//
© 2026 Zoe. All rights reserved.
Zoe is a legal information platform. Always consult the Federal Register of Legislation for authoritative text.
Commonwealth legislation
This Act has been repealed and is no longer in force. It is retained for historical reference.
These 1913 regulations set the day-to-day operating rules for the newly opened Commonwealth Bank of Australia under the Commonwealth Bank Act 1911. They governed staff conduct (secrecy, fidelity bonds, pay), how customers and businesses opened and accessed accounts, and how the Bank issued and managed government-backed securities.
They affected bank employees, depositors, and investors and mattered because they established trust, security, and reporting standards for Australia’s first national bank.
Want the full deep dive?
Zoe can write the in-depth analysis on top of the summary above: how it works, who it affects and what each part actually does.
Direct links to the current provisions in Commonwealth Bank Regulations 1913 (Provisional).
Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
STATUTORY RULES.
PROVISIONAL REGULATIONS UNDER THE COMMONWEALTH BANK ACT 1911.
I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby certify that on account of urgency the following Regulations, under the Commonwealth Bank Act 1911 should come into immediate operation, and make the Regulations to come into operation forthwith as Provisional Regulations.
Dated the sixteenth day of January, One thousand nine hundred and thirteen.
DENMAN,
Governor-General.
By His Excellency’s Command.
JOSIAH THOMAS,
for the Treasurer.
Regulations relating to the Commonwealth Bank of Australia.
Short Title.
1. These Regulations may be cited as the Commonwealth Bank Regulations 1913.
Interpretation.
2. In these Regulations, unless the contrary intention appears—
“the Act” means the Commonwealth Bank Act 1911;
“the Bank” means the Commonwealth Bank of Australia;
“the Governor” means the Governor of the Bank;
“the Deputy-Governor” means the Deputy-Governor of the Bank;
“Inspector” means an Inspector of the Bank;
“Superintendent” means the Officer-in-Charge of the Savings Bank Department of the Bank in each State;
“Manager” means the Manager of a Branch of the Bank;
“Accountant” means the Officer performing the duties of Accountant at a Branch of the Bank;
“Officer” means an officer of the Bank;
“Probationer” means an employee on probation for admission to the service of the Bank;
“Branch” means a Branch of the Bank.
C.351.—Price 8d.
Staff.
3. (1) Classification of Officers.—The Governor shall classify the officers and servants of the Bank, and shall fix their remuneration from time to time.
(2). Probationers.—Every probationer on joining the service of the Bank shall be required to sign “Probationary Articles of Agreement” and a “Declaration of Secrecy,” and he shall be assured by a bond for £500 (penal) by a Fidelity Guarantee Society, approved by the Governor, to secure his fidelity during his term of probation.
(3). Officers.—Every officer on his admission to the service of the Bank shall be required to sign “Articles of Agreement,” and “Declaration of Secrecy.”
(4). Duty of Secrecy.—No probationer or officer shall allow any person to have access to books or papers belonging to the Bank, nor shall he furnish extracts therefrom, nor give information of any kind relating to the business of the Bank (except to a customer in respect of his own matters) unless by direction and authority of the Governor, or under compulsion or obligation of law.
Superannuation Fund and Fidelity Guarantee Fund.
4. (1) The Governor may provide for a Superannuation Fund, and a Fidelity Guarantee Fund to be established, and may make Rules for the conduct of such Funds. Every officer (excepting the first Governor and Deputy Governor) shall subscribe to such Funds in terms of the Rules.
(2). The Governor may, from time to time, out of the funds of the Bank, supplement each of the said Funds to an extent approved by the Treasurer.
Governor—Delegation of Authority.
5. The Governor may, from time to time, when he considers it necessary or expedient, delegate any or all of the powers conferred upon him by these Regulations to the Deputy-Governor or Superintendent, or Inspector, or Branch Manager, or such other officer as he thinks fit.
Legal Proceedings.
General Banking Business Regulations.
7. (1) The Bank shall be open for the transaction of general banking business at such times and at such places as the Governor directs.
(2). The Bank shall, subject to the Act and these Regulations—
(a) Receive money on current account;
(b) Receive money on fixed deposit;
(c) Issue bills and drafts;
(d) Grant letters of credit;
(e) Receive bills for collection;
(f) Accept packets for safe custody;
(g) Grant advances;
(h) Discount or negotiate bills and drafts;
(i) Deal in exchanges, specie, bullion, gold dust, assayed gold, and precious metals; and
(k) Transact any other banking business;
on such terms and conditions and at such rates as the Governor, from time to time, decides.
