Commonwealth legislation

Cheques Act 1986 - Determination No. 1 of 2004

In ForceCTH

Jurisdiction

Commonwealth

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legislative instrument

Plain English Summary

3/10 complexity

The RBA has formally declared the Australian Paper Clearing System (APCS) a “recognised settlement system” under the Cheques Act. The short, administrative determination takes effect on Gazette notification but is a disallowable instrument to be tabled in Parliament and may be annulled; the RBA also retains the power to review it. The instrument itself sets no fees, duties or operational rules — any legal effects arise from the Cheques Act and related rules.

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Cheques Act 1986 - Determination No. 1 of 2004

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	DETERMINATION under the CHEQUES ACT 1986

Determination No 1 of 2004

The RESERVE BANK OF AUSTRALIA makes the following determination under section 70A(4) of the Cheques Act 1986:

The Australian Paper Clearing System (APCS) is hereby determined to be a recognised settlement system in terms of the Cheques Act.
This approval is a disallowable instrument under section 46A of the Acts Interpretation Act 1901 and, accordingly, is being tabled before each House of the Commonwealth Parliament.
Subject to disallowance, this determination will take effect from the date of notification in the Gazette.
This determination may be reviewed from time to time.

Signed

IJ Macfarlane Governor Reserve Bank of Australia

18 August 2004

Source text

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