The Savings Bank Act Further Amendment Act 1912 (SA)

ANNO TERTIO

GEORGIl V REGIS.

A.D. 1912.

No. 1083.

An Act to further amend " T h e Savings Bank Act of 1875 " and the Acts amending that Act, and for other purposes.

[Assented to, November rgth, iprz.]

E it Enacted by the Governor of the State of South Australia,

follows: B with the advice and consent of the Parliament thereof, as

1, (1) This Act may be cited alone as " The Savings Bank Act short title.'

Further Amendment Act, 191%"

(2) " The Savings Bank Act of 1875 " (hereinafter called " the NO. 22 of 1873.

principal Act "), " The Savings Bank Amendment Act, 1902, " SO. 824 1903.

(hereinafter called " the amending Act "), " The Savings Bank NO. 925 1907.

Branches Act, 1907 " (hereinafter called " the Branches Act "), and

this Act, may be cited together as '' The Savings Bank Acts, 1875

to 1912."

2, This Act is incorporated with the other Acts mentioned in Incorporation with

section 1 of this Act, and those Acts and this Act shall be read as	Actat".
one Act.

3, Section 14 of the principal Act, sections 9 and 2 '1 of the Repeal.

amending Act, and section 3 of the Branches Act are hereby

repealed.

4. Section 23 of the principal Act is hereby amended by adding Amendmentof wetion 23 of principal Act-

at the end thereof the words " or to an agent or assistant agent	deposits may be
authorized by the trustees to accept depoaits without regard to time made.

and place." 5. Section

3" GEORGII V, No. 1083.

The Sawings Bank Act Purther A d m e n t Act.-1912.

P- p. U - - --

Amendmerlt of sectiot

31 of the principal 5, Section 31 of the principal Act is hereby amended by striking

Act-Interest on	out all the words after the word " July " in the sixth line thereof to
deposit.	the end of the section.
Amendment of section

39 of the principal 6. Section 39 of the principal Act is hereby amended-

Act -	Execution of	I. By striking out the words "	three or more" in the sixth
deeds.

line thereof and substituting the word	two " therefor;
and

11. Hy inserting after the words " assistant accountant" in the seventh line thereof the words " or, in the absence of both the manager and the accountant, by such other officer as the trustees from time to time appoint in that behalf."

Amendment of ~ection

41 of the principal 7, Section 41 of the principal Act is hereby amended by striking

Act-Preparation of	out the word " two" in the first line thereof and substituting the
Balance. sheets.	word three" thcrefor.
Further amendment

of section 4 1 - 8, Section 31 of the principal Act is hereby further amended

Balance-sheet to be	by adding the following words :-"	Such balance-sheet shall within
laid before

Parliament.	fourteen days after the making thereof if Parliament is then sitting, and if Parliament be not sitting, then within fourteen days after the next sitting of Parliament, be laid before Parliament."
Amendment of
section 43 - Audit of	Q, Section 43 of the principal Act is amended by adding the following proviso thereto :-Provided that the Governor may at any
accounts.
Cf. Tramways Act,	time cause the accounts of the Bank to be audited by the Com-
1906, B. 27.	missioner of Audit or any other person appointed by the Governor; and the said Commissioner or person so appointed shall for the purpose of such audit and accounts have all the powers for the time being vested by law in the Commissioner of Audit in relation to the audit of public accounts."

Amendment of 10, Section 14 of the amending Act is hereby amended-

aection 14 of amend

ing Act-Receipt of

deposit8 by agents. I. By inserting after the word " officer " in the first line thereof the words agent or assistant agent !';

XI. By inserting after the word Bank " in the fifteenth

line thereof the words or at some other place with an agent or assistant agent duly authorized to accept deposits at places other than authorized offices or agencies "; and

Counter-signing

I I r. By inserting after the word " Hank " in the twen ty-fonrth line thereof the words or, in the absence of both the manager and the accountant, such other officer as the trustees from time to time appoint in that behalf."

orders.

Amendment of section

19 of amending Act- 11, Section 19 of the amending Act is hereby amended-

Securities on which	I.	By inserting after the word "or '' in the fourth line thereof
Bank's fonda may be

invested. the words " of orguaran teed by the Government"; and

rr. By

3' GEORGII V, No. 1083.

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The Savings Bank Act Further Amend& Act.-1912.

