BANKING (SAVINGS BANKS) REGULATIONS (AMENDMENT) 1986 NO. 392 

BANKING (SAVINGS BANKS) REGULATIONS (AMENDMENT) 1986 NO. 392 
- TABLE OF PROVISIONS

1. Principal Regulations  
2. Banks with which savings banks may deposit money  
3. Persons from whom savings banks not to accept deposits  


1986 No. 392 BANKING (SAVINGS BANKS) REGULATIONS (AMENDMENT)
- REG 1
Principal Regulations


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


1986 No. 392 BANKING (SAVINGS BANKS) REGULATIONS (AMENDMENT)
- REG 2
Banks with which savings banks may deposit money


  2. Regulation 4 of the Principal Regulations is amended by omitting
sub-regulation (1) and substituting the following sub-regulation:
  "(1) A savings bank may in the course of carrying on banking business in
Australia, place money on deposit with or lend money to -
  (a) a savings bank that is a wholly owned subsidiary of the firstmentioned
savings bank;
  (b) a savings bank of which the first-mentioned savings bank is a wholly
owned subsidiary; or
  (c) any bank other than a savings bank that is not a savings bank referred
to in paragraph (a) or (b).".


1986 No. 392 BANKING (SAVINGS BANKS) REGULATIONS (AMENDMENT)
- REG 3
Persons from whom savings banks not to accept deposits


  3. Regulation 6 of the Principal Regulations is amended by adding at the end
the following words and paragraphs:
"other than -
    (a) a savings bank that is a wholly owned subsidiary of the
firstmentioned savings bank; or
    (b) a savings bank of which the first-mentioned savings bank is
a wholly owned subsidiary.".


- NOTES


1986 No. 392*1* BANKING (SAVINGS BANKS) REGULATIONS*2* (AMENDMENT)



*1*Notified in the Commonwealth of Australia Gazette on 12 January 1987.
*2*Statutory Rules 1960 No. 6 as amended to date. For previous amendments see
Note 2 to Statutory Rules 1986 No. 303 and see also Statutory Rules 1986 No.
303.