Banks and Bankers Act 1880
Banks and Bankers Act 1880
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Banks and Bankers Act 1880
Banks and Bankers Act 1880
Public Act |
1880 No 22 |
|
Date of assent |
17 August 1880 |
|
Contents
An Act to consolidate certain Laws relating to Banks and Bankers.
BE IT ENACTED by the General Assembly of New Zealand, in Parliament assembled, and by the authority of the same, as follows:—
1 Short Title.
The Short Title of this Act is “The Banks and Bankers Act, 1880.”
2 Interpretation.
In this Act, if not inconsistent with the context,—
“Banker” and “bank” includes any person, partnership, or corporation carrying on the business of banking:
“Officer of the Bank” includes the manager, accountant, and cashier of a bank:
“Bankers’ books” includes ledgers, day-books, cash-books, account-books, and all other books used in the ordinary business of a bank:
“Legal proceeding” means any civil or criminal proceeding or inquiry in which evidence is or may be given, and includes an arbitration:
“The Court” means the Court, Judge, Magistrate, Arbitrator, or other person before whom a legal proceeding is held or taken:
“A Judge” means a Judge of the Supreme Court of the colony.
ISSUE OF PAPER MONEY
3 Governor in Council may authorize banks incorporated by Royal Charter to issue paper money.
The Governor, by Proclamation in the Gazette, may declare that any bank incorporated by Her Majesty’s Letters Patent, and empowered to carry on the business of banking in New Zealand, and to issue and circulate therein the promissory notes of the company payable to bearer on demand, may lawfully issue and circulate such notes within New Zealand, but subject to the provisions and restrictions in such Letters Patent contained.
4 Royal Charters to have effect of Acts of the Assembly.
All Letters Patent and charters of incorporation granted or to be granted by Her Majesty to any bank shall, to all intents and purposes, be as effectual within New Zealand as Acts of the General Assembly thereof.
5 Power of Union Bank to issue notes not affected.
The authority heretofore granted to the copartnership now carrying on the business of banking in New Zealand under the style of “The Union Bank of Australia,”
to issue and circulate within the colony the promissory notes of the Company, payable to bearer on demand, shall remain unaffected by this Act:
Provided that all such notes bear date at the place of issue, and be there payable in coin of the realm or other coin lawfully current in New Zealand.
BANKERS’ RETURNS
6 Statements of assets and liabilities to be made out weekly.
Every banker in the colony shall prepare and make up returns in the form in the First Schedule to this Act, and at the dates and times hereinafter mentioned, that is to say,—
(1.)
At the close of business on Monday in every week a full and correct account and statement, in writing, of the assets and liabilities of such bank, at each place where such banker carries on the business of banking in the colony.
Quarterly abstracts to be made out and published.
(2.)
On the last Monday of each quarter ending on the last days of March, June, September, and December respectively, a general abstract in writing, from such weekly accounts and statements, of the average amount during such quarter of the assets and liabilities of every such bank.
A separate abstract shall be prepared for each place at which any banker shall issue notes payable thereat in coin on demand.
7 Statement exhibiting capital, &c, to be subjoined.
To each of such quarterly abstracts there shall be subjoined a statement exhibiting the amount of capital of such bank paid up at the close of the quarter for which such abstract shall be made up, the rate and amount of the last dividend that may have been declared to the shareholders or proprietors, and the amount of the reserved profit at the time of declaring such dividend.
As regards bankers in the colony who shall also carry on business elsewhere, it shall be sufficient to state the same several particulars according to the latest advices received in the colony.
8 Abstracts, &c, to be verified and delivered to Colonial Treasurer.
Such quarterly abstracts and statements shall be verified on the oath of the manager, or, in his absence, on the oath of the chief cashier or chief clerk of the bank at the place in respect of which the same shall be made, and shall be forthwith delivered or transmitted to the Colonial Treasurer, or to such other public officer as the Governor may appoint.
9 Abstracts to be published.
Every such quarterly abstract and statement, or an abstract or statement compiled therefrom, including all the places of business in the colony of any one bank in one abstract, shall be published, as soon as conveniently may be, in the Gazette.
10 Penalty for neglecting to keep accounts and make returns.
If any banker shall neglect to keep such weekly accounts and statements, or to make out and deliver or transmit, within ten days after the termination of the quarter, such quarterly abstracts and statements, as herein provided, he shall be liable to a penalty of five hundred pounds.
Penalty for making false statement or return.
