Commonwealth Banks (Allowances) Regulations

Overview

The Commonwealth Banks (Allowances) Regulations 1975, made under the Commonwealth Banks Act 1959-1974, were introduced to standardise and regulate the allowances payable to certain officers of the Commonwealth Banking Corporation and its subsidiary banks, as well as members of the Commonwealth Banking Corporation Board. Enacted by the Governor-General with the advice of the Executive Council, these regulations provide a structured approach to allowances for employees who undertake duties outside their usual place of residence or outside Australia, ensuring consistency with public service standards. The regulations were designed to address the need for clear guidelines on allowances, thereby supporting the effective functioning of the Commonwealth Banking Corporation and its boards while maintaining alignment with broader public service remuneration practices.

Scope and Application

The Commonwealth Banks (Allowances) Regulations 1975 establish provisions under the Commonwealth Banks Act 1959-1974, specifying allowances for certain officers and board members of the Commonwealth Banking Corporation. These regulations apply to the Managing Director and other specified officers of the Commonwealth Banking Corporation, as well as to members of the Commonwealth Banking Corporation Board, including those who were in office immediately before the commencement of the Commonwealth Banks Act 1974. The allowances cover travelling expenses and other remuneration, with specific rates set for travelling allowances when officers are necessarily absent overnight from their normal residence while performing duties. Furthermore, officers performing duties outside Australia and the external Territories are entitled to allowances equivalent to those payable to the Permanent Head of the Department of the Treasury. The regulations provide clarity on the financial entitlements of these officials, ensuring they receive compensation commensurate with their roles and responsibilities within the Commonwealth Banking Corporation.

Key Provisions

The main operative sections of these Regulations include provisions for travelling allowance, other allowances, and allowances in respect of service outside Australia. Firstly, Regulation 4 provides for a travelling allowance of $34 per day for certain specified office holders who are necessarily absent overnight from the city in which they normally reside while performing their duties. Regulation 5 provides for a similar travelling allowance for existing members of the Commonwealth Banking Corporation Board. Regulation 6 provides for other allowances, such as allowances other than travelling allowance, to be paid to certain office holders at rates equivalent to those payable to the Permanent Head of the Department of the Treasury or to officers of the Australian Public Service included in the Second Division, as applicable. Regulation 7 provides for allowances to be paid to office holders who perform their duties outside Australia and the external Territories, at rates equivalent to those payable to the Permanent Head of the Department of the Treasury or to officers of the Australian Public Service included in the Second Division, as applicable. The Regulations impose certain obligations and requirements on the parties or entities they govern. Office holders who are entitled to allowances under the Regulations must be necessarily absent overnight from the city in which they normally reside while performing their duties to be eligible for a travelling allowance. Additionally, office holders who perform their duties outside Australia and the external Territories must do so to be eligible for allowances in respect of service outside Australia. Failure to meet these requirements may result in the disallowance of allowances. Any breach of the Regulations may result in civil or criminal consequences, including penalties. However, the Regulations do not explicitly state any penalties for breach. It is likely that any breach would be dealt with under the relevant provisions of the Commonwealth Banks Act 1959-1974, which may include fines or imprisonment. The maximum penalties for breach of the Act are not specified in the Regulations.