulations tliereunder.

48i. The obligations of the bank in respect of obligations

safe deposit boxes shall not extend beyond the of bank,

exercise of due and reasonable care to prevent

the opening of any such box by any person other

than the renter thereof or by some person

authorised by him or by law.

48.1. In any action against the bank in respect Lir-iitation of any loss arising from the alleged unauthorised °f lability , opening of any safe deposit box no larger sum

than one thousand pounds shall be recoverable and then only on jiroof of negligence on the part of the bank.

■

48k.

696 Rural Bank (Agency) Act.

No. 56, 1934.

48k . Evidence tending to prove that securities,

Negligence.

money, valuables, or other articles were left in

[	any safe deposit box upon the last entry by a renter and that the same or any part thereof were missing upon subsequent entry shall not be sufficient to raise a presumption that the same were lost through any negligence for which the bank is responsible or put upon it the

: burden of proof that such alleged loss was not its fault.

Bonk not	48n. The bank shall not be affected by notice
affected by

notice of	of any trust upon which the renter of a safe
trusts.	deposit box holds or is alleged to hold the same or the contents thereof.
Power to	48m . The bank may direct that no safe deposit inexpedient to admit as a renter and may at any time terminate the renting of a box to any per son.
refuse to	box shall be rented to any person whom it deems
rent.

Lien.

48n . The bank shall have a lien or charge upon ’ all property deposited in a safe deposit box for rent and expenses due to it from the renter thereof.

[

Eight to

48o. The bank may at any time suspend ac

suspend

cess to a safe deposit box by any person whom

soever Avithout being liable for any damages.

Minors.

48p . If any person being a minor signs a con- tract for the renting of a safe deposit box, the bank shall not incur any liability by reason of

[

i the fact that such renter is less than the age

of twenty-one years, and the bank shall have all remedies against such renter as if he were of

'	the full age of twenty-one years.

Authorities	48q. An authority on a form supplied by the bank empowering an attorney, deputy or agent to have access to and control of the contents of a safe deposit box shall be exempt from stamp
exempt from
stamp duty.

i duty.

Authority	48e. Any poAver of attorney or an authority
good till

notice of	accepted by the bank as sufficient to permit ac
revocation.	cess to a box by an attorney, deputy or agent

■

Rural Bank (Agency) Act.

C97

of the renter shall be valid and etfectual until	. !_	'
notice of the revocation thereof, or of the bank- ruptcj', lunacy, unsoundness of mind, or death of the principal has been received in writing by the bank.
48s. Any deed, document, or article of value Lost found within the safe deposit vaults shall forth-	■
'
with be handed to the bank or the officer in charge of the vaults, and as against all persons other than the rightful owner the property in such articles shall vest in the bank, and shall be held by the bank against the finder and all per sons other than the rightful owner.

48t . Nothing in this Act or in the Government Ordei»of

Savings Bank Amendment Act, 1913, shall Court,

preclude the Supreme Court of New South Wales

or the High Court of Australia from making an

order vesting in any person or directing the at

tachment or disposition of any property depos

ited in a safe deposit box or from commanding

the bank to open the box or to deliver its con

tents or any part thereof to any person.

Where any such order is duly served on the bank the bank shall take all steps and do all things in its power to give effect to the order, and is hereby relieved from any liability for so doing.

This section shall extend to an order made Royal

under the powers conferred by the Eoyal Com- commissions,

missions Acts, 1923-1934, in any case in which

the provisions of Division 2 of Part II of that

Act have effect.

48u. The commissioners may make regula- Regulations,

tions prescribing tlie terms and conditions upon which safe deposit boxes may be rented, regulat ing the access thereto and prescribing the method in which the safe deposit vaults shall he con trolled and managed.

Sections eighty-four and eighty-five of this Act shall apply to regulations made under this section.

48v.

698 Rural Bank (Agency) Act.

No. 56, 1934.

48v. In this Division—•

Definitions.	“ Safe deposit box ” means any compart ment, safe, box or other receptacle for safe custody of any personal property in the safe deposit vaults of the bank.
“ Renter ” means the renter of a safe de posit box, and shall include his duly authorised attorney, deputy or legal representative.

Sec. 49.	(o) by omitting subsection one of section forty-nine-
debentures

(Issue of	and by inserting in lieu tliereof tlie following
and in	snbsection:—
scribed

(1)	The commissioners may from time to time

stock.)

with the consent of the Treasurer issue out of the Rural Bank Department debentures or inscribed stock, but no such consent shall be required to the issue of such debentures or in scribed stock to the Advances for Homes Depart ment.

See. 52.	(p) by omitting from section fifty-two the words “ section thirteen of this Act ” and by inserting in lieu thereof the Avords “ section ten of the Rural Bank of New South Wales Act, 1932, as amended by subsequent Acts ’ ’;
(Signature.)
Sec. 64.	(q) by omitting from section fifty-four the words
(Issue and

redemption of

“ Savings Bank Department or

debentures or

inscribed

stock.)

