Commonwealth Banks

No. 58 of 1966

An Act to amend the Commonwealth Banks Act 1959–1965 in relation to the Membership of the Commonwealth Banking Corporation Board.

[Assented to 29 October 1966]

[Date of commencement, 26 November 1966]

BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation.

1.—(1.) This Act may be cited as the Commonwealth Banks Act 1966.

(2.) The Commonwealth Banks Act 1959–1965, as amended by this Act, may be cited as the Commonwealth Banks Act 1959–1966.

Disqualification from membership.

2. Section 16 of the Commonwealth Banks Act 1959–1965 is amended by adding at the end thereof the following sub-section:—

“(2.) The last preceding sub-section does not disqualify a person from appointment, or from continuing to act, as a member of the Board by reason only that he is a member of the Development Bank Board established by the Ordinance of the Territory of Papua and New Guinea known as the Papua and New Guinea Development Bank Ordinance 1965.”.