FINANCIAL INSTITUTIONS DUTY REGULATIONS AMENDMENT (2000 NO 39) 

- TABLE OF PROVISIONS

1. Commencement  
2. Regulations amended  
3. Substitution  
4. Non-dutiable receipts  

FINANCIAL INSTITUTIONS DUTY REGULATIONS AMENDMENT (2000 NO 39)
- REG 1
Commencement
     These regulations are taken to have commenced on 1 July 2000. 

FINANCIAL INSTITUTIONS DUTY REGULATIONS AMENDMENT (2000 NO 39)
- REG 2
Regulations amended
     These regulations amend the Financial Institutions Duty Regulations. 

FINANCIAL INSTITUTIONS DUTY REGULATIONS AMENDMENT (2000 NO 39)
- REG 3
Substitution
     Regulation 1 is repealed and the following regulation substituted: 
"1      Name of regulations 
These regulations are the Financial Institutions Duty Regulations
1990.".

FINANCIAL INSTITUTIONS DUTY REGULATIONS AMENDMENT (2000 NO 39)
- REG 4
Non-dutiable receipts
     Regulation 2A is amended-- 
         (a)     by omitting subregulation (1) and substituting the following
subregulation:
"(1)      For paragraph 6 (2) (s) of the Act, the following
receipts are prescribed as non-dutiable receipts:
         (a)     a receipt of money by a registered financial institution that holds an
exchange settlement account with the Reserve Bank of Australia for the credit of
a person's account kept by it if--
               (i)     the person is not a registered financial institution; and
               (ii)     the account is used solely for recording Real Time Gross Settlement
system transactions; and
               (iii)     the balance of the account is transferred to another account of the
person kept by the same financial institution on a daily basis; and
               (iv)     there is in force an instrument signed by the commissioner
identifying the account to be an account used solely for recording Real Time
Gross Settlement system transactions;
         (b)     a receipt of money resulting from the direct credit of a prescribed
payment to an account kept by a financial institution."; and
         (b)     by inserting in subsection (2) the following definitions:
direct credit happens if the entity making the payment pays
it directly to the financial institution and the financial institution credits
the payment to an account nominated by the person for whom the payment is
intended.
"family assistance law"--see the A New Tax System
(Family Assistance) (Administration) Act 1999 (Cwlth), subsection 3
(1).
"prescribed payment" means--
         (a)     a payment under a family assistance law; or
         (b)     a payment under the A New Tax System (Bonuses for Older
Australians) Act 1999 (Cwlth).".

1     Republished as in force on 30 November 1992.  See also Act 1998 No 35; SL
1998 No 33.
2     Notified in Gazette 2000 No 41 on 12 October 2000.

(c) Australian Capital Territory
2003

FINANCIAL INSTITUTIONS DUTY REGULATIONS AMENDMENT (2000 NO 39)
- NOTES

Australian Capital
Territory

The Australian Capital Territory Executive makes the following regulations
under the Financial Institutions Duty Act 1987.
    Dated 28 September 2000.
GARY HUMPHRIES Minister
BRENDAN SMYTHMinister