Savings Bank Act 1847 (SA)

C2211 J September, 1847.1

HERE AS it is desirable, for the encour.~gnuent of frugality, Rumble.

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tlwy require for the sapply of tlieir immediate wants, should be	\V that prmorls posaearilig nndl sunis of money beyond what
~fforded nil opportuuity of depositing the same on good seeurit-yy to nccumulattc at intercst, and to form a provision for theuselves
and fad ies :

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1 3 ~ IT TIIEREFORE EXACTED, by THE GOYERXOR of South Austl:?lh,

wit11 the clvi vice rind colisct~ t of T ~ E T,RQISLATIYJC Comcu tlweof- ]Establishing aSaring~

TIIAT m I~wtitutioli, to 1)c ~ n l l e d the S:~vinga nhdi of South Aus- h,,,

t r sl lnll he cstaldi shed ill South Australin, for the receipt,

nin~mgp~rwlt, and security of such deposits, ancl shall be regulated

nccord~~ig to the provisious hereinafter to be cetiblished.

11. AYD RE IT ENACTED, That the Governor df South Austrniia ~ppointmfnt or

Prerident, Vim- llusi-

.for tllc titno lldng dmll Le President of t l~c said Iustitutiou, and T,.,,lma

that the mni~ngemcnt of the aEairs of the wmel shall be vested in twelve Trusbes, to be fippoinkd by the said Qvemor, of whom C

i'	one
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oilc slid1 be styled Vice-PresicGut; and that the said Governor s ld l and inay from time to timO from office, all or any of

t h e Trustees of tlie said Iustitutibn, m d re-appoint the same or any

of them, or sllall and n1aj7 appoiu't others, or another in their or his place or stead; and i11 case of adr wcnncy occuming in the mmber of such Trustees, or of any appqntmeut, removal, re-nppoiutment, or frcsll appoii~tmcnt, as aforesaid, of any .such Trustees, the same

s11d be published in the South ~ u s t r a l i u n Government Gazette by

order of the said Governor.	J g
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Any five Trustces	ITT.	A m BE IT ENACTED,	~ ~ i r l ~ a l l	acts, matters, aud things (snre
cmpowcrod to do a11

rnntmrq and tliings AS lweinnftm. esccpted), wllich tile said Trustees are by ally of the

L ' ' " : ' \ t h " r " s t e c ~ r o ~ ~ i s i o l l s of this Ordinance autimrized or required to do nud per-

nro required to do.

. form, sh11 nild may be doilc m:$ peifomed by any fire of such

Proriso. Trustees: PROVIDED ALWAYS. thit such five Trustees be for such

purpose nsse~ubled at n n~eeting, @hereof due notice slall have been

wiven to all tlic said Trustees.	::
a

~ ~ r u s t s a a may .zpnoint VI. ~ Z N D BB IT ENACTED. That 'it shall and may be inwful for tire

t io~i of rt notice to that effect in the South Australian Government

Gazette; and it sl~nll and ma.y be lawful for the said Vice-Presidmt and ot'ller Trustees to appoint, subject to the approval of the said ~ O T P ~ I I O I; S I I C ~ salary as they slinll deem fit to be paid to such A~coontant, regard being 11nd to the nature aild extent of the duties to be pcrformcd, and to the responsibility which may attach to him. *

VII. A m m IT ENACTED, That every person who may be ap- A c ~ * u n t a n ( ~ ~ grant

mnrit;y for the -

lmintcd as afo~.csaid to the office of i~ccountaiit of the snid Savillgs ftitthftsl dimhwgc of

Ibnk, sl~nll grant security for the due and fnitllful disclclrqe of the duties of his office, by a bond with two or illore sufficient sureties to be nppro~ed hv the snid Vice-?resident m d other Trustees, wl~icli sureties slrdl join aitlr the said Accountant io such bond, and tshcy nml lm shall i h l tllei~iselves jointly and severally to '' The %c-Preside11 t nad Trustcos of tlm snid Savings Bank of South

Allstnli:l" in such p a l sun1 as sllnll be uanled by the said TTUR-

tees, nud be approved by the said Goveruor.

VIIT. A m ne IT ENACTED, Tlmt it. shall iwd may be lawful for Tmtees mar appoint clerks and other

the snid Vice-President, slid any f o h of the silk1 other Trustees, osrcR

subject to t l~c npprovnl of tllc said Governor, to appoiut Clerks s a W l to a m r o d

:~nd such otllcr su1)ordinfite officers -of the said Savings Bauk as or the Governor.

