Commonwealth legislation

Wool Stores Regulations

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

60 of 1962

Collection

legislative instrument

Plain English Summary

1/10 complexity

These regulations operate under the Wool Stores Act 1953 and do two simple things:

Name themselves: They officially adopt the title "Wool Stores Regulations".
Appoint a bank: They designate the Commonwealth Trading Bank of Australia (now part of the Commonwealth Bank) as the "prescribed bank" for specific sections of the Wool Stores Act.

What this means: Under sections 10 and 12 of the parent Act, having a "prescribed bank" allows wool store operators to use this specific bank for certain financial arrangements—likely for handling security deposits, guarantees, or payments related to storing wool. This ensures there's an official financial institution designated to handle the money side of wool storage operations.

JSON API

Deep dive

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.

Current sections

Direct links to the current provisions in Wool Stores Regulations.

Wool Stores Regulations

meta-content-style-type: text/css meta-content-type: application/xhtml+xml; charset=utf-8 meta-generator: Aspose.Words for .NET 22.10.0

?xml version="1.0" encoding="utf-8" standalone="no"?>

STATUTORY RULES.

No. 60.

REGULATIONS UNDER THE WOOL STORES ACT 1953.*

I, THE ADMINISTRATOR of the Government of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Wool Stores Act 1953.

Dated this thirtieth day of July, 1962

DALLAS BROOKS

Administrator.

By His Excellency’s Command,

(sgd.) C. F. ADERMANN

Minister of State for Primary Industry.

WOOL STORES REGULATIONS.

Citation.

These Regulations may be cited as the Wool Stores Regulations.

Commonwealth Trading Bank of Australia to be prescribed bank.

For the purposes of sub-section (4.) of section 10 and sub-section (5.) of section 12 of the Wool Stores Act 1953, the Commonwealth Trading Bank of Australia is a prescribed bank.

Notified in the Commonwealth Gazette on 30th July, 1962

By Authority: A. J. ARTHUR, Commonwealth Government Printer, Canberra.

5296/62.—PRICE 3D. 10/18.6.1962.

Source text

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