Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1A) The object of this section is to identify the following for the purposes of the rules about external presentment of cheques by financial institutions:
(a) designated places;
(b) designated exhibition places;
(c) designated times;
(d) designated means of communication.
(1) A financial institution may, by notice in the prescribed form published in the Gazette , specify a place as a designated place in relation to cheques for the purposes of this Act.
(2) The notice shall specify:
(a) either or both of the following, namely:
(i) the cheques in relation to which the place is to be a designated place for the purpose of subsection 62(1);
(iii) the cheques in relation to which the place is to be a designated place for the purpose of subsection 62(9);
(b) the days on which, and the hours during which, the financial institution will be open for business at the place; and
(c) the means by which communications may be made to the financial institution at the place.
(2A) If the notice specifies:
(a) the cheques in relation to which the place is to be a designated place for the purposes of subsection 62(1); and
(b) exhibition as the means, or one of a number of means, by which communications may be made to the financial institution at that place;
the place is a designated exhibition place in relation to the cheques for the purposes of that subsection.
(2B) If the notice specifies:
(a) the cheques in relation to which the place is to be a designated place for the purposes of subsection 62(9); and
(b) exhibition as the means, or one of a number of means, by which communications may be made to the financial institution at that place;
the place is a designated exhibition place in relation to the cheques for the purposes of that subsection.
(2C) A time is a designated time for the financial institution at a particular place if the time is covered by the specification of the days on which, and the hours during which, the financial institution will be open for business at that place.
(2D) A means of communication is a designated means of communication for the financial institution at a particular place if the notice specifies the means as a means by which communications may be made to the financial institution at that place.
(3) The notice has effect on and from the day on which the notice is published in the Gazette or such later day as is specified in the notice.
(4) If the notice is varied or revoked, the Gazette notice of the variation or revocation must specify a day as the day on which the variation or revocation takes effect. The specified day must not be earlier than 30 days after the date of the Gazette notice of variation or revocation.