No. 263. 28 VICTORIA, or to give evidence, or shall wilfully alter suppress conceal destroy or refuse to produce any books deeds contracts agreements accounts maps plans surveys valuation or writing or copies of the same which may be required to be produced for the purposes of this Act to any persons authorised by this Act to require the production thereof, every person so offending shall be deemed to be guilty of a misdemeanor and on conviction thereof shall be punished accordingly. Each savings bank to be a separate institution. Formation of new savings banks. trustees. tees. 10. Each savings bank shall be a separate and independent institution and shall have separate and distinct trustees and officers; but the trustees of any savings bank at the time of the commencement of this Act shall if willing to act continue to be trustees thereof respectively under the provisions of this Act without any re-appointment; and the trustees and officers of each savings bank shall keep and render to the commissioners such accounts statements and returns and do all lawful acts as the commissioners shall by any order or orders direct and appoint. 11. The commissioners may establish a savings bank in any place in Victoria where they may deem it expedient to do so, giving notice thereof in the Government Gazette, and may constitute and appoint any two or more persons to be the trustees of such savings bank; and the said commissioners may remove from his office the trustee of any savings bank who shall leave Victoria or become incapable or neglect to perform the duties of his office, and also may accept as hereinafter mentioned the resignation of any member deAppointment of sirous to retire therefrom, and from time to time may constitute and appoint some proper person as trustee in the room of and as successor to any trustee so removed or resigning as aforesaid or dying; and the said commissioners may empower the trustees of any savings bank to open an office and if the commissioners shall so direct to build and fit up a banking house for the receipt and repayment of deposits and the transactions generally of the business of a savings bank at such place and at such time as the commisOfficers of trus- sioners shall name; and such trustees shall be empowered to appoint an actuary clerk cashier porter or other officer and servants of such savings bank and to pay them salaries or other remuneration respectively according to the circumstances of each case and subject to the approval of the said commissioners, who shall thereupon issue to the said trustees or their officer or officers general and other orders and rules for the management and control of the said savings bank and guidance and information of the said trustees their officers and servants and the depositors and others transacting business with such trustees and as regards the repayment of deposits or the payment of interest or other profits to the depositors and as regards the investment disposition or application of any funds raised from the depositors or any other source whatever by them in the capacity of Books and forms. trustees, and shall issue to the said trustees and their officers from time to time proper books forms of account notices and all other matters proper and necessary for the conduct and management of such savings bank which may be required in each particular or shall authorise and empower the said trustees to procure the same; and in like manner the commissioners shall from time to time appoint any other person to be a trustee or trustees of such savings bank. No. 263. found to act for paid manager trustees. Provided that in case no fit persons shall be found to become or act 28 VICTORIA, as trustees for any savings bank now or hereafter to be established or for any cause there shall cease to be trustees the said commis- Proviso if no sioners as and when they shall think fit so to do may appoint a fit trustees can be person to be a manager of such savings bank who shall be to all appointment of intents and purposes the trustees of such savings bank and shall with like powers. perform the like duties and have the same power and authorities as the trustees of any savings bank would have under this Act in case such were duly appointed; and the said manager shall give such security and have such salary or allowances as to the said commissioners shall seem proper. Provided also that in case of the dis- Removal of obedience or infraction by the servants or officers of any savings bank of the general or other orders and rules and in case the commissioners shall think proper to do so, the commissioners by order may remove any trustee or trustees of any such savings bank and in like manner may dismiss any actuary or other officer or servant of the said savings bank and may appoint another or others in the place of the person or persons so removed or dismissed, or in case the commissioners shall think it expedient so to do may dissolve such savings bank and may wind up the affairs and may pay and discharge or cause to be paid or discharged all claims and demands of the depositors and others; and the commissioners shall notify such intended dissolution one month prior thereto in the Government Gazette. 12. It shall and may be lawful to and for any trustee of any Resignation of savings bank now or hereafter to be established to resign or with- trustees. draw from his office as such trustee, provided that such trustee shall give such notice in such form as the commissioners in any order shall direct; and upon the satisfactory passing of the accounts of such savings bank and upon the same being certified and verified by the auditor or auditors as hereinafter mentioned all liability whatever of such trustee and of his executors and administrators (if any) in respect of such savings bank or of the claims or demands of any depositor therein shall cease. vantage. 