I I. By adding thereto the following :-

(, f ' ) The bonds, debentures, mortgages, or other securi-

ties of any District Council in the State:

(g) Any bonds, debentures, mortgages, or other securi- ties puparanteed by any District Cormcil or Municipal Corporation in the State, whether severally or jointly with others:

( h ) Any bonds, debentures, mortgages, or other securi- ties of or guaranteed by any Board, Commis- sioners, or local authority in the State constituted by Act of Parliament:

Provided that the trustees shall not illvest any funds of the Bank in any security of or guaranteed by the Government of any other State in the Commonwealth of Australia without first giving the Government of South Australia the option of selling them securities for such funds at a rate and on conditions which are not less favorable than those appl!ing at the time in respect of the said security of or guaranteed by the Government of such other State.

1s. Section 22 of the amended Act is hereby amended- Amendment of section 22 of amending Act-

I. By inserting after the word " rate " in the fifteenth line Interests On depo~ite-

thereof the words " or rates "; and

11. By striking out all the words after the word

" succeeding " in the nineteenth line thereof to the

end of the section.

13. The trustees may, from time to time, of their own Truateeamnyestablish agencies and appoint

authority- agents.

( n ) Establish agencies in any places in the State, or abolish

any such agencies:

( 6) Authorize and appoint any person, firm, company, institution, corporation, or (with the consent of the Governor) any Government official to act as agent or assistant agent of the Bank for the receipt and repayment of deposits or for the receipt of deposits only, and such agents and assistant agents may have fixed places of business or not as determined by the trustees:

(c) Revoke any appointment made as aforesaid:

( d ) Pay to any such agent or assistant agent such remuneration,

allowance, or commission as they determine:

( e ) Make and issue such general or other orders and rules as they

think fit for carrying into effect the objects and intention of this section. The provisions of section 13 of the principal Act shall not apply to such orders and rules.

14. (l) Wherever

4 3" GEORGII V, No. 1083.

The Savings Bank Act Further Amendment Ad.-1912. -

Beoeipts and 14. (1) Wherever it is provided in the principal Act or the

amending Act that the trustees shall take a receipt signed by a de- positor for money withdrawn by him from the Bank, it shall be sufficient if, in lieu of such receipt, the depositor signs an order on the Bank in such form as the trustees from time to time provide.

(2) The accounts of friendly societies *and all other societies, unions, and local authorities may, in the discretion of the trustees, be drawn upon by cheque in such form and subject to such conditions as the trustees from time to time direct.

Trust~ee	may	16. The trustees may from time to time prescribe the amount upon which interest shall he paid to depositors, together with the
prescr~be	interest.

N.S.W.* ''OG

a. 39.

rate of interest thereon, and such interest may be at differential rates

according to the amount of the deposit.

Power to

ref uae deporits. 16, The trustees may dirrct that no deposit shall be received

from any person whom they may deem it inexpedient to admit or

Ibid., S. 35.	continue as a depositor, and that any deposit previously made by such a person shall be returned to him. After a deposit has been directed to be returned no interest shall accrue in respect of such deposit.
Meetings of
the Board.	17. The trustees shall meet at least once in each week for the transaction of business except during the last week of the month of December. And whenever the chairman of trustees and the manager consider that, in consequence of pressure of business, i t is necessary to hold more than one meeting in any week, then upon the direction of the chairman and manager an extra meeting shall be called.

Truatres' fees. l&, Each trustee shall be paid a fee of Two Pounds TWO Shillings

for each meeting attended by him at which a quorum is present: Provided that the trustee presiding throughout a meeting shall be

state Treasury may	receive more than two fees for rrieetings held in any one week. paid s fee of 'l'hree Pounds Three Shillings, and that no trustee shall
make deposita good.	19. If at any time the funds created by the investment of deposits are insufficient to meet the lawful claims of all depositors, the
N - s. w. ~ A c t 4 8 ~ 1 9 0 6 9	Treasurer, with the consent of the Governor, may pay the amount
B. 44.

Vic., Act 1481, 1896, of the deficiency out of the General Reveuue of the State; which 0. 16. Revenue is hereby appropriated so far as may be necessary for that

purpose.

In the name and on behalf of His Majesty, 1 hereby assent to

this Bill.

DAY H. UOSANQUET, Governor.

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Adelaide : By authority, R. E. E. Roams, Government Printer, North Terrace.