21/04/2015 · Act No. 4 of 1959 as amended, taking into account amendments up to Public Governance and Resources Legislation Amendment Act No. 1 2015: An Act relating to the Reserve Bank of Australia, and for other purposes. 05/08/2014 · g The Reserve Bank Act 1959 was amended by sections 69–74 only of the Banking State Bank of South Australia and Other Matters Act 1994, subsection 21 of which provides as follows: 1 Subject to this section, this Act commences on the day on which it receives the Royal Assent. Reserve Bank Act 1959 1 An Act relating to the Reserve Bank of Australia, and for other purposes Part I—Preliminary 1 Short title [see Note 1] This Act may be cited as the Reserve Bank Act 1959. 2 Commencement [see Note 1] This Act shall come into operation on a date to be fixed by Proclamation. 4 Repeal and saving.
‘It is the duty of the Board, within the limits of its powers, to ensure that the monetary and banking policy of the Bank is directed to the greatest advantage of the people of Australia and that the powers of the Bank under this Act, the Banking Act 1959 and the regulations under that Act are. The Reserve Bank of Australia 7A. Application of the Public Governance, Performance and Accountability Act 2013 7B. Disclosure of interests by members of the Reserve Bank Board in relation to certain matters 7C. Other disclosures of material personal interests by members of the Reserve Bank Board and the Payments System Board 8. General powers. The Reserve Bank of Australia RBA is Australia's central bank and banknote issuing authority. It has had this role since 14 January 1960, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank. About the RBA. The Reserve Bank of Australia RBA is Australia's central bank and derives its functions and powers from the Reserve Bank Act 1959. Its duty is to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people.
Displayed here are links to compilations of the Principal, the most current at the top of the list. Details of appointments of designated Bank officers that are made under the Reserve Bank Act 1959. Statutory Appointments. The Reserve Bank of Australia acknowledges the Aboriginal and Torres Strait Islander Peoples of Australia as the Traditional Custodians of this land. 06/03/2017 · This Act may be cited as the Banking Act 1959. 2 Commencement Except as otherwise provided by this Act, this Act shall come into operation on the day on which the Reserve Bank Act 1959 comes into operation. 4 Repeal. h The Reserve Bank Act 1959 was amended by sections 3, 20 and the Schedule items 57 and 58 only of the Commonwealth Bank Sale Act 1995, subsections. 21 and 2 of which provide as follows: 1 Subject to this section, this Act commences on the day on which it receives the Royal Assent.
The role and functions of the Reserve Bank are underpinned by various pieces of legislation. The Bank is a statutory authority, established by an Act of Parliament, the Reserve Bank Act 1959, which gives it specific powers and obligations. In terms of the Act, there are two Boards: the Reserve Bank Board and the Payments System Board. RESERVE BANK ACT 1959 - SECT 18 Termination of appointment 1 If a member of the Reserve Bank Board appointed under paragraph 141d: a becomes permanently incapable of performing his or.
Procedure for applying this Act to persons subject to statutory management under Reserve Bank of New Zealand Act 1964 [Repealed] 190: Transitional provisions in relation to Part 5A and Part 5C of Reserve Bank of New Zealand Act 1964 [Repealed] 191: Transitional provisions in. RESERVE BANK ACT 1959 - SECT 5 Interpretation 1 In this Act, unless the contrary intention appears: "ADI" authorised deposit-taking institution means a body corporate that is an ADI for the purposes of the Banking Act 1959. There are requirements in the Reserve Bank Act 1959 for the Bank to consult with the Australian Government. In terms of the Public Governance, Performance and Accountability Act 2013, the Governor gives its annual report to the Treasurer, for presentation to the Parliament of Australia.
Legal Tender. Australian banknotes are a legal tender throughout Australia this is provided in section 361 of the Reserve Bank Act 1959. A payment of coins is a legal tender throughout Australia if it is made in Australian coins, but this is subject to some restrictions about how much can be paid in coin. RESERVE BANK ACT 1959 - SECT 1 Short title This Act may be cited as the Reserve Bank Act 1959. Reserve Bank Act 1959 2015 Compilation. The membership of the Reserve Bank Board is established, and remuneration guidelines are given. This law provides the minimum capital requirements, reserve fund, profits and responsibilities to be followed by the Central Bank. RESERVE BANK. No. 4 of 1959. An Act relating to the Reserve Bank of Australia, and for other purposes. [Assented to 23rd April, 1959.1 B E it enacted by the Queen's Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of.
RESERVE BANK ACT 1959 - SECT 16 Declaration by members 1 A member of the Reserve Bank Board shall, before entering upon his or her duties or exercising any power under this Act, make, before a Justice of the Peace or a Commissioner for taking Affidavits, an oath or affirmation of allegiance in accordance with the form in the Schedule.
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