they, in tllcir discretion, sl~all t l h k qccessary for the Gecntion of

the several duties and trusts hereby rbposed in t lmn; ancl t h y nlny

and shall, out of the interest received by thcur on moaeys lent out

as l~rminnftcr directed, pay such s a h y fins s ld l be appointed to

he paid to the snid Accountant of tlih said Savings Bank, and also such other salaries to the said C1erlts:nnd otllcr subordinate officers, as the wicl Vice-President, iiud any four of the said other Trustew, bv ; l i d with the nplxob2tion nntl conqent of the said Governor, s l d l f&m tinlc to time tl~ilik fit and nlloni; ntld the said Trice-President and otlier four Trustees shall also.~ont of the said int-crest, de- fr;iy all such incidental clmrges m d, expenses its sllall bc ueces- snrily incurred in conducting the bi~shess, and keeping the necounts

of the said Snviixgs Bank, which s1ln)l be allowed and approved by

tlm said Governor, 1

the msnagenlent of the said S3avings Bank, after the same sldl haro

been allowed and confirmed by tlie said Governor as hereinbefore is directed, shall be fairly transcribed ou parchment, and deposited with tlie Recjstrar- Gene i l of the ZYovince, which transcript sliall be filed by such Registrar-General, and preserved amongst the Records aud hlunimeuts of the said Registry Office, without any fee or r e ~ v a ~ d iu respect thereof; and such rules or regdntions so deposited shall be binding upon tlie several members and officers of the said Savings Bank, -and upon all depositors therein, nud their representatives, all of yhom shall be taken and deemed .

to hare full uotiee thereof; and :the tmnscript of tile said riiles

mid regulations deposited with thi. 'Registwr-General as nforesi~id,

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or n true copy thereof exnmincd with thc oliginnl m d proved t o be n trne copy, sl~all be received as evide~lce of such rules

A I I ~ t~ be re~civedw and regulations respectively ns aforesaid; and every copy of any

tlle samL snch trailscript deposited with the- said Registrar-Geueml as afore-

said shall be made without fee or 5-elvard, cscept t1ie actual expense	I
of such copy.	.'L..

Oua Trustee with	XI. AND BE IT EXACTED,	~ h n i	it shall and may be ln~di i l	for.
Accountnnt, or two

Wly Olle Or more of sllch Trustek, together wit11 the rhxountant,

' l ' ru~rc~~ in

scllccl rcccivo or, in the eveut of his nbsencc, for ally t ~ v o or 111or.e of such T~IIS,

deposits not lcse than

IS, M I U ~ C C J ~ &. ~ tees) at s~lch time niid place ns .slinil bo fixed by such rules and

f 2 0 0. rcguldons, coufimed a i d dIon+t?d 2s aforesaid, and at 110 other

tiine or place wvht~oveq to rcccicc: fioiu any persou or persoas in

t l ~ c way of deposit, any ,sum or s~ull~s df money, not beiug of

value less tllm One SllifliuS, 110~ :excmding Tliirty Pounds ill tllc

rvllolc, esclusivc of intcrcst, in onc ycnr from m y OHP 11~1..

son, nor by 0110 OF by ssnccssivo $olrosits cseecdiug, ccacept iu the cascs i~f'tcr~ncntioncd, tho sun1 of Two Ilnnclred Pounds ill the whole, to the credit of any oue Qcco~uilt, esccpting as hereinafter provided; and shall tlien aid there cause the luoney so received to be o~~tc red in a book (to be provided for t h t purpose) to the credit of tllc party mnlring such deposit, or to the credit of such

cleposits, and all other sun1 and sums of money rcceivd into	otlier person as lie or she Illay appoiut; and the nmouut of such
the said Savings D:wl<, ~ l d l with all convellicut specd be paid into sneh of tlle Co1oi:inl Banks :in AdelGdc as s ld l be nplroved of by the Vice-Presidelit, and auY-fofour of the snidwtlier .Trustees, a t my mccting for such purpose to. bc convened, and the same s idl be thcrc plxed to tlic credit of the said S ~ I Y ~ I ~ S Bank, in an no-

*	count t o bc iiltitulcd The ,4ccouut of the Vice-President and Trustces of tlic Snvings Bank of South Austrnlia,," which said nc- count sl~idl Le opened and kcpt:in such Brink fa thnt purpose;
and no inoney so paid into sucli; account iu such f3nuk s l ~ d be

ivitlldra~al of

mouuya	withdrawn tlrcwfrom, without tllc. writtcn order of t i ro or more Trustwa, cou~r t.*r~igncd by the Aeiountnnt for the tim bciug, first
had mid olttliilcd. ,.

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Trustees, it shall be lawful for thc Trustees then attenditig, not

I~ciug	less than four, to lend any suul or sums of money ~tpon	Jfort~'pP~cinre8uim*
ple.

