No. XL.
An Act to alter and amend the Laws relat ing to the Savings' Banks of New South Wales and Por t Phillip respectively. [14$. June, 1848.]
| WH E R E A S by two several Ac t s t h e one passed in t h e four th | of t h e re ign of H e r present | Majesty | Queen Victor ia | in t i tu led |
year
| " An Act to render ratal certain acts already performed | or hereafter |
| " to be performed by one Trustee and the Accountant of the Savings' | " Bank of New South Wales''1 and the other passed in the e leventh |
| year of t he re ign of H e r said Majesty in t i tu led " An Act further to " amend the Laws relating to the Savings' Banks of New South W<dcs " and Port Phillip respectively and to empower the Trustees of the " Savings' Bank of New South Wales to erect premises wherein to " carry on the business of that Institution" cer ta in provisions arc made |
| dec lar ing t h a t all su r renders and | re-ass ignments which shall be | |
| signed | and executed by one Trus tee | and the A c c o u n t a n t of t h e | said | |
| Savings ' B a n k of N e w South W a l e s shal l be as valid and | effectual | |
| t o all i n t en t s and purposes whatsoever | as if t h e same h a d been made | |
| signed a n d executed by the Vice-Pres ident | a n d al l t h e Trustees of | |
| t h e said Savings ' B a n k | and provision was m a d e for ves t ing all lands | |
| t e n e m e n t s and he red i t ament s be longing to t he Savings ' B a n k s of N e w South Wales and P o r t Phi l l ip respectively in t h e respective Vice- Pres iden ts for t h e t ime be ing of such b a n k s a n d the i r successors in office and t h e said Vice-Pres idents respectively were empowered to execute on behalf of t h e said b a n k s all deeds re la t ing to any such lands t enemen t s and he red i t aments and provision was also m a d e for t h e ves t ing of such lands t enemen t s and he red i t amen t s du r ing the in t e rva l which should happen between t h e death res ignat ion or removal of any such Vice-Pres ident and t h e appo in tmen t of his successor in office A n d whereas it is expedient to amend the laws re la t ing to t h e Savings ' B a n k s of New South W a l e s and P o r t Ph i l l ip respectively B e it therefore enacted by H i s Excel lency t h e Governor of N e w South W a l e s wi th the advice and consent of t h e Legislat ive Council thereof Tha t so m u c h of t he said reci ted Ac t s as renders valid and effectual any su r render and re-ass ignment which shal l after t h e pass ing of t h i s Act be s igned and executed by one Trus tee and the A c c o u n t a n t of t he said Savings ' B a n k s or c i ther of t h e m a n d so m u c h of t h e said Acts as provides for t he ves t ing of all lands t enemen t s and he red i t amen t s be longing to t h e said Savings ' B a n k s in t h e respective Vice-Pres idents of t h e said b a n k s and the i r successors and empower ing t h e m respectively |
| to execute deeds re la t ing to any such lands t enemen t s | and | heredi ta | |
| men t s and for t he ves t ing | of | such lands t enemen t s and | he red i t amen t s | |
| d u r i n g t h e in te rva l which should happen be tween the dea th res ignat ion or removal of any such Vice-Pres ident and t h e appo in tmen t of his successor in office shall be a n d the same are he reby repealed b u t not |
| so as to affect a n y t h i n g done or executed in pur suance | thereof | |
| respect ively. |
| 2. And be it enacted Tha t all lands t enements and he red i t aments which now do or hereafter may be long to the said Savings ' B a n k s respectively for- any es ta te or t e r m of years as or in the n a t u r e of a secur i ty or otherwise or in or to which the same respectively are or shall be in any way in teres ted or ent i t led by vi r tue of any mor tgage release g r a n t or otherwise howsoever and in t h e n a m e or names of whomsoever t he same respectively now or shall or may s tand or be | held | |
held in t r u s t for or in behalf of t h e same respectively shall from a n d after t he pass ing of t h i s Ac t be vested in law in t he Vice-Presi den t for t h e t ime being of each b a n k respectively and his successors in office Vice-Pres idents of t h e said b a n k as and in t he n a t u r e of a body corporate and all lands t enemen t s and he red i t ament s in tended to be conveyed assigned or assured to t h e said b a n k s respectively shall be conveyed assigned and assured to t he Vice-Pres ident for t h e t ime being of each of t h e said banks respectively a n d his successors in office Vice-Pres idents of the said b a n k as a n d in t h e n a t u r e of a body corpo ra t e for such es ta te or t e r m as in any deed or inden tu re expressed or t he r eby in tended to be conveyed a n d all such lands t enement s and he red i t amen t s so to be vested conveyed assigned or assured as afore said never the less to be to t h e use of such Vice-Pres ident as aforesaid and his successors in office b u t for t he benefit of t he depositors of t he b a n k a n d t h e Vice-President of each of the said Savings ' B a n k s and his successors in office shall and may and they are hereby empowered to accept t ake and hold sell exchange let convey re-convey assign re-assign assure re-assure and otherwise dispose of as and in t he n a t u r e of a body corporate un res t r a ined in point of a l ienat ion all such lands t enemen t s and he red i t aments and also all o ther lands t e n e m e n t s and he red i t ament s be longing to t h a t b a n k a n d such sale exchange lease conveyance re-conveyance ass ignment re-ass ignment assurance re-assurance a n d disposition shall be as effectual as if t he same h a d been m a d e by a body corporate ho ld ing such lands t enement s and he red i t ament s a n d unres t ra ined in poin t of a l ienat ion and shall w h e n executed by tin; conveyancing pa r ty or par t ies be valid and effectual in t h e law wi thou t l ivery of seisin be ing made or any ba rga in and sale to vest possession being executed.
