Savings' Bank Act 1834 No 21a (NSW)

No. XVI.

All Act to repeal in part and to amend and extend the provisions of an Act intituled “ Au Act “ to establish a Savings' Bank in New South “ Wales and to provide for the management “ t]hereof and for the security o f Deposits therein A [28̂ A August, 1834.] Savings' Bank. __

1 1 r IIEIIEAS an Act of Ilis Excellency the Governor of Now Sontli rrcambio.

Wales with the advice of the Legislative Council thereof was

passed in tlie second year of the reign of llis Majesty King William

the Eonrth intituled “ An Act to establish, a Savings' Banle in New 2 Gui. iv. No. 13

VV

“ South TFalcs and to provide for the managemcat thereof and fo r the

“ security of Deposits therein'" And whereas it is expedient to repeal

the said recited Act and to substitute another Act in its stead Be it in part repealed and therefore enacted hy His Excellency the Governor of New Soiith |j]®reby cTtabUshed Wales with the advice of the said Legislative Council That the s a id continued under the recited Act be repealed except as to the institution and establishment

of the said Savings’ Bank and the same is hereby repealed accordingly and that the said Savings’ Bank shall he continued in New South 'Wales for the receipt management and security of such deposits and shall he regulated according to the provisions hereinafter to he established.

574	No. 10.	5̂ GIJL. IV.	1834.
Savings’ Bank.
Governor to he

President and	2. And be it further enacted That the Governor of New South Bank and that the management of the alFairs of the same shall he vested in eighteen Trustees to be nominated hy the said Governor of whom one shall he styled Ance-President and that all or any of such Trustees shall and may from time to time he removed from office and re-appointed or anotlicr or others appointed in his her or their place or stead in ease of any such reinoA’al or any A'acaney happening as the said GoAmrnor shall 1‘roin time to time tliink tit and every such nomi­ nation re-appointment or fresh nomination of any such Trustee or Trustees as aforesaid shall he signified hy the publication of an Order to that effect in the Ncio South Wales Government Gazette.
manapfement of	Wales for the time-being shall he the President of the said Savings’
eighteen Trustees.
atfairs vested in
Vice-President and
Trustees may frame	3. And he it further enacted That the said Vice-President and shall and may jiroceed to frame such rules and regulations for the conduct and management of the said Savings’ Bank as to them shall seem meet and may from time to time alter and modify the same as occasion shall require Provided always that no such rules or regula­ tions shall he deemed A'alid or he acted upon until the same shall have been submitted to the Governor for his approval and shall have been confirmed and alloAÂ ed hy him under his hand And provided also that nothing herein contained shall he deemed or tak(m to affect such rul(!s and regulations as have heretofore been approved hy the Governor under and hy Aurtue of the hereinbefore recited Act.
rules for tlu5	other Trustees Avhose nomination shall liaA'c been so publicly signified
management of the
bank.
One Trustee with

Accountant or two L. And he it further enacted That it shall and may he laAvful

Trustees in absence	for any one or more of such Trustees together Avith the Accountant or
of Accountant
may receive deposits.	in the event of his necessary absence for any two or more Trustees at such time and place as shall he fixed l)y such ruh's confirmed and alloAved as aforesaid and at no other time or place Avhatsocver to receive from any person or persons in the Avay of deposit any sum or sums of money not being of value less than one shilling nor more than thirty lAOunds and shall then and there cause the same to he entered in a hook to he provided for that purpose to the credit of the party making such deposit or of such other person as he or she may appoint and one or more of the Trustees hy AA’hom such deposits shall he received shall on the same or next laAiTul day pay the entire amount of the same; to the Colonial Treasurer Avho is hereby authorized and rcij^uired to receive and giv(! a discharge for such amount and to place the same to the credit of the Vice-President and Trustees of the Savings’ Bank of N cav South Wales in an account to he opened and kept hy him for that purpose.
General meeting of
Trustees for	5. And he it further enacted That on a day to he appointed in October in every year there shall he a general meeting of the said Trustees at Avhich the Vice-President and at least four of the other Trustees shall attend or in the necessary absence of the Vice-President at which five of the Trustees shall attend for the purpose of placing out at interest on security to he ajiproAnd hy them and under the conditions hereinafter described sueli sums of money as may have been deposited during the three months last preceding and at such meeting the Vice-President or presiding Trustee shall produce and exhibit the Treasurer’s accounts containing a statement of the snms received hy him during that period on account of the Savings’ Bank and of the balance rcmaiiring in his hands to the credit and in favor of the aforesaid Vice-President and Trustees and it shall he laAvful for the Vice-President or other Trustees attending such general meeting or the major part of them out of the balance in the hands of the said Treasurer to discount at a rate of interest not less than eight pounds per centum per annum hills of exchange or promissory notes of an
investing deposits	the third Aveek respectively of the months of January April July and
examining accounts
&c. &c.

