Australian Capital Territory Numbered Regulations

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FINANCIAL INSTITUTIONS DUTY REGULATIONS (NO. 17 OF 1990) - REG 3

3. (1) For the purpose of paragraph 19 (1) (e) of the Act, a prescribed account is a clearing or settlement account kept by a bank which is a registered financial institution on behalf of—

        (a)     2 or more—

              (i)     building societies; or

              (ii)     credit societies; or

        (b)     a person who operates the account on behalf of 2 or more—

              (i)     building societies; or

              (ii)     credit societies.

(2) In subregulation (1), “building societies” and “credit societies” have the same respective meanings as in the Co-operative Societies Act 1939 .


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