Commonwealth Numbered Regulations

1984 No. 168 BANKING (SAVINGS BANKS) REGULATIONS (AMENDMENT) - REG 3

3. Regulation 5 of the Principal Regulations is amended by omitting
sub-regulations (3) and (4) and substituting the following sub-regulation:

"(4) On and after 1 July 1983, 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 15 per cent of the amount
        on deposit in Australia with the Savings Bank.".