Current and Fixed Deposit Accounts.
8. (1) Individuals. —Any person wishing to open a current or fixed deposit account with the Bank will be required—
(a) To furnish the bank with full information regarding his name, occupation, and address;
(b) To give u specimen of his signature in the book provided for that purpose;
(c) To fill in and sign a deposit slip; and
(d) To furnish any further information which the Bank requires.
(2) Firms.—Any firm wishing to open a current or fixed deposit account with the Bank will be required—
(a) To furnish the Bank with full information regarding the constitution, business, and address of the firm;
(b) To give specimen signatures of all the partners or proprietors in the book provided for that purpose;
(c) To give the Bank an authority prescribing who shall operate on the account; and
(d) To furnish any further information which the Bank requires.
(3). Companies and Societies and Other Incorporated Bodies.—Any company or society or other incorporated body wishing to open a current or fixed deposit account with the Bank will be required to furnish—
(a) A copy of its memorandum and articles of association or instrument of incorporation;
(b) An authority specifying the persons who are authorized to operate on the account, supported by relevant extracts from minutes, duly verified, and specimen signatures of the persons so authorized; and
(c) Any further information which the Bank requires.
(4). Local Authorities, Friendly Societies, Charitable Institutions, and Other Kindred Bodies.—Any local authority, friendly society, charitable institution, or other kindred body wishing to open a current or fixed deposit account with the Bank will be required to furnish—
(a) An authority specifying the officials who are authorized to operate upon the account, together with their specimen signatures;
(b) The name and address of the official to whom the Bank is to address correspondence regarding the account; and
(c) Any further information which the Bank requires.
(5). It shall not be incumbent on the Bank to examine any deed, articles, or rules of any firm, company, society, or body to ascertain that the method specified in any authority as the method in which the account of the firm, company, society, or body is operated upon is in accordance with such deed, articles, or rules, and the Bank shall not be responsible if such deed, articles, or rules are in any way contravened.
(6). Notice of any change in the address of any customer of the Bank shall be given by the customer to the Bank as soon as reasonably may be after the change has taken place.
Power of Attorney, &c.
9. When an account is to be operated on under power of attorney or probate or letters of administration, the original document shall, if required, be produced to the Bank, and such document, or a certified copy thereof, shall, if required, be lodged with the Bank.
A 2
Decease of Customers.
(2) The Bank shall not be responsible for any withdrawals of or other dealings with any funds of a deceased customer before it has received notice of his death.
Issue of Bank Cheques.
11. No cheques will be marked as “good” for customers. When a local payment has to be made, and it would be inconvenient for a customer of the Bank to tender cash, the manager may issue a “Bank Cheque” signed by himself and the accountant.
Fixed Deposit Receipts.
(2) Instructions as to Disposal.—The instructions as to the disposal of an amount on fixed deposit shall be indorsed on the receipt, and signed by the payee, or his letter of authority given; unless the Governor dispenses with such indorsement or authority.
(3) Acquaintance for Cash or Transfer.—An acquaintance by way of cheque shall be given for all fixed deposits, and also for interest thereon. A cheque or other specific authority shall be given if the depositor wishes to place the whole or any part of the proceeds at maturity, or otherwise at the disposal of any person other than himself.
Death of Fixed Depositor.
13. In the event of the death of a fixed depositor, the money shall not be transferred to current amount, or paid, until probate or letters of administration have been obtained, and exhibited in the usual way, unless the Governor dispenses with their production. Such deposit may, however, with the approval of the Governor, be renewed, with interest added, in the name of the deceased.
Renewal of Fixed Deposit.
14. When a fixed deposit is renewed, a new receipt shall be issued with a new number.
Fixed Deposit Receipts—Lost.
15. (1) In the event of a depositor losing his deposit receipt, particulars of loss shall be furnished to the Governor, who will decide whether the Bank will pay the depositor the amount of his receipt, on his giving an indemnity in accordance with the following form, or any other security required by the Governor, with an approved surety, accompanied by a statutory declaration setting out the facts and declaring that the document was not parted with for valuable or other consideration, and such other evidence (if any) as the Governor requires.
Form of indemnity.
In consideration of the Commonwealth Bank of Australia paying to the bearer the sum of.... being the amount of fixed deposit receipt No dated payable on to which fixed deposit receipt has been lost and cannot be produced by the said I promise and agree to hold the Bank indemnified against all actions and suits, claims or demands, which may be brought or made on the said fixed deposit receipt, or in respect of the moneys therein referred to, and also against all costs, charges, and expenses which the Bank may pay or incur in consequence of making the aforesaid payment to the bearer hereof.
