Small Savings Ordinance 1855 (WA)

WESTERN AUSTRALIA.

AN NO OCTODECI1110

VICTORIA: BEGINS

No. III.

Au Ordinance to provide for the encourage- ment, safe custody, and increase of Small Savings in Western Australia.

HEREAS in the absence of any Society in the nature of a Prearablo.

W Savings Bank, it is expedient to provide means for the

safe

18th Vict. No, 3. 1855,

safe custody and increase of small savings in Western Australia;—Be it therefore enacted, by His Excellency the Governor of Western Aus- tralia and its Dependencies, by and with the advice and consent of the Legislative Council thereof

I.     THAT it shall be lawful for the Governor to direct the Colo-

deposits. Colontal Treasurer keeps nial Treasurer to open an account in his office, to be called the

Small Savings' Deposits,' which shall be kept by him in accordance

with such rules and regulations as are next hereinafter provided.

II.      THAT it shall be lawful for the Governor, with the advice of

Governor in Council the Executive Council, from time to time, to make such rules and

makes rules.

regulations for the guidance of the Colonial Treasurer, and the due operation of this Ordinance, as to him shall seem fit, and as often to alter and revoke the same; which rules and regulations shall have the same force and effect as if they had been incorporated with, and formed a part of this Ordinance ; Provided that such rules and regu- lations, or a copy thereof, shall be duly published in the Government

Published in Gazette.

Gazette, and also be kept suspended in some conspicuous part of the

public office of such Colonial Treasurer.

THAT it shall be lawful for the Colonial Treasurer to re- ceive from time to time, according to the regulations aforesaid, from any person or persons, trustee or trustees, willing to deposit the

III.

Not rupee than£25.	same, small sums of money, not exceeding the sum of £25 in the whole, on account of any one depositor, exclusive of compound in- terest, in any one year, ending 31st day of December ; and any further
£100.	sum or sums whatever, not exceeding El 00 in the whole, on account of any one depositor, and to sign and give receipts therefor in manner herein provided ; and it shall be lawful for the Colonial Treasurer to apply any such sum or sums of money in such manner as hereinafter provided.

THAT the Colonial Treasurer shall cause all monies so de- posited as aforesaid, to be paid into the Colonial Chest from time to time, under such regulations as the Governor shall direct, to be carried to the account of the ' Small Savings' Deposits,' and the interest which shall arise from time to time and become clue thereon, shall in like manner be paid into or retained in the Colonial Chest from time to time, or paid out therefrom as hereinafter directed,

IV.

Colonial Chest.

1855.                18th Viet. N o. 3.

V.      THAT upon the receipt of any such deposit, it shall be law ful Receipt.

for the Colonial Treasurer, and he is hereby authorised to issue a receipt signed by him, for the amountof such deposit, carrying interest at the rate of .E5 sterling per cent. per annum, from the next quarterly Five per cent. payable

day of calculation or computation inclusively, payable with the princi- (11141 el Y.

pal,when the same shall be demanded or drawn for within the time and

in the manner required by this Ordinance, and such receipt shall be

dated on. the day on which the deposit of any such sum or sums

of money shall be made respectively, and every such receipt shall be

in such form as shall be provided by the said rules and regulations,

and the principal and interest of all sums mentioned in such receipt, Colonial revenues pledg.

shall be chargeable upon, and the same are hereby guaranteed out of ed'

the ordinary revenues of the said colony.

THAT all interest which shall become due and payable upon any sum of money mentioned in such receipt, upon the 1st day of January, the 1st day of April, the 1st day of July, and the 1st day of October in every year next after the date of any such receipt, shall be from time to time, calculated and computed by the Colonial Treasurer, and shall in each and every year be placed to the credit of the depositor on whose account any such sum of money was deposited within two weeks from such last mentioned dates respec-

VI.

tively, and if not drawn within the said two weeks, shall be Interest undrawn carried

carried to the account of such depositor, and shall become principal, to Recount.