amount

1834. 6 ̂ GUL. IV. No. IG. 575

Savings’ Bank.

amount not exceeding five Imndred pounds and bearing tlic names of

not less than tlireo persons to be ap])rovcd of at such meeting and

payable at a period not exceeding six calendar months from that time

or to bargain and agree to lend the same upon the security of any

real properties in the said Colony of New South Wales to an amount

not exceeding one thousand pounds sterling provided sucli lending

shall 1)0 on property having no previous incumbrance thereon and in

case the Trustees then jn-esent shall direct a valuation of the ])remises

to he taken the same shall he at the expense of the person applying

for such loan and an adjourned meeting if necessary may he held at

any time within fourteeir days then next follo)V'ing for determining'

the same and in case such meeting or adjourned meeting as afore­

said shall approve of making any such loan either on Bills of Jix-

ehange or Promissory Notes as albresaid or on the security of any

such pi'operties as aforesaid the same shall he made at ini crest not

less than eight pounds per centum per annum to he ]>aid half-yearly

Provided always that no sum or sums of money helonging to llie

depositors in the Savings’ flank so lent to any one person or at any

onetime in his possession shall exceed five hundred pounds in llie

whole exei'pt in tlie ease of a loan by way of mortgage provided as

albresaid and ])rovided also that for each and every sum so hnit on tin;

security of any real property as aforesaid a mortgage he given on the

said ])ro])crty and also a bond in double the amount if the ’frustccs

shall Ihink further security necessary togetluu' with a warrant of	•
attorney to confess a judgment thereon sliall he granted by the bor­ rower and that if the interest on any such loan shall he at any time more than three montlis in am;ar and shall not he paid on demand the said Trustees shall cause judgment forthwith to he entered up on the said warrant of attorney and exeeulion to he sued out thereon.

(5. And he it further enacted That the said Trustees or any live Tmstcos io prepare

of them shall within one calendar month from the close of every yearf sheet ami

1 1 1 j j 1 T j • • j i 1 ^ 1 lay the samu before

cause a haianco sheet to he prepared coiitaium^ a true statement oL the Governor.

their receipts and payments on account of the Savings’ Bank during

such past year and of the balance of money remaining in the hands	.
of the Treasurer ou their account as well as of all sums of money
which may in any manner he due to them as Ti'ustecs of sueli
Savings’ Bank and shall certify the correctness of the said account or
balance sheet hy subscribing the same with their names and shall
within three days after such suhscrijition lay the same hefore tlie

Governor for his ajiproval and shall cause the same after being hy him	.
approved to he ])uhlished in tlu; Government Gazette.

7.               And he it further enacted That it shall not he lawful for the now payments shall

Colonial Treasurer to make any payment in the name or on account of luieŝ prescrver"

tlie Vicc-l’rcsident and Trustees of the Savings’ Bank except in con­

formity with the terms of an order to that effect which shall he signed

hy two or more of the said Trustees and also that all securities for

money or other obligatory instruments and evidences or muniments

wliich may he taken and received for the repayment of any sum or

sums of money lent hy the Trustees from the deposits in tire Savings’

ilank shall he and are hcrcliy directed to he preserved in the Colonial

Treasury in an iron chest having two locks the key of one of which

,

sliall he kept hy the Accountant and the other hy the Colonial Treasurer and it shall not ho lawful for the said parties in whose; custody such keys are placed or cither of them to deliver out of such clu'st to any person whatsoever any security for money or any ol)ligatory instrument which may have been deposited therein unless th(' party applying for and claiming the same shall jiroducc an order for its delivery signed hy three or more of the Trustees Provided ahvavs that as often, as occasion shall arise for the production of any

* such

576	No. 16.	5° GUL. IV.	1834.
Savii/gs’ Jiank.

such security for inspection or otherwise it shall he lawful for the; Colonial Treasurer and he is hereby required to deliver the same into the hands of the Accountant for such purpose under the authority of an order signed hy any two or more Trustees stating tlie purpose for which the same shall he required to he delivered out the Accountant giving a receipt for the same and the said Accountant is hereby required to restore the same to the custody of the said Colonial Treasurer immediately after the purpose for which the same is delivered out shall have been satisfied.

Rate of interest on 8. And he it further enacted That every person depositing with

deposits.

the Trustees hy one or more payments any sum not less than twenty shillings or the person on whose account the said deposits may have been paid and to whose credit they are placed in the hooks of the hank shall he entitled to receive interest upon the same at the rate of five pounds hy the year for a hundred pounds and in the same proportion for any shorter time Provided that no interest shall he allowed on any sums less than one pound or on odd shillings or pence and that the interest shall he calculated hy months omitting odd days hut that any sums deposited Avithin the first scA'cn days of a month shall he entitled to hear interest for the Avhole of that month and the Trustees may and shall pay such interest as is here directed upon all deposits not less than tAventy shillings out of the interest received hy them on sums lent out as hcreinhefore directed and they may and shall out of the same also defray such reasonable charges as may he necessary for conducting the business and keeping the accounts of the hank as shall he first sanctioned by the Governor for the time-being and thereupon if at the close of any year a surplus over and above the sum of two hundred pounds shall remain after such interest and charges as aforesaid shall have been paid they may and shall direct the same to he divided and placed to the credit of the several persons having deposits in the hank in proportions corresponding Avith the amount of such deposits at the close of the preceding year and Avith the number of days in such year during Avliich they may have remained inscribed in the names of the several depositors.

Payment of interest

and disposal of such	9. And he it further enacted That the said interest at the rate
aalsTô t̂ appuirfon	pounds by the year on every one hundred pounds deposited in

the hank and the proportionate interest on any smaller sum subject to the rules ahoA^e-mentioned shall he payable on any days appointed for receiving deposits in the month of January in every year and if such interest shall not be applied for hy the person to Avhom it is due or hy any person duly authorized on his or her behalf on any of the days so fixed for the payment thereof the amount so left unclaimed shall l)e added to and incorporated Avith the sum already standing in the books of the bank to the credit of such party and shall hear interest subject to the rules aforesaid from the first day of the said month of January and interest at the rate above fixed shall he alloAved to him or her upon the gross total sum so long as the same shall he continued in charge of the Trustees Provided always that nothing in this Act con­ tained shall entitle any free person hy any successive deposits to place in charge of such Trustees any sum exceeding tAvo hundred pounds in the Avhole.

Conditions on which

deposits may he 10. And he it further enacted That it shall and may he laAvful

withdrawn. for any free person resident at Sydney being the owner of any sum or sums of money deposited in the Savings’ Bank or for any person duly authorized hy such depositor or for his or her executors or other laAvful representative to claim and reccAe hack sucdi sum or sums or any part thereof in the manner and iqAon the conditions folloAving that is to say if the sum or sums so required to he repaid shall not exceed five pounds the claimant thereof shall on some day appointed for tlie

meeting

1834. 5 ̂ aUL. IV. No. IG. 577

Savings’ Bank.

meeting of the Trustees deliver or cause to he delivered to them or to their Clerk or Accountant a notice signed with his or her name decdaring llis or her intention to witlidraw such sum from the hank at tlie expiration of seven days from the date of the said notice and if the sum to he withdrawn shall exceed five pounds hut be not more than twenty pounds then fourteen days notice shall in like manner he given and a notice of twenty days when the sum to ho withdrawn shall exceed twenty pounds.

1 1 . And he it further enacted That no person or persons being No Trustee &c. to

a Trustee or Treasurer of such hank or being any way concerned in orto'ikposTt?n uT

the management thereof shall he allowed to deposit any sum or sums bank.

of money therein or to borrow any money from or to become security

for any person borrowing money from the said hank or to derive any

benefit from any deposits made in such hank hut that the persons

depositing money therein shall have the sole benefit of such deposits

and the produce thereof Provided nevertludess that nothing herein

(;ontained shall render it unlawful for the Trustees with the sanction

of the Governor to defray any necessary charges of management and

to remunerate the person who shall he appointed Clerk or Accountant

of the said hank and also provided that no Trustee shall act in such

capacity of Clerk or Accountant or receive directly or indirectly any

salary allowance profit or benefit whatsoever from the funds of the

said hank.

1 2 .   And he it further enacted That all such rules and regulations E'l’cs &c. after

as may from time to time he made hy the Ih’ustees for the manage- GOT̂ rnm- to be f̂iied ment of the said hank after the same shall have been confirmed and i" Supreme Court 11 1 1 11 y— 1 1 * T i ? • 1* x i i n i ftncl to uo cvitlsncc i n

allowed by the Governor as hereinbclore is directed shall be lairly law. hy such Chief Clerk and preserved amongst the records and muniments of the said Supreme Court without any fee or reward in respect thereof and such rules and regulations being so deposited shall be binding upon the several members and officers of the said bank and upon all depositors therein and their representatives all of whom shall he taken and deemed to have full notice thereof and the transcript of the said rules and regulations deposited with the Clerk of the said Sujireine Court as aforesaid or a true copy thereof examined with the original and proved to he a true copy shall he received as evidence of such rules and regulations respectively as aforesaid and every copy of any such transcript deposited with the said Clerk of the said Supreme Court as aforesaid shall bo made without fee or reward except the actual expense of such copy.

transcribed on parchment and deposited with the Chief Clerk of the

1 3 . And he it further enacted That in case the Trustees of the infants may make

said Savings’ Bank of New South Wales shall receive any deposit of money from or for the use and benefit of any person under the age of twenty-one years it shall he lawful for the said Trustees to pay such person his or her share and interest in the funds of the said bank in the manner and upon the conditions hereinbefore appointed and the receipt of such person shall be a sufficient discharge notwithstanding his or her incapacity or inability in law to act for him or herself.

1 4 . And be it further enacted That in case any depositor in the as to deposits of

funds of the aforesaid Savings’ Bank shall die leaving any sum or persons deceased,

sums of money in the said funds or any dividends or interest due

thereon helonging to him or her at the time of his or her death

exceeding in the whole the sum of twenty pounds the same shall not

he paid to any person or persons claiming to he the representative or

representatives of such depositor unless such person or persons shall

deliver or cause to he delivered to the Trustees or their proper officer

a notice in writing to he signed hy his her or their names in the

4 D presence

578 No. IG. GUL. IV. 1834.

Saviti(js' Bank.

presence of two credible witnesses setting forth the grounds upon which he she or they claim to he entitled to receive the said sum or sums of money helonging to the said depositor at the time of his or her death nor unless the said notice shall have been published thrice or oftener in the Government Gazette and in one or more of the news­ papers of the Colony at the discretion of the Trustees and three calendar months at least shall have elapsed subsequently to such last publication hefore payment he made in satisfaction of any such claim or demand.

Not to interfere with

15. Providcd always and he it further enacted That the above regulation shall not he takeir to interfere with the legal title and claim of any representative or representiitives of such depositor deceased Avho shall produce probate of the will of the same or letters of adminis­ tration of his or her effects Provided also that if after due publica­ tion of notice as hcreinhefore directed or upon the production of such probate of will or letters of administration as aforesaid any payment shall he made from the funds of tla; said Savings’ Bank hy the Trustees thereof and the party or parties claiming and receiving the same shall afterwards he proved not to he the lawful representative or representa­ tives of the depositor so deceased as aforesaid such payment shall he valid against any demand of any other person or pei'sons as representative or representatives of the same deceased depositor hut nevertheless such lawful representativ e or representatives shall have remedy for such money so paid as aforesaid against the person or persons who shall have received the same.

of anVreprê ^̂ ^̂ ^̂

All monies &c. to be 1 6 . And he it further enacted That all monies goods chattels

dent*̂and TrusteeT*^'t^ffects whatsoever and all securities for money and obligatory

for the time-being, instruments and evidences or muniments and other effects whatever

and all rights and claims now heretofore or hereafter helonging to or had by the said Savings’ Bank of New South Wales shall be vested in the Vice-President and Trustees thereof for the time-being for the rtse and benefit of the respective depositors therein according to the provisions of this Act and after the death resignation or removal of any such Vice-President or of all or any of the Trustees shall vest in the succeeding Vice-President and Trustees for the same estate and interest as the former Vice-President and Trustees had therein and subject to the same trusts without any assignment or conveyance whatever Provided always that all securities for money and obli­ gatory instruments and evidences taken from or redeemed hy any borrower from the funds of the said hank may be taken and executed and payments in discharge thereof may he made to any one Trustee together with the Accountant for the time-being of the said hank for and on behalf of the Vice-President and Trustees of the said hank and all receipts and acquittances for the amount of money paid in redemption of or on account of sirch securities may he executed hy any one Trustee together with the said Accountant in the name of and for and on Indialf of the said Vice-President and Trustees of the said hank and sliall ho sealed with the common seal of the said hank and such instruments so executed shall he deemed and taken to ho as valid and elFectual at law and in equity as if the same had been executed hy the Vice-President and the other Trustees of the said hank and the said Vice-President and Trustees may institute or defi'ud any action suit or prosecution in anywise touching the effects so vested in them and may siu; and he sued with relation to any such action or suit in the Supreme Court in the name of the Ac(*ountant of tlu ̂ said Savings’ Bank for tlie time-being and no such suit action or prosecution shall he discontinued or abated hy the death of such Accountant or by his removal from his office Ai'hich he held at the time when such action suit or prosecution was

commenced

18-̂ 4. 5*̂ GUL. IV. No. 1(1 5T9

Savings’ JBank.

