BANKING (SAVINGS BANKS) REGULATIONS (AMENDMENT) 1984 NO. 168 

BANKING (SAVINGS BANKS) REGULATIONS (AMENDMENT) 1984 NO. 168 
- TABLE OF PROVISIONS

1. Commencement  
2. Principal Regulations  
3. Investment of funds of savings banks  
4. Repeal of regulation 6A  
5.  


1984 No. 168 BANKING (SAVINGS BANKS) REGULATIONS (AMENDMENT)
- REG 1
Commencement


  1. These Regulations shall come into operation on 1 August 1984.


1984 No. 168 BANKING (SAVINGS BANKS) REGULATIONS (AMENDMENT)
- REG 2
Principal Regulations


  2. In these Regulations, "Principal Regulations" means the Banking (Savings
Banks) Regulations.


1984 No. 168 BANKING (SAVINGS BANKS) REGULATIONS (AMENDMENT)
- REG 3
Investment of funds of savings banks


  3. Regulation 5 of the Principal Regulations is amended by omitting
sub-regulations (3) and (4) and substituting the following sub-regulation:
  "(4) On and after 1 July 1983, a savings bank shall at all times maintain
in-
  (a)  investments of the kinds specified in paragraphs (2) (a), (c) and (d);
and
  (b)  loans to authorized dealers in the short-term money market secured by
securities issued by the Commonwealth,
an amount that, together with cash on hand in Australia, is not less than 15
per cent of the amount on deposit in Australia with the Savings Bank.".


1984 No. 168 BANKING (SAVINGS BANKS) REGULATIONS (AMENDMENT)
- REG 4
Repeal of regulation 6A


  4. Regulation 6A of the Principal Regulations is repealed.


1984 No. 168 BANKING (SAVINGS BANKS) REGULATIONS (AMENDMENT)
- REG 5


  5. Regulation 7 of the Principal Regulations is repealed and the following
regulation substituted:
Persons who may draw cheques on accounts maintained with a savings bank
  "7. A person authorized to operate on an account maintained with a savings
bank may be permitted by the bank to draw cheques on that account.".


- NOTES


1984 No. 168*1* BANKING (SAVINGS BANKS) REGULATIONS*2* (AMENDMENT)



*1* Notified in the Commonwealth of Australia Gazette on 31 July 1984.
*2* Statutory Rules 1960 No. 6 as amended by 1962 No. 58; 1963 No. 80; 1966
No. 69; 1970 No. 167; 1974 No. 155; 1977 Nos. 63, 86, 87 and 196; 1978 No.
160; 1982 No. 206.