Document ID: chunk:federal_register_of_legislation:C2004A04484:body:0:p6
Version: federal_register_of_legislation:C2004A04484
Segment Type: other
Provision Reference: 
Character Range: 12800–15750

(1) the definition of "the Deputy Governor";

   (b)     by inserting in subsection (1) the following definition:

     " 'Deputy Governor' means a Deputy Governor of the Bank;".

Management of the Bank

  24. Section 12 of the Principal Act is amended:

    (a)    by omitting from subsection (1) "a Deputy Governor" and substituting "2 Deputy Governors";

    (b)    by omitting from subsection (3) "The Deputy Governor" and substituting "A Deputy Governor";

    (c)     by inserting in subsection (3) "designated by the Treasurer" after "Deputy Governor" (second occurring).

Membership of Board

25. Section 14 of the Principal Act is amended by omitting from paragraph (1)(b) "Governor" and substituting "Governors".

Remuneration of members

26. Section 15 of the Principal Act is amended by omitting from subsection (4) "the Deputy Governor" and substituting "a Deputy Governor".

Chairperson and Deputy Chairperson

27. Section 20 of the Principal Act is amended by inserting in subsection (1) "designated by the Governor" after "Deputy Governor".

Exclusion of Governor and Deputy Governor from certain deliberations

  28. Section 21A of the Principal Act is amended:

    (a)     by omitting from subsection (1) "the Deputy Governor" (first occurring) and substituting "the Deputy Governors";

    (b)    by omitting from subsection (1) "the Deputy Governor" (last occurring) and substituting "a Deputy Governor";

    (c)     by omitting from subsection (2) "Deputy Governor" and substituting "Deputy Governors".

Governor and Deputy Governor

29. Section 24 of the Principal Act is amended by omitting "Deputy Governor" and substituting "Deputy Governors".

Terms and conditions of employment not provided for by Act

30. Section 24A of the Principal Act is amended by omitting "Deputy Governor" and substituting "Deputy Governors".

Vacation of Office

31. Section 25 of the Principal Act is amended by omitting "the Deputy Governor" and substituting "a Deputy Governor".

Signature on notes

32. Section 37 of the Principal Act is amended by omitting from subsection (1) "or an officer of the bank" and substituting ", or an officer of the bank,".

Audit

33. Section 80 of the Principal Act is amended by omitting from subsection (6) "the Deputy Governor" and substituting "a Deputy Governor".

Information relating to remuneration of Governor and Deputy Governors

34. Section 81A of the Principal Act is amended by omitting from paragraph (2)(b) "Deputy Governor" and substituting "Deputy Governors".

Certain liabilities of State Bank Limited to be paid in priority to debts due to Reserve Bank

35.(1) In spite of section 86 of the Principal Act, in the event of a winding-up of State Bank Limited while it is a bank specified in the First Schedule to the Banking Act 1959, the liabilities of State Bank Limited under the State Bank debentures are to be paid in priority to any debt due to the Reserve Bank by State Bank Limited.