sccnrity, by mortgage of ally lands bud liereditami.nts, for an estate

of il~l~critn~icc in fko simple in tho said Province of Soutlr Austrslia,

prodcc1 such h d s and hcrcclit:~~nents be free from all ~ I ~ C L I I ~ -

I~raliccs : L ~ N D 1'ltOVIDED ALSO, that 110 such 1oan shaU exceed the NO^ to excced £ M O

amount of Five Houdred Pounds t o any oile persou; and it shall to OnepeMa

and Jllny be 1iI~flIl for such Trilstccs as aforesnicl, to direct n vnlu-

:~tion to be mnde of the snid hcrcditu~nents, the expense of wliich r:du;ttion s l d l bc borw aud psicl i v the parson or persoiis applying

for s a e l ~ lo:iu: nr~d all such lands ;Id I~crrditnmei~ts so nlortd g o aa ed Lsnds to bc conveyed

ns nfores;~id, 611411 be co~~veycd to the Vicc-President for tile t i w E:~E$~~~~'~ ''

being of l l ~ c said Savings llxilli ill fqe s i~l~plr, sub,jcct to n proviso

fiw rcdutnptio~i of thr snsw, 011 p n y i ~ l ~ ~ ~ t of ill1 pritlcipnl inoney aud

iutcwst, aud tliwc slrirll be illscriud 'ilk swll irlortljngc 11 power of

s;llc io dcfhalt of pnyment of priliciljnl money nud iirtelpst, on tlre

days aud a t the tiines appointed for pyment of the sme; but soch	.
power of sale slrall not prejudice or affect the right of the said
Savings Biidi to foreclose the equity of redemption of the said

, licredit~ii~ents ; arid all bonds, mortgages, rrnmmts of attonley, a~ui '

otlicr securities, wv11ich slinll or inay :it nnv time hereafter be taken

join in such mortgage for the pu ose of releasing the same: PRO-

provim	~ D E D ALWAYS, that the whole a+ount h to be invested on rnortgfige	s l d l not exceed two-thirds of tlie entire funds of the Bank, and
that no new mortgnge shall be jtaliea by the Trustees so long as
two-tllirds or more than two-tliirda of the entire funds of the Bank
shall be vested on mortgage. B

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As affording fur-

ther meonsfor inveet-	XIII. AND, in order to afford further means of investing or ern- ploying the funds of the Saving$Bank, BE IT ENACTED, That my portion of these funds, not excekding one-third of the whole, may be deposited in any bank or h n k k iih the Province, at such rate of interest as iuay he agreed ou betd$eu the Directors of such bniik or
ing fnnda
banks, and the' Trc~stees of the Sqvings Bank. ' L Y
Governor may
punrantoe loan to be	XIV. AND WHEREAS, in coi~se&?lencc of the employnlent of the the Tr~~stces
raised by the	funds of the fhvings Bank as liefeinbefore nuthorized or directed,

tees Qoarnntea not of tlle said Bank day, without tb assist~nce of the

to exceed f b,ooo.

Governnlent, be uuable to weed the demands made uuon them from time to time, by depositois desirons of witlldra&ng tlieir deposits, and it is expedient that, $11 case of need, such ass~stance

she11 be afforded to them: BE IT EREFO FORE ENACTED, That it slid1

and may be la~vful for the Goveihor of the Province to g~wmntee

the repayment, from the revenues bf the Province, of any lonn which

it may be necessary for the ~ r u s k e s to negotiate, ill order to meet

Proviso,	the demands of such depositors :i PROVIDED, tlmt no loan or loans outstmding at any time, and so guaranteed, shall exceed tlie sum of Five Tl~ousand Pounds, without the previous advice aud consent
of the Legislative Council. f,

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hhtter in dispute	XV.	A m BE IT ENACTED,	hat if any dispute sliall arise betwcvu
shall ba reforred to

ubitniion. + the said 8avings Bank, or any phrson or persons nctilig on behalf thereof, aud any individual depoeitor therein, or auy executor or administrator, n&t of kin, or creditor, of any deceased depositor, or any person claiming to be such executor, administmtor, next of kin, or creditor, then and in every such case, the matter so in dispute shall be refcmed to the nrbitrntion"of two indifferent persons, oiie to

, be chosen and appointed by ttlie Tiostees of the mid Swings Bnnk,

and the other by tlie party with k*liom the dispnte srose; mid in

case the nrbitrators so appointed dmll not agree, then stlclr ~uatter -

in dispute sllnll be referred in writing to nn umpire having :m il~tercst

in such nmtter, or in tlie snid institution, to be chosen by tllc said mbitmtors; and wvl~atever award, [order, or deteriuiantioii sldl be

lnndc by tlw said nrl~itmtow, or tlw snid ulnpim, s h l l bc binding

ni~d conclasivc! oil all pnrbics, rind. s l d l bo fi11n1 to rill i u t o t ~ t ~ :\ud

purposes, witl~out	nny nppenl.	f
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Truaco8 Preparoa XVT. AND BE IT ENACTED, That the mid Trustees, or any five of 1

balance-sheet, and to

IV t h ~ -0 w o r e tl~em, &all, within one calendar month after the close of every yem, 1

the Qovsmor. cause a bahce-sheet to be prepr\r6d, containing a true stnklnent of r I

tlm receipts and py1nent.s on accbunt of the said Saviugs Bank 1 during the past yens, and of the Wance of money #. remaining iu

l. I such

. $

socl1 Colonial Bault as aforesaid ' to the credit of the said Savings Dank, and of all sums of money wllicb may in any mauner be due to the said Trustecs of such Saving, Bank, as such Trustees ss aforesaid; and they shall certify to the, best of their belief the cor- rectness of the said account or balance-sheet, by subscribing tho s a w with their names, and shall, within three days after such sub- scriptiou, lay the same before the Govkmor for the time being, for his nppro~a~l, and sltall cause the same, bftor being by him approved, to be published in the South Australia~ Gouernnzent Gazette.