If any manager, chief cashier, or clerk, verifying any such abstract or statement, shall deliver or transmit as aforesaid any statement, or account, or abstract knowing the same to be false in any particular, he shall be liable to a penalty of one hundred pounds.
11 Onus of proof.
In any action for any penalty under this Act, the onus of proving that such weekly accounts and statements have been kept, and such quarterly abstracts and statements have been made out and delivered or transmitted, shall be on the banker.
12 Recovery of penalties.
Every penalty imposed by this Act shall be recovered only by action in the Supreme Court by and in the name of Her Majesty’s Attorney-General for the colony, and no action shall lie against any person for any such penalty unless the same shall be commenced within two years from the time the offence shall be alleged to have been committed.
13 Oaths to be taken before Justice of the Peace; penalty for false oath.
Every oath required to be taken under the provisions of this Act may be taken before any Justice of the Peace, who is hereby authorized to administer the same, and any person who shall wilfully take a false oath shall be deemed guilty of perjury and punishable accordingly.
14 Governor to appoint times for preparation of returns.
The Governor, by warrant gazetted, may vary for every or any banker at every or any place within the colony the several days and times provided for the making and preparation of the above-mentioned accounts and statements and abstracts respectively:
Provided that such accounts and statements and abstracts made and prepared in any one year shall not be less in number than provided by this Act, and shall be made and prepared at regular intervals of time.
EVIDENCE.
15 Entries in books by affidavit admissible in evidence.
The entries in bankers’ books shall be admissible in all legal proceedings as primȃ facie evidence of the matters, transactions, and accounts recorded therein, on proof being given by the affidavit in writing of one of the partners, or officers of such bank, or by other evidence, that such books are or have been the ordinary books of such bank, and the said entries have been made in the usual and ordinary course of business, and that such books are in or come immediately from the custody or control of such bank.
Nothing in this section shall apply to any legal proceeding to which any bank shall be a party whose books may be required to be produced in evidence.
16 Originals need not be produced.
Copies of all entries in any banker’s books may be proved in all legal proceedings as evidence of such entries, without production of the originals, by the affidavit of a person who has examined the same, stating the facts of such examination, and that the copies sought to be put in evidence are correct,
17 Proviso as to notice to parties in a suit.
No banker’s book, and no copies of entries therein contained, shall be adduced or received in evidence under this Act unless five days’ notice in writing, or such other notice as may be ordered by the Court, containing a copy of the entries proposed to be adduced, and of the intention to adduce the same in evidence, shall have been given by the party proposing to adduce the same in evidence, to the other party or parties to the said legal proceeding; and such other party or parties is or are at liberty to inspect the original entries and the accounts of which such entries form a part.
18 Power under order of Court to inspect books and take copies.
On the application of any party to any legal proceedings who has received such notice, a Judge may order that such party be at liberty to inspect and to take copies of any entry or entries in a banker’s book relating to the matters in question in such legal proceedings, and such orders may be made by such Judge, at his discretion, either with or without summoning before him such bank or the other party to such legal proceedings, and shall be intimated to such bank at least three days before such copies are required.
19 Judge may order that copies are not admissible.
On the application of any party to any legal proceedings who has received notice, a Judge may order that such entries and copies mentioned in the said notice shall not be admissible as evidence of the matters, transactions, and accounts recorded in a banker’s book.
20 Bank not compellable to produce books except in certain cases.
No bank shall be compellable to produce the books of such bank in any legal proceedings, unless a Judge specially orders that such books should be produced at such legal proceedings.
BANKERS’ DRAFTS.
21 Drafts crossed with name of a banker payable to him only.
In every case where a draft on any banker, made payable to bearer or to order on demand, bears across its face an addition in writing or stamped letters of the name of a banker, such draft shall be payable only to or through such banker.
Drafts crossed generally payable to some banker only.
(1.)
Where such draft bears across its face an addition in writing or stamped letters of the words “Company”
or “Bank,”
in full or abbreviated, such draft shall be payable only to or through some banker.
Drafts crossed with names of bankers payable to either of them only.
(2.)
Where such draft bears across its face an addition in writing or stamped letters of the names of two or more bankers, such draft shall be payable only to either or any one of such bankers.
Addition to draft deemed to be material part thereof.
Provided always that, whenever any such addition shall have been made to any such draft as aforesaid, such addition shall to all intents and purposes whatsoever be deemed and taken to be a material part of the draft across the face of which such addition shall have been written.
BANK HOLIDAYS.
22 Bank holidays throughout colony.
The several days in the Second Schedule to this Act mentioned (and which days are in this Act hereinafter referred to as bank holidays) shall be kept as close holidays in all banks in New Zealand.
