CHEQUES AND PAYMENT ORDERS REGULATIONS
- Updated as at 23 December 1994 (HISTREG CHAP 1367 #DATE 9:12:1997)
*1* The Cheques and Payment Orders Regulations (in force under the Cheques and
Payment Orders Act 1986) as shown in this reprint comprise Statutory Rules
1987 No. 130 amended as indicated in the Tables below.
Table of Statutory Rules
Year and Date of Date of Application
Number Notification commencement saving or
in Gazette transitional
provisions
1987 No. 130 25 June 1987 25 June 1987
1988 No. 37 24 Mar 1988 24 Mar 1988 -
1994 No. 100 19 Apr 1994 19 Apr 1994 -
406 13 Dec 1994 16 Dec 1994 (see r. 1
and Gazette 1994,
No. S435) -
Table of Amendments
ad=added or inserted am=amended rep=repealed rs=repealed and substituted
Provision affected How affected
R. 2A ad. 1988 No. 37
rs. 1994 No. 100
Rr. 6-8 ad. 1994 No. 406
Schedule am. 1994 No. 406
Forms 1, 2 am. No. 406, 1994
#ADD 10:1:1995
CHEQUES AND PAYMENT ORDERS REGULATIONS - TABLE OF PROVISIONS
TABLE
TABLE OF PROVISIONS
Regulation
1. Citation
2. Interpretation
2A. Non-bank financial institutions
3. Designated place: prescribed form of notice by a bank
4. Damages on dishonour: rate of interest
5. Designated place: prescribed form of notice by a financial
institution
6. Register of notices given under sections 65A and 109A of the
Act
7. Inspection of the register
8. Obtaining information contained in the register
SCHEDULE
FORMS
CHEQUES AND PAYMENT ORDERS REGULATIONS - REG 1
Citation
1. These Regulations may be cited as the Cheques and Payment Orders
Regulations.*1*
SEE NOTES TO FIRST ARTICLE OF THIS CHAPTER .
CHEQUES AND PAYMENT ORDERS REGULATIONS - REG 2
Interpretation
2. In these Regulations, unless the contrary intention appears, "the Act"
means the Cheques and Payment Orders Act 1986.
CHEQUES AND PAYMENT ORDERS REGULATIONS - REG 2A
Non-bank financial institutions
2A. For the purposes of paragraph (b) of the definition of "non-bank
financial institution" in subsection 3 (1) of the Act, the following
registered corporations are prescribed:
(a) Dalgety Farmers Limited;
(b) Elders Rural Finance Limited;
(c) Wesfarmers Limited;
(d) Westralian Farmers Co-operative Limited.
CHEQUES AND PAYMENT ORDERS REGULATIONS - REG 3
Designated place: prescribed form of notice by a bank
3. For the purposes of subsection 65 (1) of the Act, the prescribed form of
notice is Form 1 in the Schedule.
CHEQUES AND PAYMENT ORDERS REGULATIONS - REG 4
Damages on dishonour: rate of interest
4. For the purposes of subparagraphs 76 (1) (a) (ii) and (b) (ii) of the
Act, the interest payable, in relation to a cheque, in respect of the sum
referred to in subparagraph 76 (1) (a) (i), or the amount referred to in
subparagraph 76 (1) (b) (i) of the Act, is an amount calculated, in respect of
the period commencing on the day on which the cheque is dishonoured, at a rate
equal to the latest weighted average yield published before that day by the
Reserve Bank of Australia for an issue of 13 week Treasury Notes in the form
of inscribed stock under the Commonwealth Inscribed Stock Act 1911.
CHEQUES AND PAYMENT ORDERS REGULATIONS - REG 5
Designated place: prescribed form of notice by a financial institution
5. For the purposes of subsection 109 (1) of the Act, the prescribed form of
notice is Form 2 in the Schedule.
CHEQUES AND PAYMENT ORDERS REGULATIONS - REG 6
Register of notices given under sections 65A and 109A of the Act
6. (1) The eligible authority must keep a register of the following
notices:
(a) notices given to the authority by banks under subsection 65A (2) of the
Act;
(b) notices varying or revoking notices of the kind mentioned in paragraph
(a);
(c) notices given to the authority by non-bank financial institutions under
subsection 109A (2) of the Act;
(d) notices varying or revoking notices of the kind mentioned in paragraph
(c).
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(2) The register is to be kept in such form and manner as the eligible
authority directs.