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XVII. AND BE IT ENACTED, That a11 securities for money, or How muri t ica s h d

otller bo prasawd.

obligatory instruments, and eridcnces or muniments, which General Registiy Oflice, according to -lam, and to be preserved in the Colonial Trcnwry, in an iron ehesg llaviug two locks, the key of one of w6ich shall be kept by the Accountant, ancl the other by tlic Colonial Treasuyr; aud it s l d l hot be lawf'ul for the said parties in whose custody such keys arc plncod, or eitller of them, to dehver out of such cllest to any person wllntsoever, any security for money, or any obligtory instru~lleut mhiclr may have bee11 deposited therein, uidess the party applying for and claiming the sane sllnll produce an odcr for its delivery, signed by t h e e or

may be tnlien nud received for the repkymeet of ai1.v Burn or sums

of lnoncy lent by the Trustees fiwn dle deposits hi t l~e Savings

more of the Tiustees: PROVIDED ~Lwnqs, that as often as occasiou ~rov;so.

shall arise for the productiou of any such security, for inspection or otherwise, it shall be lawful for the Colollinl Treasurer, and lie is liereby required to deliver the sallie lint0 the hands of the Ac- countant for sl~ch purpose, under the authoritv of an order signed

by any two or more Trustees, stating tlm plvpose for mliich tlic

same sl~all be required to he delircrcd out, tlrc Accountant giving a receipt for the same; and the said Accouutniit is hereby required to restore the same to the custody of the said Colonial Treasurer imllledintely aftcr the purpose for which\ tlm same is delivered out

sldl have been satisfied. v

XVIII. Am BE IT ENACTED, That e?my persoil depositiug with ~ ~ ~ ' i n t c r w t On

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the mid Trustces, by oue or more pnymeuts, any sum not less than Twenty Shillings, or tile person on wltosc account the said deposits may have beeu paid, alld to whose credit they are placed in the books of the said Savings Bank, slmll be,:entitled to receive interest

, upon the same, at such mte as slidl be declared from time to time

by t l~e mid 'I'nistees, under tlm ~ondit~icsl~s 1rci.ciiinftcr cstablishc.d,'

c ~ c e p t ns hcrt.iu:sftcr cxccptd: Pnovrrz~m tIli~t no intwest s l d be rmriwr

nlloned on m y suus lcss tl~nn ollc pou~id, or on odd sllilling,s orpence,

and t l ~ n t t l~c

interest sl~nll b calculated. by tmoutlls, oiultting odd &lye, bet t l~a t m y sums deposited withill the first seven days of a

month sl~nll be entitled to bear interest fol: the wllole of that mwth; '

and the said Trustees limy and shall pay* such interest as is her&

directed upon all deposits of uot less hai l Twenty Sldlliqis, oont

of the interest received by tllom ou sun~o lent out as Lerclubefore	Y
appointed.

Rjbteof intamst mu t

XIX. AND BE IT ENACTED~ That it shall and ulhy h ln~vful for

be reduced.

the said Trustees, or n mnjod part of them, at ts General Mcetieg, to be held in the month of ~;&uar-y in every yew, by and with the co~iscnt xud approbation of $c Govor~lor of the s a d Province, to mtluce the rate or rates of it{terest on m y stun or sums of nloncy w l h h may be leut at intereut by tlic sdd Savings Bank as afore-

said.	f
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. r h 8 t ~ ~ 8 to embliah XX, AND TVIIBREAS it is csbedient to estnblisjl a Rest or Sccllrity

a ~ ~ c u r i t y fund.

, F ~ u d, to meet m y deficien~y or loss which may uuexpectedly occiw, BE IT TIIBREFORE EH~CTED. That 011t of the uet profits

made by tire Balrk, during t~rd first yenr of its formntioo, the Tnla-

tees of the snid Ba~rk slinll, At tlie end of such yenr, set apart n

sum, not being less than on&-twcotietl~, nor more tlinn one-teiith

,art of the wlvllole of such p80fits, to~rards tlie estzblislnneut of n

Lent or Security ~ u n d, for tih purpose of ineotiog any loss or de-

f ic ie~~cy which may uiiexpccte~ly occur; mid the remainder of such

profits, after the deduction $ofomsnid, slrall be the nmount to lx?

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divided alnong tlie depositors& by way of interest, accordiluli,lg to the provisions of this Ordiuouce. f, - m

Conditious to be	XSI. .+\PIG BE IT ENACT&,	That the conditions uucler wlricll
madc.

interest shall be paid on deposits, ru~d additions made to the Rest

or Security F u d, sliall be tlie!followiug :-

Fms~r.r. That so Iong as tll& Rest or Security Fund shall be less tllm the one-tenth pnrt of tlld mkolc ail~ount of mouevs deposited ill the Bank, the sum divided; among tlle depositors 'h my year s l ~ d l not exceed tl~ree-fo~nths bf the uet profits made by tlic Batik

clwing the snnle year. f t

SECONDLY. That whcne~er the Security Fluid shall be less than

the one-seveutll part of the whole amount uf moneys deposited in the Rault, the sum distributes as iuterest nolollg the depositors

sl~nll uot iu any year exceed four-fifths of the net profits made by

the Bank duiiug tile same yen^: 1.

