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PIPELINE AUTHORITY AMENDMENT ACT 1980 No. 109, 1980 - SECT 3

Interpretation
3. Section 3 of the Principal Act is amended-

(a) by omitting from sub-section (1) the definition of "approved bank" and
substituting the following definition:



"'approved bank' means a trading bank as defined by sub- section 5 (1) of the
Banking Act 1959 or another bank approved by the Treasurer;";

   (b)  by inserting after the definition of "Convention" in sub- section (1)
        the following definition:



"'Deputy Chairman' means the Deputy Chairman of the Authority;";

   (c)  by omitting ", and includes a person acting as the Executive Member of
the Authority" from the definition of "Executive Member" in sub-section (1);

   (d)  by omitting ", and includes a person acting as a member of the
Authority" from the definition of "member" in sub-section (1);

   (e)  by omitting ", and includes a person acting as a part-time member of
        the
Authority" from the definition of "part-time member" in sub-section (1);

(f) by omitting from sub-section (1) the definition of "Secretary" and
substituting the following definition:



"'securities' includes stocks, debentures, debenture stocks, notes, bonds,
promissory notes, bills of exchange and similar instruments or documents;";
and

   (g)  by omitting sub-section (2) and substituting the following sub-
        section:



"(2) In this Act, a reference to dealing with securities shall be read as
including a reference to-

   (a)  creating, executing, entering into, drawing, making, accepting,
        indorsing, issuing, discounting, selling, purchasing or reselling
        securities;

   (b)  creating, selling, purchasing or reselling rights or options in
        respect of securities; and

   (c)  entering into agreements or other arrangements relating to
        securities.". 


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