Commonwealth Numbered Regulations

1986 No. 392 BANKING (SAVINGS BANKS) REGULATIONS (AMENDMENT) - REG 2

2. Regulation 4 of the Principal Regulations is amended by omitting
sub-regulation (1) and substituting the following sub-regulation:

"(1) A savings bank may in the course of carrying on banking business in
Australia, place money on deposit with or lend money to -

   (a)  a savings bank that is a wholly owned subsidiary of the firstmentioned
        savings bank;

   (b)  a savings bank of which the first-mentioned savings bank is a wholly
        owned subsidiary; or

   (c)  any bank other than a savings bank that is not a savings bank referred
        to in paragraph (a) or (b).".