TIIIRDLY. That wlreucver tbc Security Fultd be less t h n the

oiwfourtlr part of the whole alnount of 1i10rieys deposited ill tha 13nnIc, tlic sum divided auloilg tllc depositors in noy year slinll not cscced five-sixths of tlic uet pbofits made by the U w k duriag the

same yenr. f

PI~VIDED ALMS, that nlrenc&r tlic hest or Sccnritj Fuld - shall

omount to olwfourtli pnrt of fh \vholc amount of inoucys dcpo-

sited ill tlrc said Bank, no addition slrnll bc ~u;\dc. to the snid Fund

rlnlcss from loss or m y o t lw caosr it sliould at :my timc h11 sllort '

- of tlmt nniouilt: 1'1to~ink~ AI.@, that in cnsc nuy dcpo~itor shall

witl~draw the wliole of his debosits before the thirty-first day of 13eccmber in m y year, he sldl aiot be nllomecl interest ou the s m e for tlio period f o n i l i i ~ ~ part of tlic current ycnr duriug which the auount retmiued deposited in tye Bank.

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SxII. AXD RE IT ENACTED, That &e interest for any sum or ~ ~; ~ ~ ~: f ~; {

sums of money deposited, to wllic1l:zny depositor luny become	appliad for.
entitled wider the provisions of this &d~iiancc, sliall be added to
a i d i~morporatcd with tllc sum which $lay be then standing in t l ~ c
b001i~ of the said Savings h n k, to the credit of such party, and sllnll bcnr interest subject to the provi'$ons of tLis Ordinance, from the first day of the said mouth of& January, and interest shall

bc nllowcd to hill1 or ller np01i t l ~ e togd S L ~, SO* long as the same

s h d rcinfiiir depositrd in the said svings . h n h: P n o v m ~ ~

AL- 'Proyia.

WAYS, that notlriug in this Oirli~ianc& co~~tainecl shall entitle any

p e r s ~ i ~, except as lic?rcini~ftcr uientiou~cl by successive deporjits, to place in cbnlge of such Trustees m y &m escccding Two Hundred

l'ounds in the ~v1:ole: P ~ o v r n ~ n YUR$IPR, tlmt vlieoever the sum - Provim

or sluns st:l~iding ill the lmue of any &qx&or shall amount in the

whole to Two I-Tundlxd I'onnrls, pri$cipnl nlid iuterest i~icluded,

that thenccfortli no interest shall be $ayable on any sucli deposit,

so long as it shall contiiiue to anloimt to the said sum ' of Two

Hundred Pounds: PROVIDED ALWAYS #hat uotlling herein contained Pmvin.

slrall be deemed to limit the amouni &f nioneys belonging to the

estates of intestate persons, or otlierw$e paid into the said Savings

Hnilli umier m y order of the SupremGCourt of tlie Province. l

SSIII. AND DE IT ENACTED, ~ l m t '. it slmll aud may be Jnrvfill ConJi~ion8onrhich

for any person, being tlie owner of hny sulu or sums of money	deposits may be
deposited in tile said Savings Bank, $r ttLc iuterest thereof or for
nny person duly autliorizerl by such $lcpositor, or !for hio or het

esecutoi*~ or other lawful repl-escntbtivc, to claim aucl receive	'
back such sum or sums of money, 'j,or any part thereof, ill the
manner and upon the conditious foll8wing: that is to say-if the	.
sum o~ sums so required to be repaid 6 h l l not exceed Fifty' Pounds,
tllc clninlailt thereof sl~nll deliver or inuse to be delivered to the Trustees, or to their Accou~lt;lnt, a &ice signed with his or her ilnlile, declnrir,g his or l1cv intention td. rni thhw sucli sum from the Rnul; a t thc c~pirat~iou of ouo c;~leudai. lnonth froin the date of tile
mid notice; mid if the snin to be ~r'itlrdmwn sllnll exceed Fifty
Pounds, t l m ~ three nlon t l d notice din11 in like mnnnei* be given:

F~IOVIDED that ~iothillg herein cont;li,~&~ slid1 be construed to pre-

wilt the T~*ustees from dispcnsiug with such uotice in cases when

it imy to tlmn appear especiicnt. 4 f* !

