1Commonwealth Trading Bank Regulations

STATUTORY RULES.

1953. No. 103.

Image unavailable in extracted textREGULATIONS UNDER THE COMMONWEALTH BANK ACT 1945-1953.*

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Commonwealth Bank Act 1945-1953.

Dated this thirtieth

day of November , 1953.

W. J. Slim

Governor-General.

By His Excellency’s Command,

Signature of A.W. Fadden

Treasurer.

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Commonwealth Trading Bank Regulations.

Citation.

1. These Regulations may be cited as the Commonwealth Trading Bank Regulations.

Commencement.

2. These Regulations shall come into operation on the third day of December, One thousand nine hundred and fifty-three.

Definition.

3. In these Regulations, “the Bank” means the Commonwealth Trading Bank of Australia established under the Commonwealth Bank Act 1945-1953.

Office hours.

4. Branches and agencies of the Bank shall be open for the transaction of business on such days and during such hours as the Bank determines.

Information to be furnished by customers.

5. The Bank may require a person who wishes to transact banking business with the Bank to furnish to the Bank particulars of his name, address and occupation and such other particulars as, in the opinion of the Bank, are necessary to enable the Bank to conduct that business properly.

Trading Bank not bound to inquire as to manner of operating on accounts, &c.

6. The Bank shall not be under a liability by reason of its failure to ascertain that the method in accordance with which a firm, company, society, local authority, club or other body of persons desires to operate on an account, to deal with a security or to transact any other business with the Bank is in accordance with any deed, articles, rules or other instrument of the firm, company, society, local authority, club or body.

Powers of attorney, &c.

7. When any business is to be transacted with the Bank under a power of attorney, probate of a will or letters of administration of an estate, the Bank may require the original power of attorney, probate or letters of administration to be produced to the Bank and may require a copy of the power of attorney, probate or letters of administration to be lodged with the Bank.