1Cheques Regulations 1987

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Cheques Regulations 1987

Statutory Rules 1987 No. 130 as amended

made under the

Cheques Act 1986

This compilation was prepared on 6 June 2006
taking into account amendments up to SLI 2006 No. 125

Prepared by the Office of Legislative Drafting and Publishing,
Attorney-General’s Department, Canberra

Contents

1 Name of Regulations [see Note 1]

2 Definition

2A FCA institutions

3 Designated place: prescribed form of notice by a financial institution

4 Damages on dishonour: rate of interest

6 Register of notices given under the Act, s 65A

7 Inspection of the register

8 Obtaining information contained in the register

Schedule Cheques Regulations 1987

Form 1 Notice by a financial institution specifying a place as a designated place for the Cheques Act 1986

Notes

1 Name of Regulations [see Note 1]

These Regulations are the Cheques Regulations 1987.

2 Definition

In these Regulations:

Act means the Cheques Act 1986.

2A FCA institutions

For paragraph (b) of the definition of FCA institution in subsection 3 (1) of the Act, the following registered corporations are prescribed:

(a) Elders Rural Finance Limited;

(b) Primac Elders Limited;

(c) Wesfarmers Dalgety Limited;

(d) Wesfarmers Limited;

(e) Westralian Farmers Co-operative Limited.

3 Designated place: prescribed form of notice by a financial institution

For the purposes of subsection 65 (1) of the Act, the prescribed form of notice is Form 1 in the Schedule.

4 Damages on dishonour: rate of interest

For the purposes of subparagraphs 76 (1) (a) (ii) and (b) (ii) of the Act, the interest payable, in relation to a cheque, in respect of the sum referred to in subparagraph 76 (1) (a) (i), or the amount referred to in subparagraph 76 (1) (b) (i) of the Act, is an amount calculated, in respect of the period commencing on the day on which the cheque is dishonoured, at a rate equal to the latest monthly average yield of 90‑day Bank Accepted Bills published before that day by the Reserve Bank of Australia.

6 Register of notices given under the Act, s 65A

(1) The eligible authority must keep a register of the following notices: