Federal Register of Legislation - Australian Government

Primary content

SR 1998 No. 326 Regulations as made
These Regulations amend the Loan (Income Equalization Deposits) Regulations.
Administered by: Agriculture, Fisheries and Forestry
General Comments: This instrument was backcaptured in accordance with Section 36 of the Legislative Instruments Act 2003
Registered 01 Jan 2005
Tabling HistoryDate
Tabled HR09-Dec-1998
Tabled Senate10-Dec-1998
Gazetted 09 Dec 1998
Date of repeal 22 Feb 2005
Repealed by Repeal of the enabling legislation by Financial Framework Legislation Amendment Act 2005
Table of contents.

Loan (Income Equalization Deposits) Amendment Regulations 1998 (No. 1)

Statutory Rules 1998    No. 326

I, WILLIAM PATRICK DEANE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations under the Loan (Income Equalization Deposits) Act 1976.

Dated 9 December 1998.

                                                                          WILLIAM DEANE

                                                                            Governor-General

By His Excellency’s Command,

C. R. Kemp

Assistant Treasurer
for the
Minister for
Agriculture, Fisheries and Forestry

 


Loan (Income Equalization Deposits) Amendment Regulations 1998 (No. 1)1

Statutory Rules 1998    No. 3262

made under the

 

 

 

Contents

                                                                                                                 Page

                        1     Name of regulations                                                       

                        2     Commencement                                                             

                        3     Amendment of Loan (Income Equalization Deposits) Regulations    

Schedule 1       Amendments of Loan (Income Equalization Deposits) Regulations  

 


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1           Name of regulations

                     These regulations are the Loan (Income Equalization Deposits) Amendment Regulations 1998 (No. 1).

2           Commencement

                     These regulations commence on the day the Taxation Laws Amendment (Farm Management Deposits) Act 1998 commences.

3           Amendment of Loan (Income Equalization Deposits) Regulations

                     Schedule 1 amends the Loan (Income Equalization Deposits) Regulations.


Schedule 1        Amendments of Loan (Income Equalization Deposits) Regulations

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[1]         Regulation 1

             substitute

1       Name of regulations

                These regulations are the Loan (Income Equalization Deposits) Regulations 1980.

[2]         After regulation 4

             insert

5       Transfer of deposits — information for authorised person

                For paragraph 25B (1) (b) of the Act, the information that the authorised person may require to accompany the deposit includes the following:

                (a)    the depositor’s name;

               (b)    the branch of the financial institution;

                (c)    the BSB number for the financial institution;

               (d)    the account number for the depositor’s account at the financial institution.

Note   Under paragraph 25B (1) (a) of the Act, a depositor may make a request in writing to the authorised person to re-deposit on behalf of the depositor, as separate farm management deposits with a specified financial institution, every deposit of the depositor.

Under paragraph 25B (1) (b) of the Act, the request must be accompanied by any information, and the form, that the authorised person requires for the purpose of making the deposits on behalf of the depositor with the financial institution.

The authorised person must make the deposits in accordance with the request if the request meets all the requirements in section 25B.

Notes

1.       These regulations amend Statutory Rules 1980 No. 228, as amended by 1981 No. 302; 1983 Nos. 140 and 348; 1984 Nos. 51, 129 and 218; 1989 No. 135; 1993 No. 99.

2.       Made by the Governor-General on 9 December 1998,  and notified in the Commonwealth of Australia Gazette on 9 December 1998.  Administered by the Minister for Agriculture, Fisheries and Forestry.