Statute Law Amendment (Authorised Deposit-taking Institutions) Act 2001 (Vic)
Statute Law Amendment (Authorised Deposit-
taking Institutions) Act 2001
Act No. 11/2001
TABLE OF PROVISIONS
Section Page
1. Purpose 1 2. Commencement 1 3. Amendments 2
__________________
SCHEDULE—Amendments 3
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ENDNOTES 29
i
Victoria
No. 11 of 2001
Statute Law Amendment (Authorised Deposit-taking Institutions) Act 2001†
[Assented to 8 May 2001]
The Parliament of Victoria enacts as follows:
1. Purpose
The purpose of this Act is to amend specified Acts so as to permit non-bank financial institutions to provide banking services to bodies regulated by statute.
2. Commencement
(1) Subject to sub-section (2), this Act comes into operation on a day to be proclaimed.
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
| s. 3 | Act No. 11/2001 |
(2) If this Act does not come into operation before 1 June 2001, it comes into operation on that day.
3. Amendments
An Act specified in the heading to an item in the
Schedule is amended as set out in that item.
__________________
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
Act No. 11/2001 Sch.
SCHEDULE
Section 3
AMENDMENTS
1. Aboriginal Lands Act 1970
In section 11(1)—
(a)
in paragraph (d), for "bank" substitute "authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth";
(b) for paragraph (f) substitute— "(f) have accounts with any authorised deposit-
taking institution within the meaning of the
Banking Act 1959 of the Commonwealth;".
2. Accident Compensation Act 1985
2.1 In section 5(1)—
(a) after the definition of "authorised agent" insert— ' "authorised deposit-taking institution" has the same meaning as in the Banking Act 1959 of the Commonwealth;';
(b) the definition of "bank" is repealed.
2.2 In section 32(5), for "bank or banks" substitute "authorised deposit-taking institution or institutions".
2.3 In section 146(1)(a), for "a bank" substitute "an authorised deposit-taking institution".
3. Agricultural Industry Development Act 1990
In section 40, omit "bank,".
4. Ambulance Services Act 1986
In section 44—
(a)
in sub-section (1)(a), for "at any bank or other" substitute "with any".
(b) in sub-section (2), omit "bank or other".
5. Bail Act 1977
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
| Sch. | Act No. 11/2001 |
In section 9(3)(a)(ii), for "savings bank pass-book" substitute "savings pass-book".
6. Benefit Associations Act 1958
In section 23(1)(d), for "any bank" substitute "any authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth".
7. Borrowing and Investment Powers Act 1987
7.1 In section 3(1)—
(a) after the definition of "Australia" insert— ' "authorised deposit-taking institution" has the same meaning as in the Banking Act 1959 of the Commonwealth;'.
(b) the definition of "bank" is repealed.
7.2 In section 5, for "bank" substitute "authorised deposit- taking institution".
8. Building Act 1993
In section 22, for paragraph (b) substitute—
'(b) an undertaking to pay that amount together with a
guarantee provided by a body that is permitted to use
the expression "bank" under section 66 of the
Banking Act 1959 of the Commonwealth—'.
9. Cancer Act 1958
In section 27(1), for "bank" substitute "authorised deposit-
taking institution within the meaning of the Banking Act1959 of the Commonwealth".
10. Casino Control Act 1991
10.1 In section 3(1), after the definition of "approved bettingcompetition" insert—
' "authorised deposit-taking institution" has the same
meaning as in the Banking Act 1959 of the
Commonwealth;'.
10.2 In section 64(g)(iii), for "a bank" substitute "an authorised deposit-taking institution".
10.3 In section 68(1), in the definition of "cheque", in paragraph
(a), for "a bank" substitute "an account of an authorised
deposit-taking institution".
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
Act No. 11/2001 Sch. 10.4 In section 68(7), for "bank a cheque" substitute "deposit a cheque with an authorised deposit-taking institution".
10.5 In section 122(1)(k), for "to a bank and from a bank"
substitute "to an authorised deposit-taking institution and
from an authorised deposit-taking institution".10.6 In section 123(1)—
(a) in paragraph (a)—
(i) omit "bank" (where first occurring);
(ii) for "a bank" substitute "an authorised deposit- taking institution";
(b) in paragraph (b), for "bank" (where twice occurring) substitute "authorised deposit-taking institution".
10.7 In section 123(2), for "a bank" substitute "an authorised deposit-taking institution".
11. Cemeteries Act 1958
In section 8A(1)(a), for "bank" substitute "authorised
deposit-taking institution within the meaning of the BankingAct 1959 of the Commonwealth".
12. Children and Young Persons Act 1989
In section 125(1), for "a bank" substitute "an authorised
deposit-taking institution within the meaning of the BankingAct 1959 of the Commonwealth".
