Commonwealth Numbered Acts

STATUTE LAW (MISCELLANEOUS AMENDMENTS) ACT (No. 2) 1982 No. 80, 1982 - SECT 18

18. Section 62B of the Principal Act is amended-

   (a)  by inserting after paragraph (1) (a) the following paragraphs:

''(aa) in any securities of a government authority;

   (ab) on loan to an authorized dealer;'';

   (b)  by omitting from paragraph (1) (b) ''or'';

   (c)  by inserting after paragraph (1) (b) the following paragraphs:

''(ba) in certificates of deposit issued by a savings bank or a trading bank;

   (bb) in clean bills of exchange;'';

   (d)  by adding at the end of sub-section (1) the following word and
        paragraph:

''; or (d) in any other form of investment approved by the Minister for the
purposes of this sub-section.'';

   (e)  by omitting from sub-section (2) ''securities or deposits taken or''
        and substituting ''investment'';

   (f)  by omitting from sub-section (2) ''taken or''; and

   (g)  by adding at the end thereof the following sub-section:

''(4) In this section-

'authorized dealer' means a corporation that is an authorized dealer in the
short-term money market as defined by sub-regulation 5 (1) of the Banking 
(Savings Banks) Regulations as amended and in force from time to time under
the Banking Act 1959;

'clean bill of exchange' means a bill of exchange that-

   (a)  has been accepted by a trading bank;

   (b)  has been indorsed by a trading bank or trading banks; and

   (c)  has not been indorsed by any person other than a trading bank;

'government authority' means a public authority constituted by or under a law
of the Commonwealth, of a State or of a Territory and includes a municipal
corporation or other local government body.''.