Commonwealth Numbered Acts

BANKING LEGISLATION AMENDMENT ACT 1986 No. 166 of 1986 - SCHEDULE

SCHEDULE
Section 12
FORMAL AND MINOR AMENDMENTS OF THE RESERVE BANK ACT 1959 Sub-section 4 (2)-
Omit "The last preceding sub-section", substitute "Sub-section (1)".
Sub-section 6A (2)-
Omit "1901-1973", substitute "1901". Sub-section 7 (1)-

   (a)  Omit "sub-section (1) of section 4", substitute "sub-section 4 (1)".

   (b)  Omit "1911-1943", substitute "1911".

   (c)  Omit "1945-1953", substitute "1945". Sub-section 11 (7)-
Omit "fifteen", substitute "15". Sub-section 12 (2)-
Omit "sub-section (1) of section 10", substitute "sub-section 10 (1)".
Paragraph 14 (1) (d)-
Omit "seven", substitute "7". Sub-sections 14 (2), (3) and (4)-
Omit the sub-sections, substitute the following sub-sections:

"(2) Of the 7 members appointed under paragraph (1) (d), at least 5 shall be
persons who are not officers of the Bank or of the Australian Public Service.

"(3) A member appointed under paragraph (1) (d) who is an officer of the Bank
or of the Australian Public Service at the time of his or her appointment
holds office during the pleasure of the Governor-General.

"(4) A member appointed under paragraph (1) (d) who is not an officer of the
Bank or of the Australian Public Service-

   (a)  shall, subject to sub-section (5), be appointed for a period of 5
        years but is eligible for re-appointment; and

   (b)  holds office subject to good behaviour.". Sub-section 14 (5)-
Omit "Public Service of the Commonwealth", substitute "Australian Public
Service". Section 16-
Insert "or her" after "his". Paragraph 17 (a)-
Omit "paragraph (d) of sub-section (1) of section 14", substitute "paragraph
14 (1) (d)". Sub-section 18 (1)-

   (a)  Omit "paragraph (d) of sub-section (1) of section 14", substitute
        "paragraph 14 (1) (d)".

   (b)  Insert "or her" after "his" (wherever occurring). Paragraph 18 (1)
        (d)-

   (a)  Omit "two", substitute "2".

   (b)  Omit "three", substitute "3".

   (c)  Omit "twelve", substitute "12". Sub-section 18 (2)-
Omit "twelve", substitute "12". Section 20-

   (a)  Omit "Chairman" (wherever occurring), substitute "Chairperson".

   (b)  Add at the end the following sub-sections:

"(2) The Chairperson may be referred to as the Chairman or Chairwoman, as the
case requires.

"(3) The Deputy Chairperson may be referred to as the Deputy Chairman or
Deputy Chairwoman, as the case requires.". Sub-sections 21 (1), (2) and (3)-
Omit "Chairman" (wherever occurring), substitute "Chairperson". Sub-section 21
(2)-
Insert "or she" after "he". Sub-section 21 (3)-
Omit "Six", substitute "6". Sub-section 23 (1)-

   (a)  Omit "twenty-five", substitute "25".

   (b)  Omit "his interest", substitute "the member's interest".

   (c)  Omit "he", substitute "the member".

   (d)  Omit "his knowledge", substitute "the knowledge of the member".
        Sub-section 23 (2)-
Omit "the last preceding sub-section", substitute "sub-section (1)". Paragraph
24 (1) (b)-
Omit "seven", substitute "7". Section 25-
Insert "or her" after "his" (wherever occurring). Paragraph 28 (a)-
Omit "1945-1953", substitute "1945". Paragraph 28 (b)-
Omit "the next succeeding section", substitute "section 29". Paragraph 29 (1)
(a)-
Omit "1945-1953", substitute "1945". Paragraph 29 (1) (b)-
Omit "the next succeeding section", substitute "section 30". Section 32
(definition of "Australian note")-
Omit the definition, substitute the following definition:

" 'Australian note' means a note issued under the Australian Notes Act 1910,
under Part VII of the Commonwealth Bank Act 1911, under Part VI of the
Commonwealth Bank Act 1945 or under this Part as in force at any time;".
Sub-section 36 (2)-
Omit "the last preceding sub-section", substitute "sub-section (1)". Section
39-
Omit "1945-1953", substitute "1945". Sub-section 41 (2)-

   (a)  Omit "twenty", substitute "20".

   (b)  Omit "forty", substitute "40". Section 42-
Omit "Two hundred dollars", substitute "$200". Sub-section 44 (1)-
Omit "One thousand dollars", substitute "$1,000". Sub-section 57 (2)-

   (a)  Omit "the last preceding sub-section", substitute "sub-section (1)".

   (b)  Omit "paragraph (a), (b) or (c) of that sub-section", substitute
        "paragraph (1) (a), (b) or (c)". Sub-section 57 (4)-
Omit "to this Act". Paragraph 59 (a)-
Omit "1945-1953", substitute "1945". Section 60-
Omit "Six million dollars", substitute "$6,000,000". Paragraph 62 (1) (a)-
Omit "1945-1953", substitute "1945". Paragraph 62 (1) (b)-
Omit "the next succeeding section", substitute "section 63". Paragraphs 68 (1)
(a) and (b)-
Insert "or she" after "he". Paragraph 68 (1) (c)-
Insert "or her" after "his". Paragraph 71 (2) (a)-
Insert "or she" after "he". Sub-section 71 (3)-
Omit "One thousand dollars", substitute "$1,000". Section 72-

   (a)  Omit "sixty", substitute "60".

   (b)  Omit "sixty-five", substitute "65". Paragraph 72 (a)-
Omit "1945-1953", substitute "1945". Paragraph 72 (b)-

   (a)  Insert "or her" after "his".

   (b)  Insert "or she" after "he". Sub-paragraphs 72 (e) (i), (ii) and (iii)-
Omit "him", substitute "the person". Section 76-
Insert "or she" after "he". Section 77-
Insert "or her" after "his". Sub-section 80 (1)-
Insert "or her" after "his". Sub-section 80 (2)-
Omit "the last preceding sub-section", substitute "sub-section (1)".
Sub-sections 80 (3), (4) and (5)-
Omit "him" (first occurring), substitute "the Auditor-General". Sub-section 80
(5)-
Omit "furnish him", substitute "furnish the Auditor-General or the officer, as
the case may be,". Sub-section 81 (2)-

   (a)  Insert "or her" after "his".

   (b)  Omit "the last preceding sub-section", substitute "sub-section (1)".
        Section 89-
Omit "One hundred dollars", substitute "$100".
NOTE ABOUT SECTION HEADING 1. The heading to section 20 of the Reserve Bank
Act 1959 is altered to
''Chairperson   and Deputy Chairperson''.