14DExtension of Bank Holiday to other financial institutions

14D Extension of Bank Holiday to other financial institutions

14D Extension of Bank Holiday to other financial institutions

(1) A financial institution must not be open for retail business on Bank Holiday.

Maximum penalty—100 penalty units.

(2) The retail business of a financial institution is business of the financial institution that is conducted with customers in person at the financial institution or a branch of the financial institution.

(3) This section does not prevent a financial institution (or one or more of its branches) from opening on Bank Holiday if—

(a) the financial institution (or the branch) is staffed only by persons who have freely elected to work on that day, or

(b) an industrial instrument provides for employees employed in the retail business of the financial institution to receive a substituted day off in lieu of Bank Holiday for working on Bank Holiday, or

(c) the financial institution has no more than 5 employees.

(4), (5) (Repealed)

s 14D: Ins 2010 No 114, Sch 1 [12]. Am 2015 No 55, Sch 1 [11] [12].