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Banking Legislation Amendment Act 1989

No. 129 of 1989

TABLE OF PROVISIONS

PART I—PRELIMINARY
Section
      1. Short title
      2. Commencement
PART II—AMENDMENT OF THE BANKING ACT 1959
      3. Principal Act
      4. Interpretation
      5. Authority to carry on banking business
      6. Insertion of new Division:
Division 1a—Prudential Supervision and Monitoring of Banks
           11a. Prudential requirements may be prescribed by the regulations
           11b. Reserve Bank to monitor prudential matters
           11c. Division not to limit operation of other provisions
      7. Supply of information
      8. Banks unable to meet obligations
      9. Indemnity
      10. Assets of banks
      11. Repeal of Division 3 of Part II and substitution of new Division:

TABLE OF PROVISIONS—continued
Section
Division 3—Non-callable Deposits
           17. Interpretation
           18. Base for calculating deposits—eligible assets or eligible liabilities
           19. Daily eligible assets or eligible liabilities of banks—averaging provision
           20. Determination of non-callable deposit ratios
           21. Non-callable Deposit Account
           22. Banks to maintain non-callable deposits
           23. Penalty for failure to maintain non-callable deposits
           24. Interest to be paid on Non-callable Deposit Accounts
           25. Repayments from Non-callable Deposit Accounts
      12. Advance policy
      13. Repeal of Division 6 of Part II
      14. Control of interest rates
      15. Repeal of Part VI and substitution of new Part:
PART VI—COLLECTION AND PUBLICATION OF INFORMATION ABOUT BANKS
           51. Collection and publication of information about banks
           52. Secretary to the Department of the Treasury may request copies of information given to the Reserve Bank
      16. Repeal of section 61 and substitution of new section:
           61. Reserve Bank to conduct investigations where Governor considers necessary
      17. Supply of information
      18. Settlement of balances between banks
      19. Repeal of sections 66 and 67 and substitution of new sections:
           66. Restriction on use of word "bank" etc.
           67. Restriction on establishment or maintenance of representative offices of overseas banks
      20. Unclaimed moneys
      21. Insertion of new section:
           70a. Delegation by Treasurer
      22. Regulations
      23. First Schedule
      24. Repeal of Second Schedule
      25. Amendments relating to offences
      26. Formal amendments
      27. Transitional—non-callable deposit ratios
      28. Transitional—abolition of distinction between savings banks and trading banks
PART III—AMENDMENT OF THE COMMONWEALTH BANKS ACT 1959
      29. Principal Act
      30. Capital
      31. Insertion of new section:
           30a. Transfers from reserves to capital
      32. Commonwealth Bank Reserve Fund
      33. Insertion of new section:
           33. Crediting of amounts to Commonwealth Bank Reserve Fund
      34. General functions of Savings Bank
      35. Share capital
      36. Amalgamation of other banks with Commonwealth Savings Bank
      37. Repeal of section 53
      38. Commonwealth Development Bank Reserve Fund
      39. Repeal of section 77
      40. Insertion of new section:
           78. Crediting of amounts to Commonwealth Development Bank Reserve Fund
      41. Agents etc.
      42. Annual reports and financial statements
      43. Transitional—Depositors' Unclaimed Fund

TABLE OF PROVISIONS—continued

Section

PART IV—AMENDMENT OF