SXIV. A m ER rr ENACTED, Tllfit!;n case the Trustecs of tllc infantsmaj make

finid S;~vings Bnuk of Sonth Australia$ shdl receive my deposit of doporsi ta

inoncy fioal or for the use or beodltof ' any pcsson u~rdcr tllc ngc of twenty-onc ycnrs, it shall bc I i w h l for thc said Trustees t,o pny s~mh person his or licr Aeio nt~dhte l -es t ill the Cullds of tlio

said S:~vings lkruk, ill thc i l l i ~ l l l ~ find u p tlm wuditious 11~reiu-

beforc nlqmilitcd ill tlic case of' otliof depositors; and tlle receipt of such person sliall be n suHiciclrt dikcl~nrge for any u~oncy p a d to hi111 or lux, As afomaid, notwithstduding his or her incnpacity

or illability in law to act for himself oi{~lerself. 2

XXV. ' A m

3loncys undcr can-

trol of Supreme Court

may bc invcsted in

rho Saringa Bank by

otdcr of Court,

on auch ~ ~ o u u t or accounts, for socll l&posc 01- I~ul.pos&, as

As to interczt upon

rum8 invested. the said Court shall by its or or orclcrs dil-ect; (711(1 tll:lt all and

each of such SU~IH of iuoucy bo il-rvcstc(l as afbresaid ~13:~11,

fiolll the tilne of being so il	d respcc~ively, ulltil tile pl'ioCl
when the same shnll be wi	n fro111 the said Savings Banlr,

bear intercst a t and nftcr tll llowed by the rules nlld rcguls-

SIICII moncp to be tio~r S of the said Rank: P ~ o v ~ n f n ALWAYS, that no such ~11111 or

withdrawn by ordcr

of Court only.	sutns of money, nor the intercs from tiim to time due tl~creon, slmll be paid out by, or frolu, the mid Savings 13mk, otllerwisc than by brder or ordefs of the said Courtt. or of a Juclre
of m y yew sl~nll exceed "tlti rate of ~ i f e Pounds ibr every
One 'l-lmdred Pounds; mid tlic intercst so payable shi~il
escccd that rate, the balance s l d l be ;~pplicd to the pav-
mcnt of iut,crest 011 tllc sums 011 behalf of the csr:&;.a
Never to cxcced half	of intcstlte and insolvent pcrsoks, or othenrise, by order of thc
the rate tlllowcd to	Sulwcinc Court: AND PROTII)ED ~ U R T I I E I I, that the rate of iotcrcst
other depositors	pnpblc in rrspect of such last-~~?~utioned moneys shnll llerer exceed
one half of tile rate OF iiiterest I):~F;~ljle to the other depositow.

3

Aa to doposite of	SSVI. Am BE IT EXACTED,	$lmt in cnse any depositor in the
persons deceased

being under f20. f ~ ~ n d s of the snid Sayings Bnuli 9 hall die, l c av i~~g n suui of moucv

in the mid Snviugs l h l i, n. l ~ i c h ~ \ v i t l ~ tllc iutcrest illerron, shall &t

exceed in the whole T ~ c l i t y I'o~pds, it s l i d be lnwtitl for the said Trustees, and they arc 1,creby ki~tliorized nud perziii ttcd (in case such tmstees sl~nll bc satisfied tlht no will was iuatlc and left by

w c l ~ deccnscd depositor, aud tl&t no ' l e t t e r~ of adulinistrfitiol~ d i

4'

' f

2nd snl)ject to the sntm t v w t S, m thout any assigtuuant or convey-

~roviso.	ancu whntcver: PI:OVIDEII A I ~ W A I ~, that all sum or S U ~ I R of nioney paid on the redemption of any lands nnd lioreditnmentu may be rcccivccl by any onc Trustcc, togc+r with the Aeeo~mtal~t for the
time beiilg of tlir said S n v i ~ p &wk, m d all receipts and other
acc~~~ittmces for tlre sanx luny b 4 sig~led by one Trustee, together with the said Accountant, in the dnwe of, and for and on bchalf of the said Vice-Pr&dcnt of tlm saiif Savings Bank, aud such receipts aud acquittances so s i g ~ c d as afofcsaid, shall be deemed and tnkcn to be as valid and cffectud at l:w$nd iu.equity, as if the same llad becn sigiwd by thc Vice-Pi+esident of the said Snvinp Bank; a id the mid vice-hesident may iusti&te ally action, suit, prosecotion, a id other proceedings at lam and $1 equity, by and on bellnlf of the
said Savings Ri~ulc, or wherein thb said Savings Bank is, or S ~ L R U,
or may ix conccn~cd ngainst ally fierson or persons, body or bodies
politic or corporate, and wlietl~er $pcli person or persons sliall be a Trustee or officer of the said Saribp linoli, or otllerrvise; and such action, suit, prosecution, and prdccediiqp sball be couimcnced or iilstitutcd, and carried on in tlie ;+lame of the Accountant of tlte

