14CBanks not to be open for retail banking business on bank close days

14C Banks not to be open for retail banking business on bank close days

14C Banks not to be open for retail banking business on bank close days

(1) A bank must not be open for retail banking business on a bank close day.

Maximum penalty—100 penalty units.

(2) The retail banking business of a bank is banking business (within the meaning of the Banking Act 1959 of the Commonwealth) that is conducted with customers in person at the bank or a branch of the bank.

(2A) A person commits an offence against this subsection if the person commits an offence under subsection (1) in circumstances of aggravation.

Maximum penalty—100 penalty units for each person who did not freely elect to work on the bank close day.

(2B) In subsection (2A), circumstances of aggravation means circumstances in which the bank was staffed by any person who did not freely elect to work on the bank close day concerned.

(2C) If on the trial of a person charged with an offence against subsection (2A) the trier of fact is not satisfied that the offence is proven but is satisfied that the person has committed an offence against subsection (1), the trier of fact may acquit the person of the offence charged and find the person guilty of an offence against subsection (1), and the person is liable to punishment accordingly.

(3) This section does not prevent a bank (or one or more of its branches) from opening in accordance with an approval granted under this Part.

(4) A bank must not fail to comply with a condition of an approval granted under this Part.

Maximum penalty—50 penalty units.

s 14C: Ins 2010 No 114, Sch 1 [12]. Am 2015 No 55, Sch 1 [9].