13. Confiscation Act 1997
In section 3, for paragraph (b) of the definition of "bank"
substitute—"(b) an authorised deposit-taking institution within the
meaning of the Banking Act 1959 of the
Commonwealth;".
14. Consumer Credit (Victoria) Act 1995
In section 12(1), for paragraph (b) substitute—
"(b) an authorised deposit-taking institution within the
meaning of the Banking Act 1959 of the
Commonwealth; or".
15. Co-operative Housing Societies Act 1958 15.1 In section 3(1), before the definition of "board" insert—
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
| Sch. | Act No. 11/2001 |
' "authorised deposit-taking institution" has the same
meaning as in the Banking Act 1959 of the
Commonwealth;'.
15.2 In sections 12(1)(c), 13(1)(d), 66(3) and 66(4) for "bank"
substitute "authorised deposit-taking institution".
15.3 In section 33(5), for "bank friendly society" (wherever
occurring) substitute "authorised deposit-taking
institution".
15.4 In section 73(1), for "bank" (where twice occurring)
substitute "authorised deposit-taking institution".
15.5 In section 74—
(a)
in paragraph (b), for "bank friendly society" substitute "authorised deposit-taking institution";
(b)
in paragraphs (c), (d) and (e), for "bank" (wherever occurring) substitute "authorised deposit-taking institution".
16. Co-operatives Act 1996
16.1 In section 4(1), after the definition of "association" insert—' "authorised deposit-taking institution" has the same
meaning as in the Banking Act 1959 of the
Commonwealth;'.
16.2 In section 59(1) and (5), for "bank" (wherever occurring)
substitute "authorised deposit-taking institution".
16.3 In sections 359(1) and 368(2)(c), "bank account" substitute
"account with an authorised deposit-taking institution". 16.4 In clause 11(1)(a) of Schedule 4, for "Australian Bank" substitute "authorised deposit-taking institution".
17. County Court Act 1958
In section 21A(1), paragraph (e) is repealed.
18. Credit Act 1984
18.1 In section 5(1)—
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
Act No. 11/2001 Sch.
(a) after the definition of "annual percentage rate" insert— ' "authorised deposit-taking institution" has the same meaning as in the Banking Act 1959 of the Commonwealth;';
(b) the definition of "bank" is repealed.
18.2 In sections 18(2) and 49(2)(c), for "a bank" substitute "an authorised deposit-taking institution".
19. Crown Land (Reserves) Act 1978
In section 14C(1)(a), for "bank" substitute "authorised
deposit-taking institution within the meaning of the BankingAct 1959 of the Commonwealth".
20. Deakin University Act 1974
In section 30(2)(a), for "bank overdraft" substitute
"overdraft with an authorised deposit-taking institution
within the meaning of the Banking Act 1959 of the
Commonwealth".21. Disposal of Uncollected Goods Act 1961
21.1 In section 11(1) and (4), for "a savings bank" substitute "an
authorised deposit-taking institution".21.2 After section 11(4) insert— '(5) In this section—
"authorised deposit-taking institution" has the
same meaning as in the Banking Act 1959 of
the Commonwealth.'.
22. Docklands Authority Act 1991
In section 35A(3)(a), for sub-paragraph (ii) substitute—
'(ii) a guarantee, in a form acceptable to the Authority,
provided by a body that is permitted to use the
expression "bank" under section 66 of the Banking
Act 1959 of the Commonwealth; and'.
23. Environment Protection Act 1970
23.1 In section 4(1), in the definition of "financial institution",paragraph (a) is repealed.
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
| Sch. | Act No. 11/2001 |
23.2 In section 67B(1)—
(a)
in paragraph (a), for "bank" substitute 'body that is permitted to use the expression "bank" under section 66 of the Banking Act 1959 of the Commonwealth';
(b) for paragraph (c) substitute—
'(c) personal guarantees;
(ca) guarantees provided by a body that is permitted
to use the expression "bank" under section 66
of the Banking Act 1959 of the
Commonwealth;'.
24. Estate Agents Act 1980
24.1 In section 4—
(a) after the definition of "approved industry association" insert— ' "authorised deposit-taking institution" has the same meaning as in the Banking Act 1959 of the Commonwealth;';
(b) in the definition of "authorised investment"—
(i) in paragraph (a), for "a bank" substitute "an authorised deposit-taking institution";
(ii) in paragraph (b), for "a bank" substitute "an authorised deposit-taking institution";
(iii) in paragraph (b)(i), for "the bank" substitute "the authorised deposit-taking institution";
(iv) in paragraph (f)(ii), for "a bank" substitute "an authorised deposit-taking institution";
(c) the definition of "bank" is repealed.
24.2 In section 58—
(a) the definition of "building society" is repealed;
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
Act No. 11/2001 Sch.
(b) in the definition of "financial institution", for "a bank or building society" substitute "an authorised deposit-taking institution"; (c) in the definition of "moneys", for "a bank" substitute "an authorised deposit-taking institution".