..	mid Saviligs Bank for the tin~e:beil~g, 8s tlie tiunii~lnl plnintitt;
coii~ldaiunnt, or petitioner, for add on behalf of the mid S~ivii~gs
Daiik; and nll nctions, suits, or $laceedings as nforesaid, to be colu~ncnced, institutcd, or prbsecutcd .?~ainst tile said Savings Raak, sh:~ll be defended By the Vicc-P+sitlent, but the snnw shall be commenced, iltstituted, and proscQted ngaiust the snid Acco~mtnnt
for tlie time being of the snid Snvin~s Ba~il:, as the nominal d d t n -
dant for nud ou Belidf of tlie said ~ h t i, q s Emk; and all prosecutions
for h u d upon or against the S& Bank, or for emhczden~cnt,

robbery, or stealing the hills: note* bonds, moneys, goods, clmttels, eflbcts, or property of the sald Brink, or for m y otlier otiieoce against the said Bank, slinll or may be so con.meoced or instituted, md -carried on in the m m e of the said Aecou~ttni~t for the t h e being

\of the finid B:mli; nud in all inclictueuts a114 ilifomatioxls it s h d t

be lnwf~d to state tile property of tkie mid Bank to bc the property

of the said Accouutant for the tiiijc beiilg; m d ally OR~IICC COIII-

nlittcd with intent to injure or drfi*notl tlle said Bsuk shnll, and lnmf~dly mny, ill ally pmsecution 09 account of the same, be stated

*	or laid to have been cooimittcd with inteut to injure mid defraud such Accountent for tlrc time b e i q of the sai'd Bank, mid m y ofionclor oi* ofk'e~xlcrs mn y tl~ereopoi~ be l i ~ ~ ~ f u l l y convicted of my
soch offcnce; mid in all other slleg~tions m d iudictn~ents, iufolmm-
tions, and otller plcocecdii~gs, it slrnll.nild nlnv Le 1nwf11l nnd sufficient froill nud nftcr thc p;rdllg of tids Ordillan&, to st:lte tlre uniue of sneli Accou~rtnnt; i111d 110 such suit,; iwtiou, or prosecntiou sltnll be diacoiltii~ucd or :d)ntcd by tlrc clc:~tli.of mcll A ~ c o ~ u ~ t i ~ n t, or by his resipation or reinoval f iou office wlricli 11e I d d at tllc time ivllcn s l~ch action, suit, or prosecution was comu~eilced, but the sqme shall m d may be proceeded with in the n&ue of my person who mar be or bccolnc Accountnnt of the snid s<vings Bmlk for the tinw b&g, and such person s l i d pay or receive';like costs as if such action or suit lmd been co~menced in his for the beuefit of, or to be
reiruburaed from, the f ~ ~ n d s of the sai$ Gaviugs Bsak.

>

e

'r XXIX. Am

i Q

Memorials of names

XXIX. AND BE IT ESACTED, That s $mmorial of the name of of Vice-President and

the Vice-President, and a memorial of the name of the Accountant	Acconntant to be r6-	'
corded on oath in
for the time being of the said Savings sink, in the form or to the	Supreme Coal%
effect for that purpose set forth in the f@edule hereunto annexed,
signed by at least four of the said Trustees of the said Savings
Bank, shall respectively be recorded $on oath in the Supreme

' Court of South Australia, within thirty (lays after the passing of

this Ordinance; and wvllen and as oftell a& any Vice-President shall

be appointed by Q e mid Governor as hei.einbefore directed, or any

. Acco~mtant of the said Savings Balk sllall be aewly elected Ac-

couiitant thereof, a meir~orial of the name of sucli newly appointed

Vice-Preside11 t, or sue11 newly elected (Accountant, in the same

. form or to the same effect ns the above-mentioued memorial, signed by such newly appointed Vice-President, or such newly elected Accountant, as the case may be, and b-fefour of the said Trustees

of the said Savin S Bank, shall in like manner be recorded upon

oatoh in the said B upreme Court of Sou& Australia, within th~r ty

days ilcxt after such Vice-President shal1.h appointed, or such Ac-

countant shall be so elected, as the case @ay be. 9

record

XXX. ne IT ENACTED, ~ i l a t uu t i s ~nemorial of the name until made, no action to be

of the Vice-President, or of the Accouut$nt for the time being, be h. ,h,

recorded iu the manner herein directed, Eno actiou, suit, or other ,

roceeding shall be b r o u d t by the sa i4 Bank in the name of the

b c e - ~ r e s ~ d e n t, or of the Accountant of the said Bank ss aforesaid,

under the authority of this Ordinance. 2

XXxI. PROVIDED ALWAYS, AND BE IT :ENACTED, That tlm said Yim-Plesident and Accountmt to k

Vice-President or Accountant, being the plniutifY, coomyl~inant,	0, p t c n t wiioeuc.
petitioner, or defe~ldnnt in m y action, suit, petition, or other pro- ceeding, as aforesaid, on bellelf of the said Bald<, shall uot prevent or affect the co~npetency of any such Vic+Prcsident or Accountant, so as to prevent him fiom bciw a witx$ess in such action, suit.,

etition, or other proceeding, in t e same 'nxumer as he might have e

Eecn if Iris nnlue bad not been made use as such plaintiff, com-

plainant, petitioner, or defendant in any inch action, suit, petition,

or other proceeding.	I
A E '