13. No person being a commissioner or trustee of any savings Trustees not to bank or being in anywise concerned in the management thereof derive any ad(save as is herein provided) shall be allowed to borrow from or to 9 Geo. IV. c. 92 receive directly or indirectly any salary allowance profit or benefit 9. 6. whatsoever from the funds of the said savings bank or to act in the capacity of actuary accountant or clerk of such savings bank. Provided that nothing herein contained shall prevent such trustee or his wife or any child of his being an infant under the age of twentyone years from opening an account as a depositor in such savings bank or from receiving any interest or other profit fairly and properly due and payable or allowed in respect of such account. security. 14. The actuary accountant cashier clerk or other officer in- savings bank trusted with the receipt or custody of money deposited in any officers to give savings bank shall enter into such security to such person or per- Ib. s. 7. sons to such amount and in such form and with such conditions 26 & 27 Vict. respectively for the due and faithful performance of the duties of such actuary accountant cashier and clerk or other officer (as the case may be) as the commissioners shall by any order direct: and c. 87 s. 8. No. 263. 28 VICTORIA, upon breach of such conditions respectively it shall be lawful for the person to whom such security shall be given to take such proceedings thereon as may be proper in each case. Trustees not liable except for 15. No commissioner or trustee shall be personally liable their own acts &c. except for his own acts and deeds, or for anything done by him in 9 Geo. IV. c. 92 virtue of his office in the execution of this Act except in cases where he shall be guilty of wilful neglect or default. • s. 9. 26 & 27 Vict. c. 87 s. 11. Persons entrusted with money &c to render same when called upon. 8. 10. Neglect or 16. Every person who shall have or receive any part of the moneys effects or funds of or belonging to any savings bank or shall in any manner have been or shall be intrusted with the disposition management or custody thereof or of any securities books or papers 9 Geo. IV. c. 92 relating to the same, and every person to whom the same shall have come in any capacity or in any manner his executors administrators and assigns respectively, shall upon demand made in pursuance of any order of the commissioners give in his account to the person named in such order for the purpose of receiving the same to be examined and allowed or disallowed by the auditor or auditors or other officer or officers of the said commissioners respectively; and shall on like demand pay over all the moneys remaining in his hands and assign and transfer or deliver all securities and effects books papers and property in his hands power or custody to such person so named in such order. And in case of any neglect or refusal a misde- refusal to deliver such account or to pay over such moneys or to assign transfer or deliver such securities effects funds books papers or property in manner aforesaid, such person so offending shall be deemed to be guilty of a misdemeanor and on being convicted thereof shall be punished accordingly. And upon such neglect or refusal it shall be lawful for the comptroller to make a report of the circumstances connected therewith to be verified by the affidavit affirmation or declaration of any person or persons cognizant of such Supreme Court circumstances to the Supreme Court or any judge thereof, who shall and may proceed thereupon in a summary way on motion and make such order therein upon hearing all parties concerned upon any affidavits or viva voce as to such court or judge in his or their discretion shall seem just; which order shall be final and conclusive, and all assignments sales and transfers made in pursuance of such order shall be good and effectual at law and in equity to all intents and purposes whatsoever. meanor. or judge may summarily. deal Deposits in hands transmitted to commissioners. 17. From and after the commencement of this Act all deposits of trustees to be received at the Melbourne Savings Bank, except such proportion thereof as from time to time the commissioners shall by general or other order authorise the trustees or their officers to retain for the repayment of the demands of depositors, shall within one week from their receipt be paid into such bank in the city of Melbourne as shall be named and appointed for that purpose from time to time by any order of the commissioners to the credit of an account to be called "The Account of the Commissioners of Savings Banks in the colony of Victoria ;" and the cashier or other officer of such bank is hereby required to receive all such deposits or moneys and to place the same into the account to be raised or opened in the names of such commissioners and to render such accounts in respect thereof as the commissioners shall require. Provided always that previous No. 263. to any payment being made into any such bank the person or per- 28 VICTORIA, sons making the same shall in all cases lodge with the secretary at the office of the said commissioners at Melbourne an order under the hands of any one or more of the trustees of the said savings bank directing such payment to be made. All deposits received at any other savings bank in Victoria shall (except as aforesaid) be remitted to the commissioners by drafts on some bank in Melbourne payable at sight to the order of the commissioners or in such other manner as the commissioners may from time to time direct. missioners. 