This Act makes existing references to the “Commonwealth Bank of Australia” in earlier laws read as references to three successor institutions: the Commonwealth Trading Bank of Australia, the Reserve Bank of Australia and the Commonwealth Development Bank of Australia, and is deemed to have commenced on 3 December 1953 (s 1(2), s 2(1)). It also lets the Governor, by Gazette order, exclude particular Acts or regulations (or parts) from that substitution and to specify an earlier operative date, so officials, courts and private parties must treat old statutory references as pointing to those successor banks unless an order says otherwise (s 2(2)(b)–(c)).