XXXII. A m BE IT ENACTED, That ill :any action to be b r o ~ ~ g h t want or p,f~f

in the name of the said Vice-President or Accountant of the said ~ d, ~ f ~ ~ - ~ ~ d

Bank, by virtue of tllis Ordiimucc, the plaintiff tl~erein s l d not be p~aintif~

non-suited, nor shall a verdict be given agiinst him for want of proof of tho rccord of sudr nlcniorjnl or inenlorinls RS hereinbefore mcn- tioncd; but in cnso tlio dcfcndnnt in any such action s l ~ l l mnkc it

appcnr on such t h l t l~nt no ewll incmorid or mcmoriols as howin-

beforo n~ontioucd lms, or 1 1 m bcen recorded, then R non-suit d d l

be cutered in such action.	7
f

XXnII. AND BE, IT EXACTED, That an3 one or more of the said Limitin r a p m i -

Trustecs shall not be answerable or accountable for the other or ~iitr ~k,.

0 t h of them, but each and every of them only for his and their $2

D own

own acts, receipts, neg1ects respectively; and that they,

or m y of tliein, shall not or accouutable for any

banlrcr, bi*oker, or other	oz. in whose hands or
custody my part of the	shall or may be dv-

posited or lodged for safe in the execution of

the trust hereby in them or any of them

shall not be auswerable

or cle-

ficiency of any

shall be placed out or

any lands, nor for any other misfortune; loss, or damage which may

bappc11 in the oxecntion of the bforesaid tmsts, or in relation these- unto, except the same shall ha$pen by or through their own wilful

neglect or default respectively.;

!

Executors, &c, of	XXXIV.	AXD BE	IT E N A C ~ D,	That if any person holding any
officcra of Savings

Bank to p,,y m u n q office in the said Savings ~ a u l 6 and having in his hands or pos

dlle Snyin~s%nk session any moneys or effects l+elongiw to such Bank, or any deeds

befom any othzr

debu. or sec~~rities relating to the same, shal 1 become bankrupt or insol-

. vent, or slid1 make any assignhent of his lands, goods, chattels or effects, for the benefit of his crc&tm, or shall have his lands, goods, chattels or effects, taken in execution or by attachment or other process; or if m y sucli officer $11611 die, tlieu, and in any such case, it shall and may be lamful for ipy two or more of the Trustees of the snid Savings Bad; respectiyely, to apply to. such officer or to his assignees, or to the Sheriff' or other person executing such process, or to his executors or rylministrators, or to any other person or persons having legal right[ as the case may require, and to deuimd that such moneys or !effects beloug.iilg to swlr Savings Banlr, and all dceds, secnrities, br papers relatmg to the same, <hall be paid over or delivered up to $he said Trustees, or to such person as they shall appoint; and 'the iparty or palties so applied to, and llnving the same, shall, withint. forty days after such demand as aforesaid, &liver over to such Trestees, or to any person or persons whonr they mmly appoint to receive the same, all moneys, etiects,

, or other things belongin5 to Such Savings Bouk, aid a11 deeds,

securities, or papers rektiiig tojthe same, mid shdl pay out of t l~e

estates, assets, or effects of such person so being or having beeu an officer of the mid Bank, all, slims of money belonging or due by mcll officer to the said Bnuk before any otliw of the debts of the said ofticor arc paid or sntisficd,! or before the money directed to be levied by ssulr process as aforesbicl is paid over to the pnrty issuing sucli procexs, as the cnso mad h?, and all assets, lands, goods, chattels, estates, and effects, fifmll be bousd to the phyiyment and diciclmrge tbcrcof accordingly.

Ordinat~ce to be; XXXV. AND BE IT ENACTE~), That this Ordimnce shall be

Public ACC,

notice'of ns such b the Jud e jof the Supreme Court of South	deemed and t,zkeu to be n yuMic 'Act, and s l d l be judiciaHy taken
44ustrdin, and by a1 '!iotlm Jn f gch Justices, and others within the
mid Colon of South Austlnlia nlid its dependencies, withput being
specially p eaded. P >A I

i

I XXXVI. A y

' I.

SXXVI. A m m IT ENACTBD, That -/&is Ordinance shall be in

force and take effect fiom and after tlie'jfirst day of January, one

thousaud eight hundred and forty- eight.	'S*
i

g .

.,

>.	SCHEDULE
i

SCHEDULE EFERRED TO.

I j

MEMORIAL of the name of the Vice-Prc$ident (07- the Accountant, as the ease may f

he) of the Savings Bank of South AustYdia, purauant to an Ordinpnee enacted by the Governor of South Australia, with 41e advice and consent of the LegiaLUve Council there~f (No. 16, 18471, " To E tablish a Savings Bank in South Australia,

to pro.vide for the Management thereoCland for the Security of Deposits therein:" i

A. B., Vice-President (or as the tarr nay 64) ,

- 1

L. M*, of Adelaide, oath and aaith, that heewss present and did

see the foregoing abovenamed Vice-President (or AA , !

countant, cu the cuse may	respectively, whom names appear
thereto.

Sworn this