23 Bills due on bank holidays to be payable on the day following.
All bills of exchange and promissory notes which are due and payable on any such bank holiday shall be payable, and in case of non-payment may be noted and protested, on the next following day, and not on such bank holiday; and any such noting or protest shall be as valid as if made on the day on which the bill or note was made due and payable.
24 Provision as to notice of dishonor and presentation for honor.
When the day on which any notice of dishonor of an unpaid bill of exchange or promissory note should be given, or when the day on which a bill of exchange or promissory note shall be presented or received for acceptance, or accepted or forwarded to any referee or referees, is a bank holiday, such notice of dishonor shall be given, and such bill of exchange or promissory note shall be presented or forwarded, on the day next following such bank holiday.
25 As to payments on bank holidays.
No person shall be compellable to make any payment or do any act upon such bank holidays which he would not be compellable to do or make on Christmas Day or Good Friday;
The obligation to make such payment and do such act shall apply to the day following such bank holiday; and the making of such payment and doing such act on such following day shall be equivalent to payment of the money or performance of the act on the holiday.
26 Day following bank holiday.
For all the purposes of this Act the day next following a bank holiday shall mean the next following day on which a bill of exchange may be lawfully noted or protested.
27 Special bank holidays may be appointed by banker.
Any banker may appoint any day to be observed as a special bank holiday at the bank under his direction or control, by public advertisement of such day not less than three times in some newspaper circulating at the place where such bank is situate, within ten days immediately preceding such day.
Every such advertisement shall be signed by the manager or other principal officer in charge of the bank, and a copy of such notice shall be kept affixed in some conspicuous place on the outside of the bank premises for at least three days before such day.
Such day shall be a special bank holiday only at the bank giving the notice herein required.
Every special bank holiday shall be deemed to be a bank holiday within the meaning of this Act.
REPEALS.
28 Repeal of Acts.
The Acts enumerated in the Third Schedule hereto are hereby repealed.
SCHEDULES
FIRST SCHEDULE Bank Return.
Form of bank return. Sec. 6.
Statement of the Average Amount of Liabilities and Assets of the Bank at , during ended .
| Liabilities. | Assets. | |||
|---|---|---|---|---|
| Notes in circulation | £ | Coined gold and silver, and other coined metal | £ | |
| Bills in circulation | Gold and silver in bullion or bars Notes and bills of other banks | |||
| Balances due to other banks | Balances due from other banks | |||
| Landed property | ||||
| Government deposits | Amount of all other securities— | |||
| 1. Notes and bills discounted | ||||
| Other deposits | Not bearing interest | 2. Colonial Government securities | ||
| Bearing interest | 3. Other funded securities | |||
| 4. Debts due to bank (exclusive of debts abandoned as bad) | ||||
| 5. Securities not included under the above heads | ||||
| Total average liabilities | £ | Total average assets | £ | |
Amount of the capital stock paid up at the close of the quarter ended , 18 :
Rate of the last dividend declared to the shareholders:
Amount of the last dividend declared:
Amount of the reserved profits at the time of declaring such dividend:
Dated at , this day of , 18 .
I., A.B., swear that to the best of my knowledge and belief the foregoing abstract is a time and faithful account of the average amount of assets and liabilities at of the above-named bank, during the period specified, and that the same was made up from the weekly accounts and statements thereof kept in pursuance of “The Banks and Bankers Act, 1880.”
A.B.
Sworn at , this day of , 18 , before me,
C.D., Justice of the Peace.
SECOND SCHEDULE Bank Holidays
Sec. 22.
| New Year’s Day, | The ninth day of November, |
| Good Friday, | Christmas Day, |
| The day after Good Friday, | The twenty-sixth day of December, |
| Easter Monday, | Saint Patrick’s Day, |
| Whit-Monday, | Saint George’s Day, |
| The twenty-fourth day of May, being the Queen’s Birthday, | Saint Andrew’s Day. |
THIRD SCHEDULE Acts Repealed.
Sec. 28.
1856, No. 4.—The Bank Paper Currency Act, 1856.
1858, No. 34.—The Bankers’ Returns Act, 1858.
1858, No. 62.—The Bankers’ Draft Act, 1858.
1860, No. 10.—The Bankers’ Returns Act Amendment Act, 1860.
1873, No. 6.—The Bank Holidays Act, 1873.
1877, No. 16.—The Bankers’ Books Evidence Act, 1877.
1878, No. 25.—The Bank Holidays Amendment Act, 1878.
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Banks and Bankers Act 1880
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