Act No. 99, 1902.
An Act to amend the Savings Bank of New South Wales Act, 1902; and for other pur poses connected wi th t he business , control , and managemen t of t he Savings Bank of
| N e w South | Wales . | [17th December, | 1902.] |
| BE i t enac ted by t h e | t h e | advice a n d consent of t h e Legis la t ive Council and | Legis la t ive |
| K i n g ' s Mos t | Exce l l en t | Majes ty , by and | wi th |
| Assembly of | N e w Sou th W a l e s | in | Pa r l i amen t | assembled, and by | t h e |
au tho r i t y of t he same, as follows :—
| 1. This A c t m a y be cited as t he " Savings B a n k of N e w | South |
| Wales | ( A m e n d m e n t ) | Act , | 1902 , " | and | shal l | be | construed | w i t h | t h e |
| Savings B a n k of | N e w Sou th W a l e s | Act , 1902, hereinafter | called | t h e |
| 2 . | The proviso to subsection | one of | section | t h i r t y - n i n e of | t he |
| Pr inc ipa l A c t is hereby repealed and t h e | following proviso | subs t i tu ted |
| in lieu thereof :— |
| " Provided t h a t no loan upon m o r t g a g e as aforesaid | shal l | exceed |
| t h e a m o u n t of twenty- four | t housand pounds to any one person, | a n d |
| t h a t no t more t h a n th ree - four ths | of t he whole moneys deposited in t h e |
said b a n k shal l be lent on such mor tgage as aforesaid."
| 3 . Section seven and Division 2 of P a r t I V of t he | P r inc ipa l |
| A c t are hereby repealed, and t h e offices of | dis t r ic t | t rus tees u n d e r | t h e |
| Pr inc ipa l A c t are hereby | abolished. |
4 . The t rus tees may , a t such places as they shall t h i n k fit in
N e w South Wales , establ ish and ca r ry on b ranches of t he bank , a n d t h e business of t h e bank shal l be carr ied on a t such branches u n d e r t he control a n d direct ion of t h e t rus tees in such a m a n n e r as t hey shal l
| direct , and t h e t rus tees | m a y appo in t such officers | for | ca r ry ing on t h e |
| business of such branches as t hey m a y t h i n k | fit. |