and shall from thenceforth carry interest as principal money paid to the said Colonial Treasurer ; and a receipt according to such form as is or shall be provided by such rules and regulations, shall be issued and signed by such Colonial Treasurer quarterly, within two weeks after such last mentioned dates. respectively (and such receipts shall bear date the 1st of January, the 1st of April, the 1st of July, and the 1st of October respectively) for the amount of such interest so credited and made principal as aforesaid, as if the said sum of in- terest so calculated had actually been paid to the said depositors, and by them repaid to the said Colonial Treasurer ; Provided that no interest shall be computed or calculated on the fractional part of a pound

THAT it shall be lawful for any such depositor, or his legal representatives, from time to time, personally, or by any draft or order, payable to hearer, having the signature of the drawer thereof

VII.

drawer resides, according to such form, and at such times as shall be ti" ur the peace. attested by some Justice of the Peace of the district within which the Order attested by a Jut

provided

18th Viet. No. 3. 1855.

provided by such rules and regulations, to require that the whole or a part of the principal sum or sums of money standing in the books of the Colonial Treasurer to the credit of such depositor, shall be paid to such depositor or his appointee, or his legal representative, arid, upon such demand by such depositor, or upon such draft or order being presented to the Colonial Treasurer, such Colonial Trea- surer shall pay the amount required, if due; Provided that no interest shall be allowed on such sum so drawn as aforesaid, from and after the day of the last quarterly computation or calculation of interest, and no interest shall be allowed on any sum so deposited as aforesaid, before the day of the next quarterly computation or calcu- lation.

VIII.      THAT in case the Colonial Treasurer shall receive, or

shall have received any deposit df money from, or for the benefit of

Minors. any person under the age of twenty-one years, it shall be lawful for the Colonial Treasurer to pay such person or his or her draft or order attested as aforesaid, his or her principal and interest monies, or any part thereof, and the receipt of such person shall be a sufficient dis- charge, notwithstanding his or her incapacity or disability in law to act for himself or herself.

THAT it shall be lawful for such Colonial Treasurer to pay any sum of money in respect of any deposit made by married

IX.

Married women. women, without notice that they are married women, and deposits made by women who may have afterwards married, to any such women, unless the husband of such married woman, or his repre- sentatives, shall give to such Colonial Treasurer notice of such marriage, and shall require payment to be made to him or them.

X.     THAT such Colonial Treasurer shall make out full, true, and

just accounts at such times and according to such form as shall beprovided by said rules and regulations, which accounts shall be forth-

Accounts published in

with audited by the Colonial Secretary and Auditor-General, and

Gazette.

thereupon be submitted for the information of the Governor, and by

his order be published in the Government Gazette.

THAT when the total amount of the depositors' balances in the safe keeping of the Colonial Treasurer shall amount to the sum of £5,000, it shall he lawful for the Colonial Treasurer to decline to receive any other or further deposit from any person or persons, so

XI.

/SOO.

long as such balances as aforesaid shall continue to amount to £5,000,

as aforesaid.

1855               18th Viet. No. 3.

THAT it shall be lawful for the Governor, by and with the advice of the Executive Council, from time to time, and at all times, to use and employ any such portion of such deposits as aforesaid, as the Governor may deem expedient, in and towards the ordinary ex-

XII.

penditure of the Local Government of the said colony, or to invest the G soevdeerp	n oogr itmay invest and
same, or any part thereof, in the purchase of Government Debentures, u and the interest which shall arise from time to time and become due thereon, shall in like manner be invested or be used and employed as aforesaid.

XIII.     THAT the words hereinafter mentioned shall in this

Ordinance be interpreted as follows :—that is to say, the word denizens, and women, to entitle them to all the benefits given thereby ; and that this Ordinance shall be construed in the most beneficial manner for promoting the ends thereby intended.

Governor shall "mean and include the officer for the time being ad-Terms.

ministering the Government, and the words Colonial Treasurer shall

mean and include the person or persons for the time being acting as

XIV.      THAT this Ordinance may be cited as the " Small Savings'

Ordinance," No. 3, 1855.

CHARLES FITZGERALD,

GOVERNOR AND COMMANDER-IN-CHIEF.

Passed the Legislative Council

this 12th day ofApril, 1855. .1

A. O'GRADY LEFROY,

Clerk of the Council.

Printed by authority of the Government, by E. Stirling, Perth.