18. The amounts of deposits so received from the trustees of Trustees' acany savings bank shall be entered to the credit of the trustees of counts with comsuch bank in an account current with them to be kept in the commissioners' books; and such account shall also be credited on the thirtieth day of June in every year with all expenditure by the trustees which the commissioners may have authorised or sanctioned for the management of the business of such bank and with the amount of interest which shall have been allowed by the trustees of such bank to the depositors during the previous twelve months at the rates to be fixed and ordered from time to time by the commissioners. trustees to de made and added of June. 19. All interest which shall become due and payable to each calculation of depositor on any sum of money deposited in a savings bank shall interest due by be calculated and computed by the trustees of such savings bank or positors to be their proper officer once in each year up to the thirtieth day of June yearly on 30th and shall be carried to the credit of the account of such depositor 4 Geo. IV. c. 92 and an entry thereof shall be made in such account before any other 8. 17. entry shall be made therein, and the same shall thereupon become principal and shall thenceforth carry interest in all respects as other principal money deposited in such savings bank. Provided that no fractional part of any month shall be taken into such computation nor shall any interest less than one penny nor any fractional part of a penny on account of interest be added to such account. Ib. s. 18. 20. The trustees of every savings bank shall make give sign Trustees to and execute an appointment in such form as shall be directed by the appoint agents. commissioners empowering and authorising some person or persons 26 & 27 Vict. named in such appointment to be agent or agents for receiving all c. 87 s. 24. and every such sum and sums of money as such trustees shall from time to time require to be paid by such commissioners and for paying money to the commissioners to the credit of such trustees; and it shall be lawful for the trustees of such savings bank from time to time in like manner and form with the consent of the commissioners to revoke such appointment and to appoint any former agent or agents or any other person or persons to be agent or agents for the said trustees for the purposes hereinbefore mentioned; and such appointment revocation or new appointment as the case may be shall be deposited with the proper officer of the commissioners before any sum or sums of money shall be paid to or received from such agent or agents on account of such trustees. their balance 21. The trustees of any savings bank may from time to time by Trustees may any draft or order in writing under the hands of any two of them draw a portion of attested by a credible witness according to such form as the commis- from commissioners shall from time to time direct require that such sum standing sioners. No. 263. 9 Geo. IV. c. 92 s. 19. 28 VICTORIA, in the books of the commissioners to the credit of such trustees as may be required to meet the demands of depositors in such savings bank over and above the sum in the hands of the trustees thereof shall be paid to the agent or agents for the time being of such trustees; and all payments made in pursuance of such drafts or orders shall be deemed and taken to be payments made by the said commissioners to the trustees of such savings bank. 26 & 27 Vict. c. 87 s. 25. Maximum of interest to depositors. 22. The interest payable to depositors by the trustees of any savings bank shall be fixed and determined from time to time by the 9 Geo. IV. c. 92 commissioners and shall not exceed the rate of four pounds per centum per annum. s. 24. Minors may make deposits. Ib. s. 25. 26 & 27 Vict. c. 87 s. 30. Deposits by married women. 8. 26. 26 & 27 Vict. c. 87 s. 31. 23. In case the trustees of any savings banks shall receive or shall have received any deposit of money from or for the benefit of any person under the age of twenty-one years, it shall be lawful for the trustees of such institution to pay such person his or her share and interest in the funds of such institution; and the receipt of such person attested by one witness shall be a sufficient discharge notwithstanding such person's infancy. 24. It shall be lawful for the trustees in any savings bank to 9 Geo. IV. c. 92 pay any sum of money to a married woman in respect of any deposit made by her without notice of her marriage, unless the husband of such woman shall give to such trustees notice in writing of such marriage and shall require payment to be made to him; in which event it shall be lawful for such trustees in their discretion to pay all or such portion of such money so deposited by such woman less by the repayments (if any) theretofore made therefrom together with any interest or profits due in respect of the same to such husband or to such woman as to them the said trustees shall seem proper. Friendly and ties may make deposits. 9 Geo. IV. c. 92 ss. 27 & 28. 26 & 27 Vict. c. 87 ss. 31 & 32. 25. It shall be lawful for all friendly societies legally established charitable socie- and for all charitable societies by their treasurer or other proper officer in that behalf appointed to pay into any savings bank all or any portion of the funds of such friendly or charitable society so established respectively, and as an ordinary depositor to receive the usual rate of interest allowed by such savings bank to the depositors therein, and by such treasurer or such other proper officer to receive back all or any portion of the funds due on such account to such society; and the receipt of such treasurer or other officer shall be a sufficient discharge to such savings bank in respect of any such payment or payments. Maximum of individual deposits. 9 Geo. IV. c. 92 8. 35. 26 & 27 Vict. c. 87 s. 39. 26. It shall not be lawful for the trustees of any savings bank to receive from any depositor any deposit less than one shilling nor more than one thousand pounds unless the Supreme Court or some judge thereof shall so order. Provided that so long as the balance to the credit of any such depositor shall (including principal and interest) exceed five hundred pounds or such other less sum as the commissioners may by a general order from time to time appoint, no interest shall be allowed paid or payable on such excess. (a) Deposits by married women are deemed to 34 Vict. No. 384 s. 6, ante, p. 1680. be their separate property and payable to them, |