24.3 In section 59(1)(a)(i), for "trading bank facilities" substitute "facilities of an authorised deposit-taking institution".
24.4 In section 71, in the definition of "moneys", for "a bank"
substitute "an authorised deposit-taking institution".
25. Evidence Act 1958
25.1 In section 3(1), before the definition of "business" insert—' "authorised deposit-taking institution" has the same
meaning as in the Banking Act 1959 of the
Commonwealth;'.
25.2
In section 53J(3)(c), for "a bank as defined in section 5 of the Banking Act 1959 of the Commonwealth as amended from time to time" substitute "an authorised deposit-taking
institution". 25.3 In section 58A—
(a) the definition of "bank" is repealed;
(b) in the definition of "book of account", for "a bank" substitute "an authorised deposit-taking institution".
25.4 In section 107A(1)(u), for "a bank" substitute "an authorised deposit-taking institution".
26. Financial Management Act 1994
26.1 In section 3, after the definition of "accounting records"insert—
' "authorised deposit-taking institution" has the same
meaning as in the Banking Act 1959 of the
Commonwealth;'.
26.2 In section 14, for "bank or banks" substitute "authorised deposit-taking institution or institutions".
26.3 In section 15(1), for "a bank account with a bank or banks"
substitute "an account with an authorised deposit-taking
institution or institutions".26.4 In sections 15(2), (3) and 16, for "a bank account"
substitute "an account".
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
| Sch. | Act No. 11/2001 |
27. Forests Act 1958
In section 50(7), for "bank overdraft" substitute "an overdraft provided by an authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth".
28. Fundraising Appeals Act 1998
In section 27(2)(a), for sub-paragraphs (i), (ii) and (iii) substitute—
"(i) an authorised deposit-taking institution within the
meaning of the Banking Act 1959 of the
Commonwealth; or".
29. Gaming and Betting Act 1994 29.1 In section 121(1)(a)—
(a) omit "bank" (where first occurring);
(b)
for "a bank or banks" substitute "an authorised deposit-taking institution or institutions".
29.2 In section 121(1)(b), for "bank" (where twice occurring)
substitute "authorised deposit-taking institution".
29.3 In section 121(2)(a)—
(a) for "a bank account" substitute "an account";
(b)
for "a bank" (where secondly occurring) substitute "an authorised deposit-taking institution".
29.4 In section 121(2)(b), for "bank" (where twice occurring)
substitute "authorised deposit-taking institution".
29.5 In section 121(3), for "a bank" substitute "an authorised
deposit-taking institution".29.6 After section 121(5) insert—
'(6) In this section—
"authorised deposit-taking institution" has the
same meaning as in the Banking Act 1959 of
the Commonwealth.'.
30. Gaming Machine Control Act 1991
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
Act No. 11/2001 Sch. 30.1 In section 131(1)(a)—
(a) omit "bank" (where first occurring);
(b)
for "a bank" substitute "an authorised deposit-taking institution".
30.2 In section 131(1)(b), for "bank" (where twice occurring)
substitute "authorised deposit-taking institution".
30.3 In section 131(2), for "a bank" substitute "an authorised
deposit-taking institution".30.4 After section 131(4) insert—
'(5) In this section—
"authorised deposit-taking institution" has the
same meaning as in the Banking Act 1959 of
the Commonwealth.'.
31. Gaming No. 2 Act 1997
31.1 In section 3—
(a) after the definition of "amend" insert— ' "authorised deposit-taking institution" has the same meaning as in the Banking Act 1959 of the Commonwealth;';
(b)
the definitions of "bank" and "financial institution" are repealed;
(c)
in the definition of "money", for "bank notes, bank drafts, cheques" substitute "bank notes, cheques, drafts provided by an authorised deposit-taking institution".
31.2
In sections 4(3) and 18(c), for "a financial institution" substitute "an authorised deposit-taking institution".
31.3 In section 89—
(a) in sub-sections (1)(c) and (2), for "a financial
institution" substitute "an authorised deposit-taking
institution";(b) in sub-section (1)(d), for "financial institution" (where
twice occurring) substitute "authorised deposit-
taking institution".
32. Geelong Performing Arts Centre Trust Act 1980
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
| Sch. | Act No. 11/2001 |
32.1 In section 2, before the definition of "centre" insert— ' "authorised deposit-taking institution" has the same
meaning as in the Banking Act 1959 of the
Commonwealth;'.32.2 In section 15(1), for "a bank" substitute "an authorised
deposit-taking institution".32.3 In section 16(1)(a), for "bank" substitute "authorised deposit-taking institution".
33. Guardianship and Administration Act 1986
In section 51(1)(b), for "a bank" substitute "an authorised
deposit-taking institution within the meaning of the BankingAct 1959 of the Commonwealth".