3 A n d be i t enacted Tha t it shal l be lawful for t he Vice- Pres ident of each of t he said Savings ' B a n k s and his successors in office Vice-Pres idents of each of t h e said b a n k s respectively to receive any s u m or sums of money payable in respect of any such sale exchange lease conveyance re-conveyance ass ignment re-ass ignment assurance re-assurance and other disposit ion as aforesaid made by t h e Vice-Presi dent for t h e t ime be ing of t h a t bank and t h a t h is or the i r receipt or receipts in wr i t ing for any such s u m or sums of money shal l be a sufficient and effectual discharge or sufficient a n d effectual discharges for t h e same respectively or for so m u c h thereof respectively as in such receipt or receipts respectively shal l be expressed or acknowledged to
| be received a n d tha t t h e person or persons to w h o m the same shall be | given his her or the i r hei rs executors admin i s t r a to r s or assigns shal l |
| no t af terwards be answerable or accountable for any loss misapplica t ion or nonappl ica t ion nor be in anywise obliged or concerned to see to t h e applicat ion of t he money the re in expressed or acknowledged to |
| be received | Provided a lways t h a t ins tan t ly on the dea th | res ignat ion | |
| or removal of any Vice-Pres ident of e i ther of t h e said banks a n d u n t i l ano ther Vice-Pres ident thereof shal l have been duly appointed by I i i s Excel lency t h e Governor a n d ac tua l ly come in to office t h e senior Trus tee in t he order of appo in tmen t of such b a n k res ident in t h e Colony of N e w South "Wales shal l become be; and r ema in Vice-President |
| thereof. |
| 4. A n d be it enacted Tha t any por t ion of t h e funds of t he said Savings ' B a n k s of New South W a l e s a n d Por t Phi l l ip respectively shal l and m a y in t he discret ion of t h e Trus tees thereof for the t ime be ing respect ively be len t and advanced to t he Colonial Governmen t on t h e securi ty of debentures to be issued by the Governor for the t ime be ing of the said Colony of N e w South "Wales (such debentures to be m a d e chargeable on t h e Genera l Revenue of t h e said Colony) for t h e purpose of car ry ing on any work or works of publ ic ut i l i ty wi th in |
the
t he said Colony winch by a n y A c t or Ac t s of t h e said Governor and Legis la t ive Counci l may be author ized to be carr ied on by funds so borrowed Provided a lways t h a t t he said publ ic works shal l be wi thin t he distr ict of each of t he said Savings ' Banks respectively.
5. A n d be i t enacted Tha t from and Rafter t h e pass ing of th is A c t no deposit of a n y s u m or sums of money shall be received in t he said Savings ' B a n k s or e i ther of t h e m u n d e r any order or orders of the S u p r e m e Cour t of t he said Colony or of t he 'District of P o r t Phil l ip or of any J u d g e thereof respectively any pr ior Law or Ordinance
| to | t he | cont rary | no twi ths tand ing . |
| (>. A n d whereas it is expedient to increase t he n u m b e r | of |
| Trus tees of the Savings ' B a n k of | P o r t Phi l l ip and to a l ter the mode of |
| not i fying t h e appo in tmen t or removal of such Trus tees | Be it therefore |
| enacted Tha t t h e n u m b e r of Trustees of the said Savings ' B a n k of | P o r t |
| Phi l l ip shal l be not less t h a n twelve nor more t h a n e ighteen | to be |
appoin ted by J lis H o n o r t h e Super in tenden t of P o r t Phi l l ip for t he t ime be ing and every such appo in tmen t of Trustees and also every removal from office and every fresh appo in tmen t of any such Trustees or Trustee' shall t ake effect from and a l ter the notification of the same in the l?ort Phillip Government Gazelle by order of the said Super in tenden t .