.................................
Signature of Surety.
.............day of...............
Received from the Commonwealth Bank of Australia the above-mentioned sum of.........and I agree to hold the Bank indemnified against all actions or suits, claims and demands which may be brought, or made upon, or in respect of the above-mentioned fixed deposit receipt, or in respect of the moneys therein referred to and also against all costs, charges, and expenses which the Bank may pay or incur in consequence of paying the above-mentioned sum to me.
Signature of receiver of the money.................
(2) Where the law of the State so requires, the indemnity and receipt should be stamped with a duty stamp by the persons executing them, but the absence of any such stamp shall not affect the validity of the document or the rights of the Bank thereunder.
Quarterly Statements of Assets and Liabilities, &c.
16. The Governor shall furnish to the Treasurer of the Commonwealth quarterly statements of the liabilities and assets of the Bank, and of the business of the Bank, in accordance with Form S.
Half-yearly Balance-sheet,
17. The balance-sheet to be prepared in accordance with section 20 of the Act shall be made up as of the 30th day of June and the 31st day of December in each year, and shall be in accordance with Form T, and shall be prepared as soon after those dates as reasonably may be.
Classification of Depositors’ Balances.
18. A return called the Classification of Depositors’ Balances in the Form XI shall be supplied by the Governor to the Treasurer as for the 30th of June in each year.
Debentures.
19. (1) The Governor may, from time to time, with the approval of the Treasurer, sell debentures, or cause them to be sold, in the Commonwealth, England, and elsewhere.
(2) Debentures shall be in accordance with the following form, and shall be under the Common Seal of the Bank, and signed by the Governor or Deputy-Governor and countersigned by some officer authorized by the Governor in that behalf;
Form of Debenture.
COMMONWEALTH OF AUSTRALIA.
The Commonwealth Bank of Australia.
No....£
This Debenture is issued by the Commonwealth Bank of Australia, in pursuance of the Commonwealth Bank Act 1911, and entitles the bearer to the sum of pounds sterling with interest thereon, at the rate of pounds per centum per annum to be paid to the bearer by the Bank, subject to the said Act and the terms specified in this Debenture.
1. The payment of the principal and interest due in respect of this Debenture is, by the said Act, guaranteed by the Commonwealth, and the Consolidated Revenue Fund of the Commonwealth is by the said Act appropriated for that purpose.
2. Interest will be payable half yearly on the first day of...................and the first day of in each year, and annexed to this Debenture are twenty coupons each providing for a half-year’s interest, and such interest will be payable only on presentation of the coupon referring thereto. After the day of (ten years after date), and at the expiration of each succeeding period of ten years, the bearer of the appropriate voucher on presentation thereof will be entitled to the issue of fresh coupons for a further period of ten years.
3. The principal sum of £.......................will be paid to the bearer hereof on such day between the date hereof and the first day of January, One thousand nine hundred and ninety-nine, and at such place or places as the Governor of the Bank from time to time decides.
4. Not less than twelve months’ notice shall be given by the Governor of intention to pay off the said principal sum.
5. Such notice shall be given by advertisement in the Commonwealth Government Gazette, and in some daily newspaper in each of the capital cities of Australia, or in such other place or places (if any) as the Governor considers expedient or proper.
Dated this...................day of...............19…
l.s.
......................................
Signature of Governor or Deputy-Governor of Bank.
Countersigned
......................................
Authorized officer of the Bank.
(3). The Governor may at any time at the request of the bearer of any Debenture issue Inscribed Stock of the same currency, and bearing the same interest in lieu and place of the Debenture.
(4). Requests for Inscribed Stock may be made to the Governor in Sydney, or at such other place or places as the Governor from time to time appoints.
(5). Requests for Inscribed Stock shall be in accordance with Form A or Form B, and must be accompanied by the Debentures which the applicant proposes to surrender. These forms, and all other specified forms, may be obtained from any office of the Bank, upon application either personally, or by letter.
(6). Upon receipt of the request, a provisional receipt in accordance with Form C will be issued by the Bank, and must be surrendered when a certificate of inscription in accordance with Form D in the Schedule is issued.
Transfers,
20. (1) All transfers of Inscribed Stock must be made in the transfer books kept for that purpose in the Sydney office of the Bank, or at such other place places as the Governor from time to time appoints, and must be signed by the transferror and the transferree either in person or by attorney.
(2). No transfer will be permitted in a sum less than ten pounds sterling.
(3). Upon transfer being completed, a memorandum of transfer in Form N will be Issued to the transferee.
Interest.
This is an opening excerpt, not the complete document.