34. Heritage Act 1995
In section 135(2), for "bank" substitute "authorised deposit-
taking institution within the meaning of the Banking Act1959 of the Commonwealth".
35. Hospital Benefits (Levy) Act 1982
In section 8(1)(d) for "bank (including the State Bank of
Victoria)" substitute "authorised deposit-taking institution
within the meaning of the Banking Act 1959 of theCommonwealth".
36. Housing Act 1983
In section 25(4), for "bank accounts" substitute "accounts with an authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth".
37. Intellectually Disabled Persons' Services Act 1986
37.1 In section 3(1), before the definition of "community visitor"
insert—
' "authorised deposit-taking institution" has the same
meaning as in the Banking Act 1959 of the
Commonwealth;'.
37.2 In sections 45(2)(a) and 50(1), for "a bank" substitute "an authorised deposit-taking institution".
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
Act No. 11/2001 Sch. 37.3 In section 50D(2)(e), for "bank or institution" substitute "financial institution".
37.4 In section 50L(3), for "a bank" substitute "an authorised deposit-taking institution".
37.5 In sections 50M(2)(c) and 50P(1), omit "bank".
38. La Trobe University Act 1964
In section 33(2)(a), for "bank overdraft" substitute
"overdraft with an authorised deposit-taking institution
within the meaning of the Banking Act 1959 of theCommonwealth".
39. Legal Practice Act 1996
39.1 In section 3(1), after the definition of "audit year" insert—' "authorised deposit-taking institution" has the same
meaning as in the Banking Act 1959 of the
Commonwealth;'.
39.2 In section 3(1), the definitions of "authorised society", "bank" and "society" are repealed.
39.3 In section 3(1), in the definition of "financial institution"—
(a)
for paragraph (a) substitute— "(a) an authorised deposit-taking institution; or";
(b) paragraph (b) is repealed.
39.4 In section 3(1), in the definition of "nominee mortgage", in
paragraph (a)(ii), for "a bank, a society" substitute "an
authorised deposit-taking institution".
39.5 In section 125—
(a)
in sub-section (5), for "a bank or an authorised society" substitute "an authorised deposit-taking institution";
(b)
in sub-section (6), for "and bank or society" substitute "and authorised deposit-taking institution".
39.6 In section 173(1), for "a bank or an authorised society"
substitute "an authorised deposit-taking institution".
39.7 For section 173(2) substitute—
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
| Sch. | Act No. 11/2001 |
"(2) If one or more arrangements under section 176 are in
effect, a trust account must be established and
maintained in an authorised deposit-taking institution
that is a party to an arrangement with the Board under
that section.".
39.8 In section 173(3), for "bank or society accounts" substitute "authorised deposit-taking institution accounts".
39.9 In section 173, sub-section (4) is repealed.
39.10 In section 173A(1), for "bank or society" substitute
"authorised deposit-taking institution".
39.11 In section 175(1) and (2), for "a bank or an authorised
society" substitute "an authorised deposit-taking
institution".39.12 In section 176(1), for "a bank or society" substitute
"an authorised deposit-taking institution".
39.13 In section 191(1)—
(a)
for "a bank or an authorised society" substitute "an authorised deposit-taking institution";
(b) for "bank or society" substitute "institution".
39.14 In section 191(2)—
(a) for "A bank, an authorised society" substitute "An authorised deposit-taking institution"; (b) for "a bank or an authorised society" substitute "an authorised deposit-taking institution".
39.15 In section 236(3)(b), for "a bank" substitute "an authorised deposit-taking institution".
39.16 In section 251(1) and (3), for "a bank or an authorised
society" substitute "an authorised deposit-taking
institution".39.17 In section 251(4), for "A bank or an authorised society"
substitute "An authorised deposit-taking institution".
39.18 In sections 361(2)(f) and 374(1)(b), for "banks and
societies" substitute "authorised deposit-taking
institutions".
40. Leo Cussen Institute Act 1972
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
Act No. 11/2001 Sch. In section 4(3)(a), for "bank" substitute "authorised
deposit-taking institution within the meaning of the BankingAct 1959 of the Commonwealth".
41. Libraries Act 1988
41.1 In section 3—
(a) before the definition of "Board" insert— ' "authorised deposit-taking institution" has the same meaning as in the Banking Act 1959 of the Commonwealth;';
(b) the definition of "bank" is repealed.
41.2 In section 31(1), for "bank or banks" substitute "authorised deposit-taking institution or institutions".
41.3 In section 31(2), omit "bank".
42. Local Government Act 1989
42.1 In section 3(1)—
(a) after the definition of "auditor" insert— ' "authorised deposit-taking institution" has the same meaning as in the Banking Act 1959 of the Commonwealth;';
(b) the definition of "bank" is repealed.
42.2 In section 138(1), for paragraph (c) substitute—
"(c) with an authorised deposit-taking institution; or". 42.3 In section 143, for "a bank" (wherever occurring) substitute
"an authorised deposit-taking institution".
