Document ID: chunk:federal_register_of_legislation:C2004A04745:body:0:p4
Version: federal_register_of_legislation:C2004A04745
Segment Type: other
Provision Reference: 
Character Range: 8668–11494

THE PROCEEDS OF CRIME ACT 1987

 66. Object of Part
 67. Principal Act
 68. Insertion of new sections:
            78A. Active bank accounts transferred to another bank—obligations of banks in relation to documents
            78B. Closed bank accounts transferred to another bank—obligations of banks in relation to documents

PART 3.4—AMENDMENT OF THE RESERVE BANK ACT 1959

 69. Object of Part
 70. Principal Act
 71. Termination of appointment
 72. Insertion of new section:
            18A. Leave of absence
 73. Application
 74. Transitional—pre-commencement grant of leave of absence

Banking (State Bank of South Australia
and Other Matters) Act 1994

No. 69 of 1994

An Act relating to banking

[Assented to 9 June 1994]

     The Parliament of Australia enacts:

CHAPTER 1—PRELIMINARY

  Short title

  1. This Act may be cited as the Banking (State Bank of South Australia and Other Matters) Act 1994.

  Commencement

  2.(1) Subject to this section, this Act commences on the day on which it receives the Royal Assent.

  (2) Part 2.1 (other than subsections 5(2) and 6(2)) commences on a day to be fixed by Proclamation. The day must not be earlier than the day on which the State Bank (Corporatisation) Act 1994 of South Australia commences.

(3) If the provisions referred to in subsection (2) do not commence within the period of 6 months beginning on the day on which the State Bank (Corporatisation) Act 1994 of South Australia commences, they commence on the first day after the end of that period.

(4) Subsections 5(2) and 6(2) commence on a day to be fixed by Proclamation.

CHAPTER 2—PROVISIONS TO FACILITATE THE RESTRUCTURING OF THE STATE BANK OF SOUTH AUSTRALIA

PART 2.1—AMENDMENT OF THE BANKING ACT 1959

Object of Part

3. The object of this Part is to facilitate the restructuring of the State Bank of South Australia by subjecting the successor of that Bank (Bank of South Australia Limited) to regulation under the Banking Act 1959.

Principal Act

  4. In this Part, "Principal Act" means the Banking Act 19591.

Interpretation

5.(1) Section 5 of the Principal Act is amended by inserting in the definition of "bank" in subsection (1) "Bank of South Australia Limited," after "includes".

(2) Section 5 of the Principal Act is amended by omitting from the definition of "bank" in subsection (1) "Bank of South Australia Limited,".

Application of Act

  6.(1) Section 6 of the Principal Act is amended:

    (a) by omitting from subsection (1) "subsection (1A)" and substituting "subsections (1A) and (1B)";

  (b) by inserting after subsection (1A) the following subsection:

     "(1B) Part II (other than Division 1), Part V and sections 61, 62, 64, 65, 68 and 69 apply to Bank of South Australia Limited.

        Note: The matter of State banking in so far as it applies