Federal Register of Legislation - Australian Government

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Banking Amendment Regulations 2000 (No. 1)

Authoritative Version
  • - F2000B00122
  • No longer in force
SR 2000 No. 114 Regulations as made
These Regulations amend the Banking Regulations.
Administered by: Treasury
General Comments: This instrument was backcaptured in accordance with Section 36 of the Legislative Instruments Act 2003
Registered 01 Jan 2005
Tabling HistoryDate
Tabled HR19-Jun-2000
Tabled Senate19-Jun-2000
Gazetted 15 Jun 2000
Date of repeal 09 Aug 2013
Repealed by Treasury (Spent and Redundant Instruments) Repeal Regulation 2013
Table of contents.

Banking Amendment Regulations 2000 (No. 1)

Statutory Rules 2000 No. 114

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 Banking Act 1959.

Dated 7 June 2000

WILLIAM DEANE

Governor-General

By His Excellency’s Command,

JOE HOCKEY


Banking Amendment Regulations 2000 (No. 1)1

Statutory Rules 2000 No. 1142

made under the

 

 

 

Contents

                                                                                                                 Page

                        1  Name of Regulations                                                         2

                        2  Commencement                                                                2

                        3  Amendment of Banking Regulations                                   2

Schedule 1           Amendment                                                                     3

 


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1              Name of Regulations

                These Regulations are the Banking Amendment Regulations 2000 (No. 1).

2              Commencement

                These Regulations commence on gazettal.

3              Amendment of Banking Regulations

                Schedule 1 amends the Banking Regulations.

 


Schedule 1        Amendment

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(regulation 3)

[1]         Regulations 1 and 2

substitute

1              Name of Regulations

                These Regulations are the Banking Regulations 1966.

2              Definitions

                In these Regulations:

Act means the Banking Act 1959.

holder of the stored value, in relation to a purchased payment facility, has the meaning given by the Payment Systems (Regulation) Act 1998.

purchased payment facility has the meaning given by the Payment Systems (Regulation) Act 1998.

3              Banking business: purchased payment facilities

                For the purposes of subparagraph (b) (ii) of the definition of banking business in subsection 5 (1) of the Act, the provision of a purchased payment facility is banking business if APRA determines that the facility:

                (a)    is of a type for which the purchaser of the facility is able to demand payment, in Australian currency, of all, or any part, of the balance of the amount held in the facility that is held by the holder of the stored value; and

               (b)    is available, on a wide basis, as a means of payment, having regard to:

                          (i)    any restrictions that limit the number or types of people who may purchase the facility; and

                         (ii)    any restrictions that limit the number or types of people to whom payments may be made using the facility.

Notes

1.       These Regulations amend Statutory Rules 1966 No. 157.

2.       Made by the Governor-General on 7 June 2000, and notified in the Commonwealth of Australia Gazette on 15 June 2000.