Commonwealth Banks Act 1959 (Cth)

Commonwealth Banks Act 1959

No. 5, 1959

Compilation No. 10

Compilation date: 24 June 2023

Includes amendments up to: Act No. 28, 2023

Registered: 12 July 2023

About this compilation

This compilation

This is a compilation of the Commonwealth Banks Act 1959 that shows the text of the law as amended and in force on 24 June 2023 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents Part I—Preliminary 1 Short title 2 Commencement 4 Interpretation 5 Application to Territories 6 This Act subject to Banking Act Part IV—The Commonwealth Bank Division 1—Preliminary steps before conversion of Commonwealth Bank into a public company 27A Share capital of Commonwealth Bank 27B Shares to be paid up and issued 27C Commonwealth Bank to apply to be registered as company etc. Division 2—Conversion of Commonwealth Bank into a public company 27D Commonwealth Bank taken to be registered under Companies Act 27E Memorandum and articles of Commonwealth Bank 27F Membership of the Commonwealth Bank 27G Name of the Commonwealth Bank 27H Commonwealth Bank is not a Commonwealth authority or Commonwealth company etc. 27J Operation of section 25B of Acts Interpretation Act Division 4—Miscellaneous 28 General functions of Commonwealth Bank Part VII—The Commonwealth Development Bank 74A Preliminary steps to conversion of Development Bank into a company 74B Conversion of Development Bank into a company 74C Development Bank is not a Commonwealth authority or Commonwealth company etc. Part VIII—The Commonwealth Bank Officers Superannuation Corporation 108A Preliminary steps to conversion of Corporation into a company 108B Conversion of Corporation into a company 108C Corporation is not a Commonwealth authority or Commonwealth company etc. 110 Superannuation fund Part IX—Miscellaneous 117 Guarantee by the Commonwealth 129 Regulations Endnotes Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history An Act relating to the constitution and operations of the Commonwealth banks