42.4 In clause 5(1)(d) of Schedule 2, for "bank cheque"
substitute "cheque drawn on account of an authorised
deposit-taking institution".
43. Lotteries Gaming and Betting Act 1966
In section 3, in the definition of "money", for "bank drafts cheques" substitute ", cheques, drafts provided by an authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth".
44. Magistrates' Court Act 1989
44.1 In section 3(1)—(a) after the definition of "appropriate registrar" insert—
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
| Sch. | Act No. 11/2001 |
' "authorised deposit-taking institution" has the same meaning as in the Banking Act 1959 of the Commonwealth;';
(b) the definition of "bank" is repealed.
44.2 In section 138(1)(a), for "a bank" substitute "an authorised deposit-taking institution".
45. Maintenance Act 1965
45.1 In section 3(1), after the definition of "adopted" insert—' "authorised deposit-taking institution" has the same
meaning as in the Banking Act 1959 of the
Commonwealth;';
45.2 In section 40(1), for "bank account or other like account"
substitute "authorised deposit-taking institution account".45.3 In section 102(2), for "a bank" substitute "an authorised deposit-taking institution".
46. Marine Act 1988
46.1 In section 78(2), for "a bank or banks, or building society or
building societies, or both," substitute "any authorised
deposit-taking institution or institutions".46.2 In section 78, for sub-section (3) substitute— '(3) In sub-section (2)—
"authorised deposit-taking institution" has the
same meaning as in the Banking Act 1959 of
the Commonwealth;'.
47. Melbourne and Olympic Parks Act 1985
In section 17, for sub-section (5) substitute—
"(5) The Trust may open and maintain one or more
accounts in the name of the Trust with any authorised
deposit-taking institution within the meaning of the
Banking Act 1959 of the Commonwealth.".
48. Melbourne Market Authority Act 1977
48.1 In section 14(1), for "a bank or banks" substitute
"an authorised deposit-taking institution or institutions
within the meaning of the Banking Act 1959 of theCommonwealth".
48.2 In section 16(1), for "in a bank or banks" substitute "with
an authorised deposit-taking institution or institutions within
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
Act No. 11/2001 Sch. Sch. the meaning of the Banking Act 1959 of the
Commonwealth".49. Melbourne University Act 1958
49.1 In section 32(1)(a), for "bank overdraft" substitute
"overdraft with an authorised deposit-taking institution
within the meaning of the Banking Act 1959 of the
Commonwealth".49.2 In the proviso to section 37(3)(e), for "bank" substitute
"authorised deposit-taking institution within the meaning of
the Banking Act 1959 of the Commonwealth".
50. Mental Health Act 1986
In section 88(1)—
(a) for paragraph (a) substitute— "(a) an authorised deposit-taking institution within
the meaning of the Banking Act 1959 of the
Commonwealth; or";
(b)
in paragraph (b), for "a financial institution" substitute "another financial institution".
51. Monash University Act 1958
In section 32(2)(a), for "bank overdraft" substitute
"overdraft with an authorised deposit-taking institution
within the meaning of the Banking Act 1959 of theCommonwealth".
52. Municipal Association Act 1907
52.1 In section 13—
(a) before the definition of "authorized depositor" insert— ' "authorised deposit-taking institution" has the same meaning as in the Banking Act 1959 of the Commonwealth;';
(b) the definition of "bank" is repealed.
52.2 In section 18(1), for paragraph (b) substitute—
'(b) any loans irrevocably guaranteed or confirmed by a body that is permitted to use the expression "bank" under section 66 of the Banking Act 1959, whether by
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
Act No. 11/2001
direct loan, guarantee, letter of credit or any other
means;'.
52.3 In section 19—
(a)
in paragraph (a), for "bank" substitute "authorised deposit-taking institution";
(b)
in paragraph (b), for "a bank" substitute "an authorised deposit-taking institution".
53. Murray Valley Citrus Marketing Act 1989
In section 39, for "a bank, financial institution" substitute
"an authorised deposit-taking institution within the meaningof the Banking Act 1959 of the Commonwealth".
54. Museums Act 1983
54.1 In section 28(1)—
(a) for "a bank" (where first occurring) substitute meaning of the Banking Act 1959 of the Commonwealth";
(b) for "a bank account" substitute "an account".
54.2 In section 28(2), omit "bank".
55. Patriotic Funds Act 1958
55.1 In section 3(1), before the definition of "Council" insert—' "authorised deposit-taking institution" has the same
meaning as in the Banking Act 1959 of the
Commonwealth;';
55.2 In sections 18(1)(f), 21(1), 23(2A)(v) and 23(2B)(a)(vi), for "bank" (wherever occurring) substitute "authorised deposit- taking institution".