Sec. 57.	(r) by omitting from section fifty-seven the word
(Defaced de

bentures may

“ number ” ;

be ex

changed.)

Sec. 5S.	(s) by omitting from section fifty-eight the Avord
(Lost

debentures.)

“ number ” where secondly occurring;

N e w s. 6 lA .

(t) bj* inserting next after section sixty-one the fol lowing section:—

Exemption	61a. NotAvith standing the provisions of the Stamp Duties Act, 1920-1933, stamp duty shall not be and shall be deemed iieA’er to have been payable in respect of—
from stamp
duty.

(a)	any contract note for or relating to the sale or purchase; or

(b)

Rural Bank (Agency) Act.

699

No. 56, 1934.

(b) any transfer

of inscribed stock or debentures issued in pur

suance of this Part of this Act.

(u) by omitting paragi-aph (f) of section sixty-eight and by inserting in lieu thereof the following	Sec. (is.
loan and
(.Amount of

paragraphs:—

nature of security.)

(f)	If any interest or instalment on any such loan is in arrear for more than twenty-one days the commissioners may charge the borrower interest on such interest or in stalment at a rate not exceeding one per centum higher than the rate of interest specified in the mortgage.
(g)	Where any interest or instalment on any such loan is in arrear the commissioners may, upon the application of the bor rower—

(i) fix an extended period for the re- pajTuent of the principal sum oAving in respect of the loan at the date of the application, and, in the case of an amortisation loan, alter the instalment accordingly;

(ii) capitalise the whole or portion of such interest or instalment by add ing the same to the principal sum OAving in respect of the loan at the date of the application, and fix an extended period for the repayment of the amount comprising such principal sum and the capitalised interest or instalment, and, in the case of an amortisation loan, alter the instalment accordingly.

(v) by omitting section 68a and by inserting in lieu thereof the following section:—	Substituted
s . ()8a .

G8a. (1) In eA-ery fixed or amortisation loan Avhether made before or after the commencement	vary rate
Power to
of interest.
of the Rural Bank (Agency) Act, 1934, the bank shall haA’e and be deemed to liaA'c had the fol- loAving poAvers:—

(a)

to reduce the rate of interest at its dis cretion at any time and from time to

time;

(b)'

700 Rural Bank (Agency) Aci.

No. 56, 1934.

(b)

where the rate of interest has before such commencement been or is after such com mencement reduced below that payable under the security, to at any time and from time to time increase such reduced rate of interest up to but not beyond the rate payable under the security, on giving one month’s notice in writing of any such increase to the borrower at his last known place of abode;

(c)

not more than once in any period of three years to increase the rate of interest beyond that stipulated for in the security on giving six months’ notice in writing as aforesaid.

(2)	In the case of an amortisation loan

when a variation is made in the rate of interest

the instalment may be altered accordingly.

Sec, 70.

(w) by inserting at the end of paragraph (a) of sec tion seventy the words “ Any consent under this section may be given subject to such conditions as the commissioners may impose.”

Further

14 . The Principal Act is further amended—

amendment

of Act No. 48,

1906.

Sec. 76c.

(a) by omitting from section 75c the Avords “ irriga

(Consent of	tion farm leases, Wentworth and Hay irriga
Minister not
required to	tion leases,” and by inserting in lieu thereof
registration
of certain	the words “ holdings within any irrigation
transfers.)
area” ;

New s. 75f.

(b) by inserting after section 75e the following new

section:—

Powers, etc., of	75r. (1) Where any land has become vested
commissionere

in respect of	in the commissioners by the oi)oration of sec
lands vested in
them under	tion sixty-nine of this Act tlie commissioners
s. 69.
may, while tlie land remains so vested in them make any application or exercise any right, poAver or privilege Avhich under the CroAvn Lands Acts might be made or exercised by a holder or OAvner subject to mortgage, of land of

'	the like tenure Avdiich is not liable to forfeiture.

■

(2)

Rural Bank (Agency) Act.

701

(2) Where, in consequence of any ap plication made or right, power or privilege ex ercised by the commissioners nnder subsection one of this section, the tenure of the land so vested in the commissioners is altered, the commissioners may exercise the powers con ferred upon them by section sixty-nine of this Act as if the land vested in them had been land of such altered tenure.

' l

“ savings” ;

(d)	by omitting section ninety-six and by inserting Substituted in lieu thereof the following section:—

96. Nothing in this Act or in the Grovernment Vesting

Savings Bank Amendment Act, 1913, shall pre-	^
elude the Supreme Court of New South Wales or the High Court of Australia from making aii order vesting in any person or directing the attachment or the disposition or payment of—

(a)	any inscribed stock of the bank or interest thereon;
(b)	any moneys to the credit of a customer, whether on fixed deposit or otherwise;
(c)	so much of any moneys received by the bank upon the exorcise by it of any of its powers, rights or remedies under any security and, at the date of the order ac tually in the disposition of the bank, as exceeds the moneys due to the bank under or in respect of the security.

