Cheques and Payment Orders Amendment Act 1998 (Cth)

Cheques and Payment Orders Amendment Act 1998

No. 76, 1998

Cheques and Payment Orders Amendment Act 1998

No. 76, 1998

An Act to amend the Cheques and Payment Orders Act 1986, and for related purposes

Contents 1 Short title..................................1 2 Commencement..............................1 3 Schedule(s).................................3

Schedule 1—Amendment of the Cheques and Payment Orders Act 1986 allowing cheques to be drawn on financial institutions and abolishing payment orders 4

Part 1—Main amendments 4

Part 2—Consequential amendments 8

Part 3—Transitional provisions 21

Schedule 2—Other amendments of the Cheques and Payment Orders Act 1986 22

Schedule 3—Amendment of other Acts 31 Bills of Exchange Act 1909 31 Debits Tax Administration Act 1982 31

Cheques and Payment Orders Amendment Act 1998

No. 76, 1998

An Act to amend the Cheques and Payment Orders Act 1986, and for related purposes

[Assented to 2 July 1998]

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Cheques and Payment Orders Amendment Act 1998.

2 Commencement

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

(2) Subject to subsection (3), the items in Schedule 1, other than item 27 and items 70 to 82, and the items of Schedules 2 and 3, commence on a day to be fixed by Proclamation.

(3) If the items to which subsection (2) applies do not commence under that subsection within the period of 6 months beginning on the day on which this Act receives the Royal Assent, they commence on the first day after the end of that period.

(4) Items 27, 70 to 78, 81 and 82 of Schedule 1 commence as follows: (a) if item 6 of Schedule 1 to the Cheques and Payment Orders Amendment (Turnback of Cheques) Act 1998 (in this subsection and subsection (5) referred to as the Turnback Act) commences on or before the commencement of the items to which subsection (2) applies—items 27, 70 to 78, 81 and 82 of Schedule 1 commence on the later of the following times: (i) immediately after the commencement of item 6 of Schedule 1 to the Turnback Act; (ii) the commencement of the items to which subsection (2) applies; (b) if item 5 of Schedule 1 to the Turnback Act commences on or before the commencement of the items to which subsection (2) applies and paragraph (a) does not apply—items 27, 70 to 78, 81 and 82 of Schedule 1 commence on the later of the following times: (i) immediately after the commencement of item 5 of Schedule 1 to the Turnback Act; (ii) the commencement of the items to which subsection (2) applies; (c) if item 5 of Schedule 1 to the Turnback Act commences after the commencement of the items to which subsection (2) applies and item 6 of Schedule 1 to the Turnback Act commences immediately after the commencement of item 5 of that Schedule—items 27, 70 to 78, 81 and 82 of Schedule 1 commence immediately after the commencement of item 6 of Schedule 1 to the Turnback Act; (d) if item 5 of Schedule 1 to the Turnback Act commences after the commencement of the items to which subsection (2) applies and paragraph (c) does not apply—items 27, 70 to 78, 81 and 82 of Schedule 1 commence immediately after the commencement of item 5 of Schedule 1 to the Turnback Act.