Banking Legislation Amendment Act 1989 (Cth)

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