Western Australian Repealed Regulations

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This legislation has been repealed.

STAMP REGULATIONS 1979 - REG 10

10 .         Financial institutions authorised to pay duty on cheques by return

        (1)         An application under section 52 may be made for authority in writing to cause a specified printer to print the words by “Stamp Duty Paid” on — 

            (a)         the standard cheques drawn on the applicant financial institution; or

            (b)         a specified quantity of cheques drawn on the applicant financial institution for a specified customer of that financial institution and to the specified design of that customer sanctioned by that financial institution.

        (2)         A financial institution to which an authority referred to in subregulation (1)(a) has been granted shall lodge with the Commissioner not later than the 15th day of each month a return setting out the total number of standard cheques of that financial institution — 

            (a)         on which the words “Stamp Duty Paid” have been printed; and

            (b)         which have been received during the preceding month from the printer specified in that authority.

        (3)         An application for an authority referred to in subregulation (1)(b) shall set out — 

            (a)         the serial numbers of the cheques to which; and

            (b)         the name and address of the printer, and of the customer, to whom,

                that application relates, together with — 

            (c)         the serial numbers of the cheques to which the previous or latest such application, if any, in respect of the same customer related; and

            (d)         the date of the application referred to in paragraph (c).

        (4)         An authorised financial institution shall lodge with the Commissioner not later than the 15th day in each month — 

            (a)         a return in the approved form setting out details of the total amount of duty payable on cheques — 

                  (i)         printed in accordance with the authorities granted to it; and

                  (ii)         issued during the preceding month,

                due allowance being made for cheques issued during the preceding month which are exempt from duty by virtue of section 49A or which bear stamps in respect of which the power referred to in section 15(2) has been exercised; and

            (b)         a remittance for the amount of duty payable in respect of the return referred to in paragraph (a).

        (5)         All cheques printed in accordance with an authority referred to in — 

            (a)         subregulation (1)(b) shall be serially numbered and the serial number allotted to each cheque shall be printed thereon; and

            (b)         subsection (1)(a) or (b) that are delivered to an authorised financial institution shall be included in the records of the authorised financial institution and the authorised financial institution shall account for the duty payable on those cheques to the Commissioner by way of returns lodged under subregulation (4).

        (6)         An authorised financial institution shall keep proper records of the serial numbers of all cheques issued by it — 

            (a)         on which duty is payable in respect of returns lodged under subregulation (4);

            (b)         which are exempt from duty by virtue of section 49A; or

            (c)         which bear stamps in respect of which the power referred to in section 15(2) has been exercised,

                and shall include in those records the names and addresses of the customers to whom those cheques were issued.

        (7)         A person shall not print on cheques — 

            (a)         drawn on an authorised financial institution — 

                  (i)         the words “Stamp Duty Paid” without the specific permission in the approved form of the authorised financial institution; or

                  (ii)         any words, other than “Stamp Duty Paid”, indicating or suggesting that duty has been paid thereon;

                or

            (b)         drawn on a financial institution other than an authorised financial institution the words “Stamp Duty Paid” or any other words indicating or suggesting that duty has been paid thereon.

        (8)         A person who has printed the words “Stamp Duty Paid” on any cheques for an authorised financial institution shall not, unless the Commissioner otherwise permits in writing, deliver the cheques to any person other than the authorised financial institution.

        (9)         An authorised financial institution shall not cause a printer to print the words “Stamp Duty Paid” on the cheques referred to in subregulation (1)(a) or (b) except in accordance with the authority granted to the authorised financial institution for the purpose.

        (10)         In this regulation — 

        “authorised financial institution” means financial institution to which an authority referred to in subregulation (1)(a) or (b) has been granted.

        [Regulation 10 amended in Gazette 10 November 1998 pp.6158-9.]



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