Commonwealth Numbered Acts

COMMONWEALTH BANKS AMENDMENT ACT 1984 No. 76 of 1984 - SECT 19

19. (1) Section 68 of the Principal Act is repealed and the following section
is substituted: Power to insure homes

"68. The Commonwealth Bank or the Savings Bank may undertake the insurance of
a home in respect of which a loan is made under this Division, whether the
loan is made by the Commonwealth Bank or by the Savings Bank.".

(2) The section inserted in the Principal Act by sub-section (1)-

   (a)  applies in relation to a loan made under Division 3 of Part VI of the
        Commonwealth Banks Act 1959, whether made before or after the
        commencement of this section and whether made by the Commonwealth
        Trading Bank of Australia, by the Commonwealth Bank or by the Savings
        Bank; and

   (b)  so applies, in relation to a loan made by the Commonwealth Trading
        Bank of Australia, as if the loan had been made by the Commonwealth
        Bank.