Commonwealth Consolidated Acts Commonwealth Consolidated ActsNote: See section 250.
1 Alternative constitutional basis
(1) Without limiting its effect apart from this clause, this Act also has effect as provided by this clause.
Limited types of designated services
(2) This Act also has the effect it would have if subclause (3) had not been enacted and each reference in this Act to a designated service were, by express provision, confined to a designated service where:
(a) the designated service consists of:
(i) issuing a bill of exchange or a promissory note; or
(ii) in the capacity of agent of a person, acquiring or disposing of a bill of exchange, or a promissory note, on behalf of the person; or
(b) both:
(i) the provision of the designated service involves a transaction; and
(ii) the transaction involves the transfer of physical currency from one person to another; or
(c) the customer of the designated service is a constitutional corporation; or
(d) the designated service is provided by a constitutional corporation; or
(e) the designated service is provided in the course of, or in relation to, any of the following:
(i) trade or commerce between Australia and places outside Australia;
(ii) trade or commerce among the States;
(iii) trade or commerce within a Territory, between a State and a Territory or between 2 Territories;
(iv) the supply of goods or services to the Commonwealth or an authority or instrumentality of the Commonwealth; or
(f) the designated service is provided in the course of, or in relation to, banking to which paragraph 51(xiii) of the Constitution applies; or
(g) the designated service is provided in the course of, or in relation to, insurance to which paragraph 51(xiv) of the Constitution applies; or
(h) the designated service is provided using a postal, telegraphic, telephonic or other like service (within the meaning of paragraph 51(v) of the Constitution); or
(i) the designated service is provided:
(i) in a Territory; or
(ii) in a Commonwealth place; or
(iii) in a foreign country; or
(j) the designated service is provided by a person:
(i) at or through a permanent establishment of the person in a Territory; or
(ii) at or through a permanent establishment of the person in a Commonwealth place; or
(iii) at or through a permanent establishment of the person in a foreign country.
Note: See also subclause (6) (extended meaning of permanent establishment ).
Administration and enforcement of taxation laws and other laws
(3) This Act also has the effect it would have if:
(a) subclause (2) had not been enacted; and
(b) this Act did not apply except to the extent to which it:
(i) facilitates the administration or enforcement of taxation laws; or
(ii) facilitates the administration or enforcement of laws of the Commonwealth or of the Territories (other than taxation laws).
Cross - border movements of bearer negotiable instruments
(4) Division 2 of Part 4 and section 199, so far as they relate to a monetary instrument that is a bearer negotiable instrument, also have the effect they would have if they were, by express provision, confined to a bearer negotiable instrument that is:
(a) a bill of exchange; or
(b) a promissory note.
Correspondent banking
(5) Part 8 and section 117 also have the effect they would have if:
(a) each reference in section 95 to another person were, by express provision, confined to another person that is:
(i) a constitutional corporation; or
(ii) an individual who is physically present in a foreign country; and
(b) each reference in section 95 or 96 to another financial institution were, by express provision, confined to another financial institution that is:
(i) a constitutional corporation; or
(ii) an individual who is physically present in a foreign country.
Extended meaning of permanent establishment
(6) For the purposes of paragraph (2)(j) of this clause:
(a) subsection 21(2) has effect as if each reference in that subsection to a country included a reference to:
(i) a Territory; and
(ii) a Commonwealth place; and
(b) ignore subsection 21(3).