Document ID: chunk:federal_register_of_legislation:C2004A04760:body:0:p7
Version: federal_register_of_legislation:C2004A04760
Segment Type: other
Provision Reference: 
Character Range: 15094–17682

the purposes of subsection 62(9); and

      (b) 'exhibition' as the means, or one of a number of means, by which communications may be made to the bank at that place;

   the place is a designated exhibition place in relation to the cheques for the purposes of that subsection.

   "(2C) A time is a designated time for the bank at a particular place if the time is covered by the specification of the days on which, and the hours during which, the bank will be open for business at that place.

   "(2D) A means of communication is a designated means of communication for the bank at a particular place if the notice specifies the means as a means by which communications may be made to the bank at that place.";

(e) by adding the end the following subsection:

   "(4) If the notice is varied or revoked, the Gazette notice of the variation or revocation must specify a day as the day on which the variation or revocation takes effect. The specified day must not be earlier than 30 days after the date of the Gazette notice of variation or revocation.".

Insertion of new section

18. After section 65 of the Principal Act the following section is inserted:

Internal presentment of cheques by banks—notified places

"65A.(1) The object of this section is to identify notified places for the purposes of the rules about internal presentment of cheques by banks.

"(2) A bank may, by written notice, specify a place as a notified place in relation to cheques for the purposes of this Act. The notice must be given to the eligible authority.

Note: Subsection (6) defines 'eligible authority'.

  "(3) The notice must specify:

  (a) one or more of the following, namely:

        (i) the cheques in relation to which the place is to be a notified place for the purposes of subsection 62A(1);

        (ii) the cheques in relation to which the place is to be a notified place for the purposes of subsection 62A(3);

        (iii) the cheques in relation to which the place is to be a notified place for the purposes of subsection 62A(4); and

    (b) the days on which, and the hours during which, the bank will be open for business at the place.

"(4) If the notice is varied or revoked, the notice of variation or revocation must specify a day as the day on which the variation or revocation takes effect. The specified day must not be earlier than 30 days after the notice of variation or revocation is given to the eligible authority.

"(5) The regulations may make provision for and in relation to the keeping of a register of notices under this section by the eligible authority.