commenced but the same shall and may be proceeded with in the name of bis successor and such succeeding Accountant shall pay or rec'civc like costs as if such action or suit bad been commenced in bis name for the benclit of or to be reimbursed from the funds of the said Savings’ Bank.

17. And bo it further enacted That no Trustee shall be per- No Tnistce porson-

sonally liable except for bis own acts and deeds nor anything done by him in virtue of bis ofllce in the execution of this Act except in cases where be shall be guilty of wilful neglect or default.

18. And be it farther enacted That it shall and may be lawful Nunds of any other

for the said Trustees by the order of the Govt'rnor of the said Colony niay'lfĉ roeeivâ

to receive any sum or sums of money that may have been heretofore	ings’Bank of
received and deposited in any Savings’ Bank or Pricndly Society heretofore established in this Colony from the Treasurer or Trustees of such Savings’ Bank or Triendly Society and to place the same in the Savings’ Bank of New South Wales in tlie name or names of the
person or persons to whom the said sum or sums of money so to he
transferred shall respectively belong and to give credit in the accounts of the said Savings’ Bank to the several depositors for the several and
respective sums to Avhieh they may be entitled at the time of such trairsfcr and to pay interest for the same in the same manner as if the
said several sums had been rcspectir'cly deposited in the Savings’

Bank of N cav South Wales by the several indmduals to Avhom the	.
same shall respectively belong.

19. And be it farther enacted That it shall and may be laAvl'al As to deposits of

for the Trustees by the order of the Governor of the said Colony to receive from or on behalf of any prisoner of the CroAvn under any sen­ tence of transportation or banishment in the said Colony or its Depen­ dencies any sum or sums of money whatsoever although the amount thereof with or Avithout any accumulated interest thereon shall exceed the sam of tAvo hundred pounds and to pay over to every such prisoner the principal and interest in such sums and at such times as the said Governor by any Avriting under his hand shall direct.

20. And be it further enacted That it shall and may be laAvfal Rato or interest may

for tbc said Trustees or a major part of them at the general meeting to be held in the month of January in CÂ cry year by and Avith the con­ sent and approbation of the Governor of the said Colony to reduce the rate or rates of intt'rcst hereinbefore mentioned as avcU on any sum of montty Avhich may be so lent out at interest by tbc said Itank as afore­ said as also upon any sum standing in the books of the said bank as received by Avay of deposit as aforesaid or either of them Providt'd ahvays that three ealendar months notice of any such reduction he previously given by advertisement to be publisbcd in the Government

Gazette of the said Colony.

21. And Avhcrcas it is expedient as far as practicable to ('xtend Appointiimnt of

to country districts r(;mote from Sydney tbc beneticial operation

of tbis Act Be it therefore enacted by the authority aforesaid ’fhat it shall be laAATul for the GoA^ernor of N cav South Wales from time to time as occasion may recpiirc to appoint proper persons to act as Trustees for the districts of Parramatta Liverpool CampbelltoAAm Berrima Goulburn Ballmrst Penrith Windsor Bichmond IMaiiland Port Stephens Port ^tac(piaric and for such other districts as the said Governor shall seem meet for the receipt respectively of deposits in the said SaA’ings’ Bank in order that the same may be transmitted to and invested by the \lic(^-Presideni and Trustees of the Savings’ Bank of

N cav South Wales in Sydney for the benefit of country dej)Ositoi‘s in

like manner and sid)je(d to the same regulations as are hcrcinl)cfore provided touching and concerning other depositors Provided that the

ap])ointinen(

580	No. 16,	5'̂ GUL. IV.	1834.
Savings’ Bank.

appointment of the said district Trustees respectively sliall take effect

so soon as the same shall he notified in the Government Gazette.

