These Regulations are the Cheques Regulations 1987.

In these Regulations:

For paragraph (b) of the definition of FCA institution in subsection 3 (1) of the Act, the following registered corporations are prescribed:

(a)

Elders Rural Finance Limited;

(b)

Primac Elders Limited;

(c)

Wesfarmers Dalgety Limited;

(d)

Wesfarmers Limited;

(e)

Westralian Farmers Co-operative Limited.

For the purposes of subsection 65 (1) of the Act, the prescribed form of notice is Form 1 in the Schedule.

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.

(1)

The eligible authority must keep a register of the following notices:

(a)

notices given to the authority by financial institutions under subsection 65A (2) of the Act;

(b)

notices varying or revoking notices of the kind mentioned in paragraph (a);

(2)

The register is to be kept in such form and manner as the eligible authority directs.

(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 financial institution who is required by the financial institution to inspect the register.

(2)

In the case of a person referred to in paragraph

(1)

(b), 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 financial institution to the effect that the person is required by the financial institution to inspect the register.

(3)

If the person complies with subregulation (2), the authority must, as soon as practicable, allow the person to inspect the register.

(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.

(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.

(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:

where N is the number of notices from which the information is obtained.