55.3 In section 30, for "banking company" (wherever occurring)
substitute "authorised deposit-taking institution".
56. Port Bellarine Tourist Resort Act 1981
56.1 In section 15(2), for "the State Bank or any other bank or
banks" substitute "any authorised deposit-taking institution
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
Act No. 11/2001 Sch. within the meaning of the Banking Act 1959 of the
Commonwealth".56.2 In section 18(1)(a), for "bank" substitute "authorised
deposit-taking institution within the meaning of the Banking
Act 1959 of the Commonwealth".
57. Port Services Act 1995
In section 80(2), for "a bank guarantee" substitute
'a guarantee provided by a body permitted to use the
expression "bank" under section 66 of the Banking Act1959 of the Commonwealth'.
58. Private Agents Act 1966
58.1 In section 3, before the definition of "commercial agent"insert—
' "authorised deposit-taking institution" has the same
meaning as in the Banking Act 1959 of the
Commonwealth;'.
58.2 In sections 34(1), 34A(1)(a), 34A(2) and 34A(10), for
"a bank" substitute "an authorised deposit-taking
institution".
58.3 In section 35(2)(b), for "bankers" substitute "authorised deposit-taking institutions".
58.4 In section 36—
(a)
in sub-section (1), for "bank" (where first and secondly occurring) substitute "authorised deposit- taking institution";
(b)
in the proviso to sub-section (1), for "a bank" substitute "an authorised deposit-taking institution";
(c)
in sub-section (2), for "a bank" (where first occurring) substitute "an authorised deposit-taking institution";
(d)
in sub-section (2), for "the bank" substitute "the authorised deposit-taking institution";
(e)
in the proviso to sub-section (2), for "a bank" substitute "an authorised deposit-taking institution".
59. Property Law Act 1958
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
| Sch. | Act No. 11/2001 |
59.1 In section 69(3)—
(a) after "his" insert "or her";
(b)
for "any branch bank" substitute "any branch of an authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth".
59.2 In the Third Schedule, in condition 16, for "by a Bank as
defined by the Commonwealth Banks Act 1959 or any Act
amending or replacing that Act or by a Bank established by
an Act of the Parliament of Victoria" substitute "on account
of an authorised deposit-taking institution within the
meaning of the Banking Act 1959 of the Commonwealth".
60. Prostitution Control Act 1994
In section 75(4), for "(being a bank as defined in section 5 of the Banking Act 1959 of the Commonwealth or a bank constituted under a law of a State or a financial body within
the meaning of the AFIC (Victoria) Code)" substitute
"(being an authorised deposit-taking institution within themeaning of the Banking Act 1959 of the Commonwealth)".
61. Queen Victoria Women's Centre Act 1994
In section 16, for "bank or banks within the meaning of the Banking Act 1959 of the Commonwealth or a bank constituted by a law of a State or the Commonwealth" substitute "authorised deposit-taking institution or institutions within the meaning of the Banking Act 1959 of the Commonwealth".
62. Racing Act 1958
In section 48(2)(b), omit "bank".
63. Residential Tenancies Act 1997
63.1 In section 438(1), for "bank accounts at a bank or banks"
substitute "accounts at an authorised deposit-taking
institution or institutions within the meaning of the Banking
Act 1959 of the Commonwealth".63.2 In section 485(5), for "a bank or banks" substitute "an authorised deposit-taking institution or institutions within the meaning of the Banking Act 1959 of the Commonwealth".
64. Retirement Villages Act 1986
64.1 In section 3(1), the definition of "society" is repealed.
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
Act No. 11/2001 Sch.
64.2 In section 25(5)(b) and (7), for "a bank or society"
substitute "an authorised deposit-taking institution within
the meaning of the Banking Act 1959 of theCommonwealth".
65. Royal Melbourne Institute of Technology Act 1992
In section 36(2)(aaa), for "bank overdraft" substitute
"overdraft with an authorised deposit-taking institution
within the meaning of the Banking Act 1959 of theCommonwealth".
66. Rural Finance Act 1988
In section 22(1)(a), for "bank" substitute "authorised
deposit-taking institution within the meaning of the Banking
Act 1959 of the Commonwealth".67. Sale of Land Act 1962 67.1 In section 2(1)—
(a) after the definition of "arbitrator" insert— ' "authorised deposit-taking institution" has the same meaning as in the Banking Act 1959 of the Commonwealth;';
(b) the definition of "society" is repealed.
67.2 In section 9AA—
(a)
in sub-section (1)(a)(ii), for "a bank or society" substitute "an authorised deposit-taking institution";
(b)
in sub-section (2)(b) and (4), for "bank or society" substitute "authorised deposit-taking institution";
(c) in sub-section (6), omit "banking".
67.3 In section 25—
(a)
in sub-section (1)(b), for "a bank or society" substitute "an authorised deposit-taking institution";
(b)
in sub-section (3), for "bank or society" substitute "authorised deposit-taking institution".
