South Australian Consolidated Acts South Australian Consolidated Acts (1) In this Act,
unless the contrary intention appears—
"ADI" means an authorised deposit-taking institution within the meaning of the
Banking Act 1959 of the Commonwealth;
"approved government instrumentality" means—
(a) an
instrumentality or agency of the Crown in right of the State; or
(b) a
department of the Government of the State,
declared by the Treasurer, by notice in the Gazette, to be an approved
government instrumentality for the purposes of this Act;
"bill of exchange" means an unconditional order in writing, addressed by one
person to another, signed by the person giving it, requiring the person to
whom it is addressed to pay, on demand or at a fixed or determinable future
time, a sum certain in money, to or to the order of a specified person or to
bearer;
"books" includes financial records of any kind (whether in documentary or
other form);
"cash" means money in the form of cash, bills of exchange or a combination of
cash and bills of exchange;
"cash delivery company" means a company the principal business of which
is—
(a) the
collection, transportation and delivery of cash; or
(b) the
preparation and delivery of pay-rolls;
"charitable organisation" means a body established on a non-profit basis for
charitable, religious, educational or benevolent purposes and includes a
trustee who holds property on behalf of such a body;
"Commissioner" means the person appointed or acting as the Commissioner of
State Taxation, and includes a person appointed or acting as a Deputy
Commissioner of State Taxation (see Part 9 of the Taxation Administration
Act 1996 );
"company" means a body corporate or an unincorporated association (including a
partnership);
"corporation" has the same meaning as is assigned to the term by section 9 of
the Corporations Law ;
"deal" has the same meaning as is assigned to the term by section 9 of the
Corporations Law in relation to securities, and
"dealing" has a corresponding meaning;
"dealer in securities" has the same meaning as is assigned to
the term "dealer" by section 9 of the Corporations Law ;
"exempt account" means—
(a) a
Government Department account;
(b) a
short-term dealing account;
(c) a
special account;
(d) a
sweeping account;
"financial institution" means—
(a) an
ADI; or
(b) a
person whose sole or principal business is the provision of finance; or
(c) a
dealer in securities; or
(d) a
trustee company; or
(e) a
management company within the meaning of section 9 of the Corporations Law
that carries on business in South Australia; or
(f) a
pastoral finance company; or
(g) the
Public Trustee,
but does not include the Reserve Bank of Australia or a person declared by or
under this Act not to be a financial institution;
"financial institutions duty" means duty payable under section 29, 30 or
76;
"Government Department account" means an account kept by a
financial institution in respect of which a notice given under section 35
is in force;
"money" includes a bill of exchange and a promissory note;
"pastoral finance company" means a person carrying on a business of financing
pastoral pursuits or a business of stock or station agents to whom an order in
force under section 11 of the Banking Act 1959 of the Commonwealth
applies;
"person" includes a company;
"the prescribed percentage", in relation to money received by a
financial institution, means—
(a)
where the money is received by the financial institution before 1 October,
1990—0.04 per cent;
(b)
where the money is received by the financial institution on or after 1 October
1990 and before 1 June 1993—0.1 per cent;
(c)
where the money is received by the financial institution on or after 1 June
1993—0.065 per cent;
"promissory note" means an unconditional promise in writing made by one person
to another, signed by the maker, arranging to pay, on demand or at a fixed or
determinable future time, a sum certain in money, to or to the order of a
specified person or to bearer;
"receipt" includes a payment, repayment, deposit or subscription and the
crediting of an account;
"registered financial institution" means—
(a) a
financial institution that is registered under this Act; or
(b) a
financial institution that, under section 62, is taken to be a
registered financial institution;
"registered short-term money market operator" means a person registered as a
short-term money market operator under this Act;
"the relevant amount" means—
(a) in
relation to any month before October 1990—$1 000 000;
(b) in
relation to any month from October 1990 to May
1993—$1 200 000;
(c) in
relation to any month from June 1993—$1 846 154;
"return period", in relation to a financial institution or a
registered short-term money market operator, means a period in respect of
which the financial institution or registered short-term money market operator
is required to furnish a return under this Act;
"rollover" in relation to a term deposit means the renewal with or the
retention by a financial institution of the whole or part of the term deposit
(either at call or for a further specified period) at the end of the specified
period for which the term deposit was previously made;
"securities" has the same meaning as is assigned to the term by section 9 of
the Corporations Law ;
"share" includes stock;
"short-term dealer" means—
(a) a
corporation that, under section 65(1)(a) of the Corporations Law is declared
to be an authorised dealer in the short-term money market; or
(b) a
body corporate in respect of which a declaration under section 9 is, or
is taken to be, in force;
"short-term dealing account" means an account kept by an ADI in respect of
which a certificate issued by the Commissioner under section 32 is in
force;
"special account" means an account kept by an ADI in respect of which a
certificate issued by the Commissioner under section 31 or 34 is in
force;
"sweeping account" means an account kept by an ADI in respect of which a
certificate issued under section 33 is in force;
"term deposit" means a deposit of money with a financial institution for a
specified period, or a specified period and then at call, in relation to which
deposit the financial institution, instead of crediting a current account kept
by the financial institution, issues a certificate of deposit or similar
record of deposit;
"trustee company" means—
(a) a
company upon which power to act as trustee has been conferred by an Act of
Parliament of a State; or
(b) a
prescribed company or a company of a prescribed class;
"voting share" has the same meaning as is assigned to the term by section 9 of
the Corporations Law .
(2) A reference in
this Act to the provision of finance includes a reference to—
(a) the
borrowing of money or the obtaining of other financial accommodation,
including the issue of share capital by a building society or credit union;
(b) the
dealing in—
(i)
securities; or
(ii)
bills of exchange; or
(iii)
promissory notes; or
(iv)
certificates of deposit; or
(v)
any matter or thing prescribed for the purposes of this
paragraph;
(c) the
lending of money, with or without security;
(d) the
purchase, acquisition, discounting or factoring of debts due to another
person.
(3) In this Act, a
reference to carrying on a business of a particular kind includes reference to
carrying on that business in the course of, as part of, incidentally to, or in
connection with, the carrying on of another business.
(4) For the purposes
of this Act, the value of a bill of exchange or a promissory note will be
taken to be its nominal or face value.
(5) Where money is
received or a liability incurred in a currency other than the currency of
Australia, the amount of that receipt or liability is, for the purposes of
this Act, the equivalent amount in the currency of Australia calculated at a
rate of exchange that was a relevant ruling telegraphic transfer buying rate
of exchange in Australia on the day on which the money was received or the
liability incurred.