Commonwealth Consolidated Regulations

FINANCIAL MANAGEMENT AND ACCOUNTABILITY REGULATIONS 1997 - REG 17

         (1)   An official who:

                (a)    receives public money in a bankable currency; or

               (b)    receives money in a bankable currency that becomes public money on receipt;

must bank the money.

Note    Section 10 of the Act provides that money includes cheques and similar instruments.

         (2)   The official must bank the money as soon as practicable, but in any case not later than:

                (a)    the next banking day; or

               (b)    a banking day approved by the Chief Executive for this paragraph.

Note 1    Section 10 of the Act imposes a penalty for a failure to bank public money as required by these Regulations.

Note 2    Section 11 of the Act provides that an official must not deposit public money in any account other than an official account.

         (3)   A banking day for a bank is a day on which the bank is open to the public for general banking business, other than:

                (a)    a Saturday; or

               (b)    a Sunday; or

                (c)    a day that is a public holiday in the place where the money is received.