68. Securities Industry Act 1975
68.1 In section 4(1)—(a) after the definition of "arbitrage transaction" insert—
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
| Sch. | Act No. 11/2001 |
' "authorised deposit-taking institution" has the same meaning as in the Banking Act 1959 of the Commonwealth;';
(b) in the definition of "bankers books", for "a banker" (wherever occurring) substitute "an authorised deposit-taking institution"; (c) in the definition of "investment adviser", for "(a) an authorised deposit-taking institution;".
68.2 In section 58(1)(c), for "dealer's bankers" substitute
"an authorised deposit-taking institution".
68.3 In section 59—
(a)
in sub-section (1), for "a bank or banks" substitute "an authorised deposit-taking institution or institutions";
(b) in sub-section (2), for "bank" substitute "institution";
(c)
in sub-section (5), for "bank cheque, bank draft or money order" (where twice occurring) substitute "a cheque drawn on account of an authorised deposit-
taking institution, a draft provided by an authorised
deposit-taking institution or a money order".
68.4 In section 60—
(a)
in sub-section (4), for "banker" substitute "authorised deposit-taking institution";
(b) in sub-section (5)—
(i) for "banker" (where twice occurring) substitute "authorised deposit-taking institution";
(ii) for "bank cheque" substitute "cheque drawn on account of an authorised deposit-taking institution".
68.5 In section 69, omit "bank".
68.6 In section 70—
(a)
for "a banker, the banker" substitute "an authorised deposit-taking institution, the institution";
(b)
in paragraph (a), for "bank" (wherever occurring) substitute "authorised deposit-taking institution".
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
Act No. 11/2001 Sch. 68.7 In section 71(b), for "bank" substitute "authorised deposit- taking institution".
68.8 In section 83(1), for paragraph (a) substitute—
"(a) on interest bearing term deposit in an authorised deposit-taking institution; or".
68.9 In section 88, for "a bank" substitute "an authorised
deposit-taking institution".
68.10 In section 129(4), for "a banker of the defendant" substitute
"an authorised deposit-taking institution with which the
defendant has an account".
69. Stamps Act 1958 69.2 In section 137N(1)—
(a) in paragraph (c)(iv), for "a bank" substitute "an authorised deposit-taking institution"; (b) in paragraph (c)(vi), for "a bank or a registered building society" substitute "an authorised deposit- taking institution"; (c) in paragraph (c)(vi)(A), for "bank, society" (where taking institution";
(d) for paragraph (e) substitute—
'(e) "authorised deposit-taking institution" has the same meaning as in the Banking Act 1959 of the Commonwealth; and'.
69.3 In section 144(4), for "a bank or branch bank" substitute
"an authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth or a branch of such an institution".
69.4 In the Third Schedule, in Heading XXII, for exemption (2)
substitute—
'(2) Any mortgage bond debenture or covenant made or
given by—
(a)
a body that is permitted to use the expression "credit union" under section 66 of the Banking Act of the Commonwealth; or
(b) a registered co-operative society.'.
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
| Sch. | Sch. | Act No. 11/2001 |
70. State Sport Centres Act 1994
For section 29 substitute—
"29. AccountsThe Trust may open and maintain one or more accounts in the name of the Trust with any authorised deposit-taking institution or institutions within the meaning of the Banking Act 1959 of the Commonwealth.".
71. Supreme Court Act 1986
71.1 In section 113—(a) in sub-section (4), paragraph (a) is repealed;
(b) in sub-section (19)—
(i) in paragraph (a), omit "; or";
(ii) paragraph (b) is repealed;
(c)
in sub-section (24), for "bank" substitute "authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth";
(d)
in sub-section (25), for "banks" substitute "authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth";
(e)
in sub-section (26), omit "or the State Bank of Victoria".
71.2 In section 128(1), paragraph (d) is repealed.
72. Swinburne University of Technology Act 1992
In section 41(2)(a), for "bank overdraft" substitute
"overdraft with an authorised deposit-taking institution
within the meaning of the Banking Act 1959 of the
Commonwealth".73. Taxation Administration Act 1997
73.1 In section 117(1)(a), for "bank cheque" substitute "cheque drawn on account of an authorised deposit-taking institution".
73.2 In section 117(3)(a), for "bank" substitute "authorised deposit-taking institution".
73.3 After section 117(5) insert—
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
Act No. 11/2001 Sch. '(6) In this section—
"authorised deposit-taking institution" has the
same meaning as in the Banking Act 1959 of
the Commonwealth.'.
74. Tertiary Education Act 1993
74.1 In section 12G, for "bank" substitute "authorised deposit- taking institution".
74.2 At the end of section 12G insert—
'(2) In this section—
"authorised deposit-taking institution" has the
same meaning as in the Banking Act 1959 of
the Commonwealth.'.
