CANNED FRUITS EXPORT MARKETING (BANKING) REGULATIONS.
Statutory Rules 1964, No. 32.(a)
Citation.
1. These Regulations may be cited as the Canned Fruits Export Marketing (Banking) Regulations.
Definition.
2. In these Regulations, “the Act” means the Canned Fruits Export Marketing Act 1963.
Signing of cheques.
3. Cheques drawn on an account referred to in section twenty-nine of the Act shall be signed—
(a) in the case of an account maintained with a bank other than a bank in the United Kingdom—
(i) by any two members of the Board; or
(ii) by any two of the following, namely, a member of the Board, the Secretary to the Board, and the Chief Clerk to the Board; and
(b) in the case of an account maintained with a bank in the United Kingdom—by any two of the following, namely, the Representative of the Board in the United Kingdom, the Senior Clerk to the Board in London and the Agricultural Representative of the Department of Primary Industry in London.
(a) Made under the Canned Fruits Export Marketing Act 1963 on 27 February, 1964; notified in the Commonwealth Gazette on 5 March, 1964.
Overview
The Canned Fruits Export Marketing (Banking) Regulations 1964 were enacted to address specific banking and financial management requirements for the export marketing of canned fruits as stipulated by the Canned Fruits Export Marketing Act 1963. This legislative instrument was made under the authority of the Commonwealth Parliament to ensure that the financial transactions associated with the export of canned fruits are conducted in a manner that adheres to the provisions of the Act. The Regulations aim to establish clear protocols for the signing of cheques on accounts related to the export marketing of canned fruits, ensuring proper authorisation and oversight of financial activities.
The policy objective behind these Regulations is to maintain the integrity and accountability of financial operations involved in the export of canned fruits, thereby supporting the overall objectives of the Canned Fruits Export Marketing Act 1963. By specifying the signatories required for cheques drawn on relevant accounts, the Regulations help to prevent unauthorised transactions and ensure that financial dealings are conducted with the appropriate level of authorisation from designated officials. This legislative measure thus plays a crucial role in the effective and regulated management of the export marketing activities for canned fruits.
Scope and Application
The Canned Fruits Export Marketing (Banking) Regulations, 1964, are subsidiary legislation made under the Canned Fruits Export Marketing Act 1963. These Regulations primarily govern the signing of cheques drawn on accounts maintained by the Board for the purposes of exporting canned fruits, as stipulated in section twenty-nine of the Act. The scope of the Regulations applies to the Board and its authorised representatives, specifically concerning banking transactions related to the export of canned fruits. Geographically, these Regulations cover accounts maintained both within Australia and in the United Kingdom, with specific requirements for signing cheques depending on the location of the bank. There are no stated exclusions or exemptions within the text provided, and the application is limited to the conditions specified regarding cheque signing as per the Act. Any further extension or restriction of application is likely to be addressed through subordinate instruments or additional regulations under the overarching Act.
Key Provisions
The Canned Fruits Export Marketing (Banking) Regulations 1964 (Regulations) provide specific requirements for the signing of cheques drawn on accounts related to the export marketing of canned fruits. Section 3 of the Regulations outlines that cheques drawn on accounts maintained with banks outside the United Kingdom must be signed by any two members of the Board, or by any two of the following: a member of the Board, the Secretary to the Board, and the Chief Clerk to the Board. Conversely, cheques drawn on accounts maintained with banks in the United Kingdom must be signed by any two of the following: the Representative of the Board in the United Kingdom, the Senior Clerk to the Board in London, and the Agricultural Representative of the Department of Primary Industry in London.
These Regulations impose clear obligations on the parties involved in the export marketing of canned fruits. Specifically, they mandate that cheques drawn on designated accounts must be signed by the specified individuals as outlined in section 3. This requirement ensures that there is a level of oversight and authorisation in the signing of cheques, thereby providing a safeguard against fraudulent activities. The designated signatories must ensure that the correct procedures are followed to maintain the integrity of financial transactions related to the export of canned fruits.
Failure to comply with the signing requirements set out in the Regulations can result in significant consequences. Although the Regulations do not explicitly state specific offences, penalties, or consequences for breach, it is reasonable to infer that any non-compliance with these requirements could lead to legal ramifications under the Canned Fruits Export Marketing Act 1963. Given that the Act and the Regulations are designed to regulate and oversee the financial aspects of canned fruit exports, breaches could potentially result in financial penalties, legal action, or other sanctions deemed appropriate by the relevant authorities. The exact penalties would be determined in the context of the broader legislative framework and any applicable common law principles.