Commonwealth legislation

Proceeds of Crime (Commonwealth Bank of Australia) Regulations

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

328 of 1993

Collection

legislative instrument

Plain English Summary

2/10 complexity

This regulation closes a legal gap from the Commonwealth Bank’s 1991 privatisation by treating the Bank as a “Commonwealth body” and a Government Business Enterprise under the Proceeds of Crime Act 1987—but only for offences committed before 17 April 1991. That preserves government power to investigate and recover proceeds of crime linked to the Bank’s pre‑privatisation activities, affecting the Bank and agencies that pursue asset recovery.

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Current sections

Direct links to the current provisions in Proceeds of Crime (Commonwealth Bank of Australia) Regulations.

Proceeds of Crime (Commonwealth Bank of Australia) Regulations

Statutory Rules 1993 No. 3281

__________________

Proceeds of Crime (Commonwealth Bank of Australia) Regulations

I, The Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Proceeds of Crime Act 1987 and the Commonwealth Banks Act 1959.

Dated 2 December 1993.

BILL HAYDEN

Governor-General

By His Excellency’s Command,

d. kerr

Minister for Justice

____________

Citation

These Regulations may be cited as the Proceeds of Crime (Commonwealth Bank of Australia) Regulations.

Note: [NOTE: These Regulations commence on gazettal: see Acts Interpretation Act 1901, s. 48.]

Arrangements relating to the Commonwealth Bank of Australia

(1) In relation to a relevant offence, within the meaning of section 34c of the Proceeds of Crime Act 1987, that was committed before 17 April 1991, the Commonwealth Bank of Australia, as it exists after 17 April 1991, is declared to be incorporated for a purpose of the Commonwealth:

(a) for the purposes of the Proceeds of Crime Act 1987; and

(b) for the purposes of section 27h of the Commonwealth Banks Act 1959.

(2) For the purposes of the definition of “GBE” in subsection 4 (1) of the Proceeds of Crime Act 1987, the Commonwealth Bank of Australia is prescribed.

_________________________________________________

NOTE

Note: 1. Notified in the Commonwealth of Australia Gazette on 10 December 1993.

Source text

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

1 Proceeds of Crime (Commonwealth Bank of Australia) Regulations

Statutory Rules 1993 No. 3281

__________________

Proceeds of Crime (Commonwealth Bank of Australia) Regulations

Dated 2 December 1993.

BILL HAYDEN

Governor-General

By His Excellency’s Command,

d. kerr

Minister for Justice

____________

Citation

These Regulations may be cited as the Proceeds of Crime (Commonwealth Bank of Australia) Regulations.

Note: [NOTE: These Regulations commence on gazettal: see Acts Interpretation Act 1901, s. 48.]

Arrangements relating to the Commonwealth Bank of Australia

(1) In relation to a relevant offence, within the meaning of section 34c of the Proceeds of Crime Act 1987, that was committed before 17 April 1991, the Commonwealth Bank of Australia, as it exists after 17 April 1991, is declared to be incorporated for a purpose of the Commonwealth:

(a) for the purposes of the Proceeds of Crime Act 1987; and

(b) for the purposes of section 27h of the Commonwealth Banks Act 1959.

(2) For the purposes of the definition of “GBE” in subsection 4 (1) of the Proceeds of Crime Act 1987, the Commonwealth Bank of Australia is prescribed.

_________________________________________________

NOTE

Note: 1. Notified in the Commonwealth of Australia Gazette on 10 December 1993.