The Savings Bank Branches Act 1907 (SA)

ANNO SEPTIMO

EDWARDI V11 REGIS.

B.D. 1907.

No. 92,5.

An Act to amend " The Savings Bank Amendment Act,

1903," and for other purposes.

[ A s s e ~ z t e d to, N o v e ~ ~ z b e v zoth, 1907.1

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

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

1. This Act may be cited as " The Savings Bank Bizanches Act, Short title and incor-

1907," and, except so far as inconsistent with " The Savings Bank P ~ ~ ~ ~ ~ ~ .

Act of 1875 " (hereinafter called " the principal Act "1, or " 'l'he

immediate gorernment, at such places within the State as they shall mentarp powers.

select, as many branches of the Bank as they shall determine, and to

appoint and empower such officers, clerks, and servants as they shall

think

Savings Bank krnendment Act, 1903 " (hereinafter called " the

amending Act "), shall be incorporated and read as one with them.

2. The word " prescribed " shall mean prescribed by the Trustees Interpretation.

by minute, order, or rules.

3, Section 19 of the amending Act is hereby amended by adding Truetees not to invest

the following words at the end thereof :-" Provided that the otherthan gouth funds of Bank in

Trustees shall not inwst the funds of the Bank in any securities of ~ustralian securities

under certain

or ggaranteed by any other State in the Commonwealth of Australia, circumstances.

unless by any such investment they can obtain a higher rate of Amendment of sec.l9

interest or greater advantages than could be obtained by investment of Act 824 of 1903.

in securities of or guaranteed by the Government of South Australia,

and which are available at the time of such investment."

4. The Trustees are hereby empowered to establish, under their Powerto establish branches : supple-

7 O EDWARDI VII, No. 925.

The Savings Bank Branches Act.-1907.

think proper or necessary to transact such business of the Bank as the Trustees shall entrust to them, and to direct that the business of any existing or future agency of the Bank shall be transacted with any branch thereof, and to at will rescind or vary such direction. Every branch ofice of the Bank shall be an authorised office for the receipt and repayment of deposits, and for the keeping of depositors' accounts.

Power to asaign

duties and make	5. The Trustees may give such subordinate powers and assign such duties as they may think fit to the officers, clerks, and servants of the Bank at kach'branch office thereof, and may make such general, special, and other orders as they shall think fit for the management, guidance, government, conduct, and information of such officers, clerks, and servants, and of the depositors, agents of Bank, and other persons who deposit money or transact business at or with any branch office of the Bank.
orders.
Payment into and

withdrawal from 6, The words "in Adelaide," in the fourteenth section of the

other banks of amending Act are hereby repealed, and the words " or branches

rnone rnceived at thereof in the State " are substituted for them, and that section shall

branc offices. K henceforward be read and construed accordingly; and thc Trustees of the Bank may make arrangements that all moneys received at any branch offick shall be p a d into some other ~ & k, or branch thereof, approved by the Trustees, and shall be mithdrnwn therefrom in such a manner as shall be determined by them.

Audit of accounts of	7. The Trustees may, from time to time, by minute of the Hoard, appoint some fit and proper person or persons as auditor or auditors to jointly or separately examine the accounts of each and any branch office of the Bank, and the deposit-books of the depositors whose accounts are kept at such branch. The auditor or anditors appointed as above shall report, whenever called upon to do so, to
branch offices.
the auditors appointed under section 43 of the principal Act.
sum8 of not less-than

Power to receive 8. The Trustees are hereby empowered to establish in connection

One Penny, and to	with the Bank a Department, to be designated '' The Penny Hank
appoint agents for
such purpoee.	Department," for the receipt (notwithstanding any provisions of the said Acts) by way of deposit in that Department from or for the use or benefit of any person (hereinafter called a depositor) of any sum of money of not less than One Penny, and to appoint by minute of the Board any one or more persons to be, at such place or places in the State as the Board may determine, the agent or agents. of the Bank for the receipt and repayment of such deposits, and to revoke by minute any such appointments, and to make such rules as they may think fit for the guidance and control of the agents and depositors, and for the proper conduct of such Department.

Trustees may close	Q,	The Trustees may at any time close-
brenchee or egenciea.

(a ) Any branch of the Bank:

( b ) The Penny Bank Department, or any agency thereof.

10. Notwithstanding

7' EDWARDI VII, No. 925.

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The Savings Bank Branches Act.- 1907.

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10. Notwithstanding any provisions of the said Acts, the Trustees may repay to any depositor in "The Penny Bank Department" the whole or any portion of the moneys received by way of deposit from him or for his use or benefit: Provided that such depositor shall sign his name to a form provided by the Trustees for the withdrawal of such deposit or portion thereof.

11. The Trustees may enter into arrangements with any Savings Transfer of deposits

Bank authority in the United Kingdom of Great Britain and Ireland, Ssvinga from or to other

or in any State of the Commonwealth, or in any other British cr. rEdw. vrr., c. s,

possession, or in any other country- 8. 12.

(U) For the transfer, on such terms and conditions as may be prescribed, of any money standing in the books of such a, Sayings Bank to the credit of depositors therein from it to "the Bank" or from " the Bank" to such a Savings Bank:

(6) For the payment, on such terms and conditions as may be prescribed, of any money standing in the books of such a Savings Bank to the credit of depositors therein to them through the agency of " the Bank," and for the payment,

on such terms and conditions as may be prescribed, of any

money standing in the books of " the ljank" to the credit of depositors therein to them through the agency of such a Savings Bank.

12, The 'l'rustees may, whenever necessary, appropriate from the Applicationof Reserve Fund

Reserve Fund such sum or sums of money as may be requisite for	depreciatiom
the purpose of meeting depreciations in investments.

13. In addition to the societies, trades unions, and employers' Depoeits by

unions, corporations, and councils authorised by the amending Act unregiae"d

to deposit moneys with the Trustees of the Bank, it shall be lawful-

for all trades unions and employers' unions, whether legally registered or not, to so deposit the moneys of such trades unions and employers'	unions subject to the same conditions as apply to the ordinary de-
positors of the Hank.

I n the name and on behalf of His Majesty, I hereby assent to

this Bill.

GEORGE R. LE HUNTE, Governor.

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Adeldde: By authority, C. E. BRI~TOW, Government Printar, North Terrace.