Commonwealth Banks

No. 132 of 1965

An Act to amend the Commonwealth Banks Act 1959–1963 in relation to Decimal Currency.

[Assented to 18 December, 1965]

BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation.

1.—(1.) This Act may be cited as the Commonwealth Banks Act 1965.

(2.) The Commonwealth Banks Act 1959–1963, as amended by this Act, may be cited as the Commonwealth Banks Act 1959–1965.

Commencement.

2. This Act shall come into operation on the fourteenth day of February, One thousand nine hundred and sixty-six.

Interest on deposits.

3. Section 52 of the Commonwealth Banks Act 1959–1963 is amended by omitting from sub-section (1.) the word “pound” and inserting in its stead the word “dollar”.

Interest on deposit in respect of February, 1966.

4. In respect of the month of February, One thousand nine hundred and sixty-six, the Commonwealth Savings Bank of Australia may allow on any sum, not being less than Ten shillings or One dollar, interest in accordance with section 52 of the Commonwealth Banks Act 1959–1965.