(NOTES:
1. A notice referred to in paragraph (1) (a) is a notice given to the eligible
authority by a bank under subsection 65A (2) of the Act specifying a place as
a notified place in relation to cheques for the purposes of the Act. 2. A
notice referred to in paragraph (1) (c) is a notice given to the eligible
authority by a non-bank financial institution under subsection 109A (2) of the
Act specifying a place as a notified place in relation to payment orders for
the purposes of the Act.)
CHEQUES AND PAYMENT ORDERS REGULATIONS - REG 7
Inspection of the register
7. (1) Subject to subregulation (2), the following persons may inspect the
register of notices:
(a) an employee of the eligible authority;
(b) an employee of a bank who is required by the bank to inspect the
register;
(c) an employee of a non-bank financial institution who is required by the
institution to inspect the register.
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(2) In the case of a person referred to in paragraph (1) (b) or (1) (c), he
or she must:
(a) apply to the eligible authority to inspect the register; and
(b) show to the eligible authority a written statement by an officer of the
relevant bank or non-bank financial institution to the effect that the person
is required by the bank or institution to inspect the register.
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(3) If the person complies with subregulation (2), the authority must, as
soon as practicable, allow the person to inspect the register.
(NOTE: No fee is payable to inspect the register.)
CHEQUES AND PAYMENT ORDERS REGULATIONS - REG 8
Obtaining information contained in the register
8. (1) If a person:
(a) asks the eligible authority to provide information contained in the
register; and
(b) pays the fee determined under subregulation (2) or (3);
the authority must, as soon as practicable, provide the information.
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(2) If the person asks the authority to provide information that must be
obtained from one notice in the register, the fee for providing the
information is $20.
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(3) If the person asks the authority to provide information that must be
obtained from more than one notice in the register, the fee for providing the
information is worked out using the formula:
$20 + $(N - 1);
where "N" is the number of notices from which the information is obtained.
CHEQUES AND PAYMENT ORDERS REGULATIONS - SCHEDULE 1
SCH
SCHEDULE
FORM 1 Regulation 3
CHEQUES AND PAYMENT ORDERS REGULATIONS
NOTICE BY A BANK SPECIFYING A PLACE AS A DESIGNATED PLACE FOR
THE PURPOSES OF THE CHEQUES AND PAYMENT ORDERS ACT 1986
(Prepare a separate notice for each designated place)
TAKE NOTICE that (insert full name of bank giving the notice) hereby
specifies:
(a) (insert address of the place to be designated, not being the
address of a post office box or bag) as a designated place for the
purposes of (insert any one or more of "subsection 62 (1)" or
"subsection 62 (9)" as the case requires) of the Cheques and Payment
Orders Act 1986 in relation to the following classes of cheques:
(identify each of those classes with reasonable certainty);
(b) (identify the days and the hours of each of those days) as the
times when the bank will be open for business at that designated place;
and
(c) (identify the means) as the means by which communications may be
made to the bank at that designated place.
THIS NOTICE has effect on and from (insert "the day on which it is
published in the Commonwealth of Australia Gazette" or, if this notice
is to have effect on a later date, insert that date).
*Publication of this notice was authorised by (insert full name and
designation of an officer of the bank giving the notice who is
authorised by the bank to authorise publication of this notice - the
officer's signature is not required) on (date).
FORM 2 Regulation 5
CHEQUES AND PAYMENT ORDERS REGULATIONS
NOTICE BY A NON-BANK FINANCIAL INSTITUTION SPECIFYING A PLACE AS
A DESIGNATED PLACE FOR THE PURPOSES OF THE CHEQUES AND
PAYMENT ORDERS ACT 1986
(Prepare a separate notice of each designated place)
TAKE NOTICE that (insert full name of non-bank financial institution
giving the notice) hereby specifies:
(a) (insert address of the place to be designated, not being the
address of a post office box or bag) as a designated place for the
purposes of (insert any one or more of "subsection 106 (1)" or
"subsection 106 (9)" as the case requires) of the Cheques and Payment
Orders Act 1986 in relation to the following classes of payment orders:
(identify each of those classes with reasonable certainty);
(b) (identify the days and the hours of each of those days) as the
times when (insert name of non-bank financial institution) will be open
for business at that designated place; and
(c) (identify the means) as the means by which communications may be
made to (insert name of non-bank financial institution) at that
designated place.
THIS NOTICE has effect on and from (insert "the day on which it is
published in the Commonwealth of Australia Gazette" or, if this notice
is to have effect on a later date, insert that date).
Publication of this notice was authorised by (insert full name and
designation of an officer of the non-bank financial institution giving
the notice who is authorised by the non-bank financial institution to
authorise publication of this notice - the officer's signature is not
required) on (date).