BANKS (SHAREHOLDINGS) REGULATIONS (AMENDMENT) 1996 NO. 257 

BANKS (SHAREHOLDINGS) REGULATIONS (AMENDMENT) 1996 NO. 257 
- TABLE OF PROVISIONS

1.  Commencement  
2.  Amendment  
3.  Regulation 8 (Prescribed interests and persons - paragraph 8 (9)  (d) of the Act)  
4.  New regulation 11  
5.  Schedule (Banks and persons specified for purposes of regulations 3  and 4)  


1996 No. 257 BANKS (SHAREHOLDINGS) REGULATIONS (AMENDMENT)
- REG 1
1. Commencement


  1.1  Regulations 3 and 5 commence on 31 March 1997.
[NOTE: The remainder of these Regulations commence on gazettal: see 
Acts Interpretation Act 1901, s. 48.]


1996 No. 257 BANKS (SHAREHOLDINGS) REGULATIONS (AMENDMENT)
- REG 2
2. Amendment


  2.1 The Banks (Shareholdings) Regulations are amended as set out in 
these Regulations.


1996 No. 257 BANKS (SHAREHOLDINGS) REGULATIONS (AMENDMENT)
- REG 3
3. Regulation 8 (Prescribed interests and persons - paragraph 8 (9) 
        (d) of the Act)


  3.1 Omit the regulation.  


1996 No. 257 BANKS (SHAREHOLDINGS) REGULATIONS (AMENDMENT)
- REG 4
4. New regulation 11


  4.1 After regulation 10, insert:
Prescribed interest in shares and prescribed persons (Act, paragraph 8 
(9) (d)) - State Bank of New South Wales Limited
  "11. (1) This regulation is made for paragraph 8 (9) (d) of the Act.  
  "(2) If a person is deemed under section 8 or 9 of the Act to have 
an interest in a share in State Bank, the interest is prescribed and 
the person is prescribed in relation to the interest.  
  "(3) Subregulation (2) does not apply in relation to an interest 
that:
  (a) Colonial Limited or Emerald Holding is deemed to have; or
  (b) persons who are from time to time relevant officers of Colonial 
Limited or Emerald Holding are deemed to have; or
  (c) any other person is deemed to have because:
    (i) Colonial Limited is, or its directors are, accustomed, or 
under an obligation, whether formal or informal, to act in accordance 
with the directions, instructions or wishes of the person in relation 
to that share in State Bank; or
    (ii) the person has a controlling interest in Colonial Limited; or
    (iii) the person is, the associates of the person are, or the 
person and the associates of that person are, entitled to exercise or 
control the exercise of not less than 15% of the votes attached to the 
voting shares in Colonial Limited.
  "(4) In this regulation:
  'associate' has the meaning given by subsection 8 (5) of the Act; 
  'Emerald Holding' means Emerald Holding Company Limited; 
  'State Bank' means the State Bank of New South Wales Limited.".  


1996 No. 257 BANKS (SHAREHOLDINGS) REGULATIONS (AMENDMENT)
- REG 5
5. Schedule (Banks and persons specified for purposes of regulations 3 
and 4)


  5.1 Item 26:
Omit the item.  


1996 No. 257 BANKS (SHAREHOLDINGS) REGULATIONS (AMENDMENT)
- NOTE 1


NOTES
*1* Notified in the Commonwealth of Australia Gazette on 26 November 
1996.


1996 No. 257 BANKS (SHAREHOLDINGS) REGULATIONS (AMENDMENT)
- NOTE 2


*2* Statutory Rules 1985 No. 67 as amended by 1985 Nos. 233, 263, 299, 
311, 336, 337, 338 and 376; 1986 Nos. 10, 11, 12, 13, 21, 23, 24, 44, 
92, 107 and 116; 1987 Nos. 26, 126, 127 and 208; 1988 Nos. 323 and 
379; 1989 Nos. 4 and 64; 1990 Nos. 345 and 469; 1991 Nos. 21, 57, 92, 
120, 225, 278, 279 and 292; 1992 Nos. 102, 302, 359 and 416; 1993 No. 
259; 1994 Nos. 97, 207, 308, 331, 385 and 431; 1995 Nos. 4, 106, 143, 
238, 355, 380, 415 and 435; 1996 Nos. 23, 34, 146, 147, 223 and 242.


- NOTES


1996 No. 257*1* BANKS (SHAREHOLDINGS) REGULATIONS*2* (AMENDMENT)

- Dated 19 November 1996.