75. The Constitution Act Amendment Act 1958
In section 159(1)(c), for paragraphs (ii) and (iii)
substitute—"(ii) by cheque drawn on account of an authorised deposit-
taking institution within the meaning of the Banking
Act 1959 of the Commonwealth.".
76. Tobacco Act 1987
In section 32, for sub-section (5) substitute—
"(5) The Foundation may, with the approval of theMinister administering Part 7 of the Financial accounts with an authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth.".
77. Tourism Victoria Act 1992
77.1 In section 24(1)(a), for "a bank" substitute "an authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth".
77.2 In section 24(2), omit "in a bank".
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
| Sch. | Act No. 11/2001 |
78. Transfer of Land Act 1958
78.1 In section 77(3)(d), for "a bank" substitute "an authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth".
78.2 In the Seventh Schedule, for condition 16 of Table A
substitute—
"16. Any payment due under this contract may be made or tendered either in cash or by a draft or cheque drawn on account of an authorised deposit-taking institution within the meaning of the Banking Act 1959 of the
Commonwealth.".
79. Transport Accident Act 1986
In section 27(6), for "any bank or banks" substitute
"any authorised deposit-taking institution or institutions
within the meaning of the Banking Act 1959 of the
Commonwealth".80. Transport Act 1983
80.1 In section 66(2), for "the State Bank of Victoria or any other
bank or banks" substitute "any authorised deposit-taking
institution or institutions within the meaning of the Banking
Act 1959 of the Commonwealth".80.2 In section 76(1), for "bank" substitute "authorised deposit- taking institution within the meaning of the Banking Act 1959 of the Commonwealth".
81. Trustee Act 1958
81.1 In section 3(1)—
(a) before the definition of "authorized dealer in the short term money market" insert—
' "authorised deposit-taking institution" has the same meaning as in the Banking Act 1959 of the Commonwealth;';
(b) the definition of "bank" is repealed.
81.2 In section 3A(8), for "a bank" substitute "an authorised deposit-taking institution".
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
Act No. 11/2001 Sch. 81.3 In section 28(3), for "bank" substitute "of an authorised deposit-taking institution".
82. Trustee Companies Act 1984
82.1 In section 4(1)—
(a) for the definition of "bank" substitute— ' "authorised deposit-taking institution" has the same meaning as in the Banking Act 1959 of the Commonwealth;';
(b) in the definition of "financial institution", for "(a) an authorised deposit-taking institution;".
82.2 In sections 32(1), 34(3), 37(1) and 41(2), for "a bank"
(wherever occurring) substitute "an authorised deposit-
taking institution".
83. Unclaimed Moneys Act 1962
83.1 In section 6(2), for "bank" substitute "authorised deposit- taking institution within the meaning of the Banking Act 1959 of the Commonwealth".
83.2 In section 7, for "bank" substitute "authorised deposit- taking institution".
84. University of Ballarat Act 1993
In section 34(2)(a), for "bank overdraft" substitute
"overdraft with an authorised deposit-taking institution
within the meaning of the Banking Act 1959 of theCommonwealth".
85. Victims of Crimes Assistance Act 1996
In section 70(1), for paragraph (a) substitute—
"(a) on deposit with an authorised deposit-taking
institution within the meaning of the Banking Act
1959 of the Commonwealth; or".
86. Victoria University of Technology Act 1990
Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
| Sch. | Act No. 11/2001 |
In section 37(2)(aaa), for "bank overdraft" substitute
"overdraft with an authorised deposit-taking institution
within the meaning of the Banking Act 1959 of the
Commonwealth".87. Victorian Arts Centre Act 1979
87.1 In section 7(1)(a), for "bank" substitute "authorised
deposit-taking institution within the meaning of the Banking
Act 1959 of the Commonwealth".
87.2 In section 16(2A), for "bank or banks" substitute
"authorised deposit-taking institution or institutions within
the meaning of the Banking Act 1959 of theCommonwealth".
88. Victorian College of the Arts Act 1981
In section 30(1)(a), for "bank overdraft" substitute
"overdraft with an authorised deposit-taking institution
within the meaning of the Banking Act 1959 of theCommonwealth".
89. Victorian Debt Retirement Fund Act 1990
In section 3, the definition of "bank" is repealed.
90. Western Metropolitan Market Act 1938
In section 13, for "banks" substitute "any authorised
deposit-taking institution within the meaning of the BankingAct 1959 of the Commonwealth".
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Statute Law Amendment (Authorised Deposit-taking
Institutions) Act 2001
Act No. 11/2001 Endnotes
ENDNOTES
†
Minister's second reading speech—
Legislative Assembly: 2 November 2000
Legislative Council: 4 April 2001
The long title for the Bill for this Act was "to amend specified Acts so as
to permit non-bank financial institutions to provide banking services to
bodies regulated by statute and for other purposes."
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