FINANCIAL INSTITUTIONS DUTY REGULATIONS (NO. 17 OF 1990) - REG 2 2. In these Regulations, unless the contrary intention appears—“the Act” means the Financial Institutions Duty Act 1987.

Australian Capital Territory Numbered Regulations

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FINANCIAL INSTITUTIONS DUTY REGULATIONS (NO. 17 OF 1990) - REG 2

2. In these Regulations, unless the contrary intention appears—“the Act” means the Financial Institutions Duty Act 1987.

Prescribed accounts

3. (1) For the purpose of paragraph 19 (1) (e) of the Act, a prescribed account is a clearing or settlement account kept by a bank which is a registered financial institution on behalf of—

(a) 2 or more—

(i) building societies; or

(ii) credit societies; or

(b) a person who operates the account on behalf of 2 or more—

(i) building societies; or

(ii) credit societies.

(2) In subregulation (1), “building societies” and “credit societies” have the same respective meanings as in the Co-operative Societies Act 1939 .

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