Appointment of	22. And for the more effectual protection of depositors in such country districts and in order that they may as speedily as possible derive benefit from their deposits in the Savings’ Bank of New Soutli Wales in Sydney Be it enacted That a Clerk or Accountant shall he appointed hy the Vice-President and Trustees of the Savings’ Bank at Sydney for each district respectively wdio (upon giving reasonable security to the satisfaction of the said Vice-President and Trustees for the duly accounting for such monies of depositors as shall come to his hands) shall in the presence and not otherwise of one or more of the district Trustees so to he appointed as aforesaid received deposits from persons residing within his district at such times and places as the district Trustees shall appoint and give proper vouchers to the parties depositing the same signed hy the Trustee or Trustees present at the receipt thereof and it shall he the duty of such district Accountant and he is hereby required on the first post-day in every month or oftener if directed so to do by the Trustees in Sydney and in such manner as they shall appoint to remit all sums of money so deposited to the Accountant of the Savings’ Bank in Sydney together with an account verified hy one or more of the district Trustees respectively of the names residences and descriptions of the depositors and of the sums received hy him to their credit respectively in order that such depositors may he entitled to the benefit of this Act.
district Accountant.
Withdrawing
deposits in country	23. And he it further enacted That it shall and may he lawful for any free person being the owner of any sum or sums of money deposited Avith the district Accountant for transmission for his or her benefit to the N cav South Wales Savings’ Bank in Sydney or for any person duly authorized hy such depositor or for his or her executor or other laAvful representatAe to claim and receive hack such sum or sums of money or any part- thereof in the manner folloAving that is to say if the sum or sums so required to he re-paid shall not exceed five pounds the claimant thereof shall on some day to be appointed hy the district Trustee or Trustees respectively deliver or cause to he delivered to the district Clerk or Accountant a notice signed with his or her name declaring his or her intention to withdraAV such sum from the hank at the expiration of fourteen days from the date of the said notice and if the sum to be withdrawn shall exceed five pounds hut he not more than tAventy pounds then tAventy-one days notice shall in like manner he given and notice of thirty days when the sum to be Avithdrawm shall exceed twenty pounds and upon receipt of such notice the district Clerk or Accountant shall forthwith trans­ mit the same A’erified hy the district Trustee or Trustees respectively to the Accountant of the Savings’ Bank in Sydney in order that proper steps may he taken for remitting the money to the district Accountant for payment to the party or parties lawfully claiming the same and taking from them respectively proper vouchers for the receipt thereof Avhich A-ouchers are hereby required to he returned to the Accountant of the Savings’ Bank in Sydney.
districts.
Depositors in country	24. And he it further enacted That in case any district depositor leaving any sum or sums of money in the said funds or any dividends or interest due thereon belonging to him or her at the time of his or her death exceeding in the whole the sum of tAventy pounds the same shall he paid only on the conditions hereinbefore provided touching and concerning like cases.

sessedof'̂ mwK̂yin	funds of the SaA'ings’ Bank of N cav South Wales shall die
the bank.
District Trustees to	25. And hc it fui’ther enacted That no district Trustee being

have no interest in . -» • j i j o j i p i r. ci • #

thefuncUofthehank. lu. any way concerned in the management oi the lundsoi tJie bavings

Bank of N cav South Wales or the branches thereof shall be allowed

to

1834. 5'̂ GUL. IV. No. 17. 581

Quarter Sessions Act Amendment.

to deposit any sum or sums of money therein or to borrow any money from or become security for any person borrowing from tbc said l)ank or to derive any benefit from any deposit made therein Provided nevtu'tbeless that nothing iierein contained shall render it unlawful for the Trustees of the Savings’ Bank of Kew South Wales in Sydney with the sanction of tbc Governor to defray any necessary charges of management in tbc districts aforesaid and to remunerate the persons wlio shall bo appointed district Clerks or Accountants respectively of the said bank and also provided that no district Trustee shall act in such capacity of district Clerk or Accountant or receive directly or indirectly any salary allowance profit or benefit whatsoever from tbc funds of the said bank.

2G. And be it further enacted That the Accountant for the Acpountant may bo

timobein g of the said bank being tbc plaintiff or complainant petitioner “

or defendant in any action suit petition or other proceeding as afore­

said on behalf of tbc said bank shall not prevent bis being a witness

in any such action suit petition or other proceeding in like manner as

be might have been if bis name bad not been made use of as such

plaintiff complainant petitioner or defendant therein.

27. And b(i it furtlier enacted That tbis Act shall be in force Commencement of this Act.

and take effect from and after the passing and publication thereof.