BANKING (SAVINGS BANKS) REGULATIONS (AMENDMENT) 1987 NO. 52 

BANKING (SAVINGS BANKS) REGULATIONS (AMENDMENT) 1987 NO. 52 
- TABLE OF PROVISIONS

1. Investment of funds of savings banks  


1987 No. 52 BANKING (SAVINGS BANKS) REGULATIONS (AMENDMENT)
- REG 1
Investment of funds of savings banks


  Regulation 5 of the Banking (Savings Banks) Regulations is amended by
omitting subregulation (4) and substituting the following subregulation:
  "(4) On and after the commencement of this subregulation, a savings bank
shall at all times maintain in:
  (a)  investments of the kinds specified in paragraphs (2) (a), (c) and (d);
and
  (b)  loans to authorized dealers in the short-term money market secured by
securities issued by the Commonwealth; an amount that, together with cash on
hand in Australia, is not less than 13 per cent of the amount on deposit in
Australia with the savings bank.


- NOTES


1987 No. 52*1* BANKING (SAVINGS BANKS) REGULATIONS*2* (AMENDMENT)



*1* Notified in the Commonwealth of Australia Gazette on 3 April 1987.
*2* Statutory Rules 1960 No. 6 as amended by 1962 No. 58; 1963 No. 80; 1966
No. 69; 1970 No. 167; 1974 No. 155; 1977 Nos. 63, 86, 87 and 196; 1978 No.
160; 1982 No. 206; 1984 No. 168; 1986 Nos. 303 and 392.