Commonwealth legislation

Banking (Gold) Regulations (Repeal)

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

19 of 1976

Collection

legislative instrument

Plain English Summary

1/10 complexity

What this does

This instrument repeals (removes from law) six earlier sets of regulations that governed how banks dealt with gold. These older rules — made in 1960, 1964, 1966, 1970, 1971, and 1974 — are completely deleted from the statute books.

Why it matters

This is law housekeeping. The repealed regulations likely imposed requirements on banks regarding gold reserves, gold trading, or gold transactions. Removing them simplified banking regulation and likely reflected the global shift away from gold-based monetary systems in the 1970s.

Who is affected

Banks: Freed from specific gold-related compliance obligations under these six rule sets
Customers: Any remaining restrictions on gold-related banking services were removed

In simple terms

This is the legislative equivalent of shredding old filing cabinets. The government removed six outdated rulebooks about gold banking that were no longer needed.

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Current sections

Direct links to the current provisions in Banking (Gold) Regulations (Repeal).

Banking (Gold) Regulations (Repeal)

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Commonwealth Coat of Arms of Australia

Statutory Rules

1976 No. 19

REGULATION UNDER THE BANKING ACT 1959-1974.*

I, THE ADMINISTRATOR of the Government of the Commonwealth of Australia, acting with the advice of the Executive Council, hereby make the following Regulation under the Banking Act 1959-1974.

Dated this thirtieth day of January, 1976.

A. R. CUTLER

Administrator.

By His Excellency’s Command,

PHILLIP LYNCH

Treasurer.

Repeal of the Banking (Gold) Regulations

Repeal.

The following Statutory Rules are repealed:—

Statutory Rules 1960, No. 9;

Statutory Rules 1964, No. 97;

Statutory Rules 1966, No. 158;

Statutory Rules 1970, No. 135;

Statutory Rules 1971, No. 125; and

Statutory Rules 1974, No. 88.

Notified in the Australian Government Gazette on 30 January 1976.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.