RE-ESTABLISHMENT AND EMPLOYMENT.

No. 16 of 1959.

An Act relating to Re-establishment and Employment.

[Assented to 23rd April, 1959.]

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 Re-establishment and Employment Act 1959.

(2.)   The Re-establishment and Employment Act 1945-1958, as amended by this Act, may be cited as the Re-establishment and Employment Act 1945-1959.

Commencement.

2.  This Act shall come into operation on the day on which the Reserve Bank Act 1959 comes into operation.

Arrangement with Commonwealth Trading Bank, Commonwealth Development Bank, State authorities and Savings Banks.

3.  Section ninety-eight of the Re-establishment and Employment Act 1945-1958 is amended by omitting sub-section (1.) and inserting in its stead the following sub-section:—

“(1.) A prescribed authority may, with the consent of the Treasurer, enter into an agreement with the Commonwealth Trading Bank of Australia, with the Commonwealth Development Bank of Australia, with a State, with an authority of a State or with a Savings Bank for the performance by the Commonwealth Trading Bank of Australia, by the Commonwealth Development Bank of Australia, by the State, by the authority or by the Savings Bank of such of the functions of the prescribed authority under this Division as are specified in the agreement.”.