Where any such order is duly served upon the bank the bank shall give effect thereto.

1 5 . The ITousiiig Act, 1912, as amended by subsequent Amendment

of Act No. 7».

Acts, is amended-

1912. _

(a)	tion forty-three the words “ or may enter into	by inserting at the end of subsection one of sec- Soo. 43. the contract for sale and receive the rents and default by
profits thoroof” ;

(b)

702 Rural Bank (Agency) Act.

_J_ ■	(b)	by inserting in subsection two of the same section after the words “ At any time after sucli cancellation” the words “ or when the Minister proposes to enter into possession of the land and dwelling described in the contract for sale and receive the rents and profits thereof” ;
(c)	by inserting at tlie end of the same section the following new subsections:—
(5) Where the Minister has, without cancel ling the contract, entered into possession of the land and dwelling described in any contract of
;	sale he shall remain in possession until such time as he shall signify to the person entitled to the benefit of such contract his intention to va cate possession or until the terms and conditions of the said contract of sale sliall have been fully completed and satisfied.
(6) The powers conferred upon the Minister by this section shall be exercisable by the Eural Bank of New South Wales in any case where the land the subject of the contract of sale was vested in that bank, or in the commissioners of the Government Savings Bank of New South Wales pursuant to the Housing (Amendment) Act, 1924, whether such vesting was made be fore or after the commencement of the Govern ment Savings Bank (Housing) Amendment Act, 1928, or before or after the commencement of the Rural Bank (Agency) Act, 1934.

Amendment	16 .	The Government Savings Bank Amendment Act,
of Act No. 13,

1913. 1913, is amended—

Sec. 13.	(a) by omitting from section thirteen the word, sym
of certain

(Application

bols and letter “ and (f)” and by inserting in

Principal Act.)

sections of

lieu thereof the word, symbols and letters “ (f)

and (g )” ;

Substituted

(b) by omitting section fifteen and by inserting in

s. 15.	lieu thereof the following sections:—
Reserve	In. (1) After making such deductions as the commissioners tliink fit from the earnings of the Advances for Homes Department in respect of the estimated losses in connection with the

■

transactions

Rural Bank (Agency) Act.

703

;	transactions of tlie said department the net pro- *' _-l_	’
fits earned during any year shall be set apart towards a Reserve Fund for meeting any further

: loss or deficiency in connection witli the said (2) Any deficiency in the said Reserve Fund at the end of any financial year of the hank shall be made good from the Consolidated Revenue Fund upon such deficiency being certi-

i	department.
;	fied to by tbe commissioners.

15a. The funds of the Advances for Homes invcsiment

Department may be invested in—

AdvancL°̂

(a) deposits in any trading bank in the State; for Homes

(b)

debentures or inscribed stock issued out of ricpartment. the Rural Bank Department;

(c)

government securities of the Common

wealth of Australia;

(d)

debentures or mortgages lawfully issued by the Municipal Council of Sydney or the Metropolitan "Water, Sewerage, and Drainage Board or the council of any municipality or shire constituted under the Local Government Act, 1919.

(c) (i) by inserting at the end of subsection one of See. 17n-.

section 17n the words “ or may enter into (Defaultby

possession of the land and dwelling do-

scribed in the contract of sale and receive

the rents and profits thereof” ;

(ii) by inserting in subsection two of tbe same

section after the words “ At anj' time after

such cancellation” the words “ or when the

commissioners propose to enter into ])0sses- sion of the land and dwelling described in the contract of sale and receive the rents and profits thereof” ;

(iii) by inserting at the end of the same section the following new subsection:—

(5) AVhere the commissioners have, Avitli- out cancelling the contract, entered into pos session of the land and dwelling described in any contract of sale, they shall remain in possession until such time as they shall

signify

704 Government Guarantees Act.

No. 56, 1934.

signify to the person entitled to the benefit of such contract, their intention to vacate possession, or until the terms and condi tions of the said contract of sale shall be fully completed and satisfied.

Sec. 17q.	(d) by inserting in section 17q after the word “ com
not to

(Purchaser

missioners” where secondly occurring the

assign.)

words “ or of some officer appointed by them in

that behalf” ;

Sec. 20.

(e) by omitting section twenty.

(Power of

investment.)

Construction,

1 7 . This Act and the Principal Act shall be read and construed subject to the Commonwealth of Australia Constitution Act, and so as not to exceed the legislative power of the State to the intent that where any provision of this Act or the Pi'incipal Act or the ai)plication thereof to any person or circumstance is held invalid, the re mainder of this A(‘t or the Principal Act, and the ajiplica- tion of such provision to other persons or circumstances shall not be affected.