Financial Institutions Duty (Clearing Account Exemption) Regulations 1996

i Financial Institutions Duty (Clearing Account Exemption) Regulations 1996 S.R. No. 84/1996 TABLE OF PROVISIONS Regulation Page 1. Objective 1 2. Authorising provisions 1 3. Instrument requirement 1 ═══════════════ NOTES 3 -- 1 of 4 -- 1 STATUTORY RULES 1996 S.R. No. 84/1996 Financial Institutions Duty Act 1982 Financial Institutions Duty (Clearing Account Exemption) Regulations 1996 The Governor in Council makes the following Regulations: Dated: 20 August 1996 Responsible Minister: ALAN R. STOCKDALE Treasurer N. C. WHITE Acting Clerk of the Executive Council 1. Objective The objective of these Regulations is to amend the Financial Institutions Duty Regulations 1992 to require SCH participants operating clearing or settlement accounts to obtain an instrument signed by the Commissioner for presentation to banks as evidence of exemption from financial institutions duty. 2. Authorising provisions These Regulations are made under sections 18(3)(o) and 86 of the Financial Institutions Duty Act 1982. 3. Instrument requirement In regulation 8(1)(p) of the 1 Financial Institutions Duty Regulations 1992, after sub-paragraph (ii) insert— -- 2 of 4 -- S.R. No. 84/1996 Financial Institutions Duty (Clearing Account Exemption) Regulations 1996 2 "and (iii) in respect of which an instrument signed by the Commissioner designating the account a clearing or settlement account of an SCH participant is in force;". ═══════════════ r. 3 -- 3 of 4 -- S.R. No. 84/1996 Financial Institutions Duty (Clearing Account Exemption) Regulations 1996 3 NOTES 1 S.R. No. 342/1992. Reprinted to S.R. No. 128/1994 and subsequently amended by S.R. Nos 112/1995, 4/1996, 28/1996 and 61/1996. Notes -- 4 of 4 --