Document ID: chunk:federal_register_of_legislation:C2004A03877:front:0:p16
Version: federal_register_of_legislation:C2004A03877
Segment Type: other
Provision Reference: 
Character Range: 38187–41136

DISTINCTION BETWEEN SAVINGS BANKS AND TRADING BANKS

Amendment of Acts
52. The Acts specified in Schedule 4 are amended as set out in that Schedule.

                   SCHEDULE 1 Subsection 23 (1)
SCHEDULE TO BE SUBSTITUTED FOR THE FIRST SCHEDULE TO THE BANKING ACT 1959

                 "FIRST SCHEDULE Sections 5 and 9

PART I—TRADING BANKS
Australia and New Zealand Banking Group Limited
Australian Bank Limited
Bankers Trust Australia Limited
Bank of America Australia Limited
Bank of China
Bank of New Zealand
Bank of Queensland Limited
Bank of Singapore (Australia) Limited
Bank of Tokyo Australia Limited
Banque Nationale de Paris
Barclays Bank Australia Limited
Chase AMP Bank Limited
Citibank Limited
Deutsche Bank Australia Limited
Hongkong Bank of Australia Limited
IBJ Australia Bank Limited
Lloyds Bank NZA Limited
Macquarie Bank Limited
Mitsubishi Bank of Australia Limited
National Australia Bank Limited
National Mutual Royal Bank Limited
NatWest Australia Bank Limited
Primary Industry Bank of Australia Limited
Standard Chartered Bank Australia Limited
Westpac Banking Corporation

PART II—SAVINGS BANKS

Advance Bank Australia Limited
Australia and New Zealand Savings Bank Limited
Bank of New Zealand Savings Bank Limited
Bank of Queensland Savings Bank Limited
Challenge Bank Limited
Citibank Savings Limited

SCHEDULE 1—continued
Civic Advance Bank Limited
Metway Bank Limited
National Australia Savings Bank Limited
National Mutual Royal Savings Bank Limited
The Hobart Savings Bank
Westpac Savings Bank Limited".

                   SCHEDULE 2 Section 25

AMENDMENTS OF THE BANKING ACT 1959 RELATING TO OFFENCES
PART I
Sections 7, 8, 9, 10, 11, 14, 16, 33, 36, 62, 63, 64 and 69 are amended by omitting the penalties.
PART II
Section 49:
Repeal the section.

Paragraph 50 (1) (b):
Omit "and".

Subsection 50 (1):
Add at the end the following word and paragraph:
         "; and (d) prescribing penalties, for offences against the regulations, not exceeding:
            (i) if the offender is a natural person—a fine of $5,000; or
            (ii) if the offender is a body corporate—a fine of $25,000.".

Subsection 50 (2):
Omit the subsection.

Paragraph 63a (2) (a):
Omit "Two thousand dollars", substitute "$100,000".

Subsection 69 (10):
Omit "provision of this section which", substitute "of the requirements of subsections (3), (4), (5) and (7) that".

SCHEDULE 2—continued

After section 69:
Insert the following sections:

Offences
"69a. (1) A person who contravenes a provision of this Act specified in column 1 of the table at the end of this section:
    (a) if the contravention continues beyond the end of the day on which it commenced—is guilty of an offence in respect of each day during the whole or a part of which the contravention continues (including the day of conviction for any such offence or any later day); or
    (b) in any other case—is guilty of an offence.
"(2) A person who contravenes a