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Most states do not allow a person to have an interstate commercial driving job if the person does not "reside" in that state.

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Video does not play. Amateur , Blonde , Brunette. The Payment Systems and Netting Act gives the board power in areas of the law that were previously uncertain. It removed the zero hour rule that allowed a bankruptcy to date a bankruptcy the previous midnight and the Act made it so payments the same day could not be undone.

Before the removal of the zero hour rule, the Real Time Gross Settlement system had been violated because payments in the system should inherently not be reversed. Some payments systems had previously agreed to pay and receive obligations to the whole system, rather than merely maintaining their own.

But in the event of a bankruptcy, the bankrupt institution did not pay what it owed back to the solvent parties, while they had to pay their dues to the failed bank. This was later changed, when cheques were deemed void if the bankrupt institution doesn't have the funds to back them up, after the Cheques Act was amended in The Trade Practices Act generally does not allow competitors to make cooperative agreements, but if the Australian Competition and Consumer Commission ACCC is permitted to make exceptions for competitors making agreements among themselves.

Members of the Payment Systems Board are defined by Section 25A of the Reserve Bank Act , with three of the members being ex officio or representatives of another organisation.

In addition, there are up to five other members of the board that are appointed by the Treasurer for a term up to five years in length. They meet once per quarter, with five members forming a quorum , and one meeting per year is generally held in Melbourne, while the rest are held in Sydney. The Chairman is to meet with the Chairman of the ACCC at least once annually on issues of interest to both parties in the payments system, in addition to members of both organisations consulting over issues that are mutually important.

The current members of the Payments System Board are: The governor of the Commonwealth Bank of Reserve Bank of Australia was both an ex officio member of the Notes Board from to and of the eight directors of the Commonwealth Bank from to The Commonwealth Bank and Bank Acts in clearly stated the governor's responsibilities of managing the bank.

In , legislation established a member board which the governor is a member of. The bank has maintained a similar structure ever since the legislation. The governor is required by the Reserve Bank Act to keep in contact with the Secretary on matters concerning both the Treasury and Reserve Bank and vice versa. It is also mandated that the board inform the government of the bank's monetary and banking policy, which is often accomplished through the governor's meetings with the Treasurer.

Since , the governor and other senior members of the bank have appeared twice annually before the House of Representatives Standing Committee on Economics to explain the conduct of the bank. The longest-serving governor, if his service to both the Commonwealth Bank and the Reserve Bank of Australia are included, is H. Coombs , who served nineteen years and six months combined. The shortest-serving governor by many years is James Kell, who served 2 years for the Commonwealth Bank.

From Wikipedia, the free encyclopedia. Australia portal Banks portal. Reserve Bank of Australia. Archived from the original on 14 May Archived from the original on 17 January Retrieved 10 June Archived from the original PDF on 20 July Retrieved 7 June Museum of Australian Currency Notes. Archived from the original on 22 May Retrieved 10 July Archived from the original on 13 September Dictionary of Australian Biography.

Australia Dictionary of Biography. Department of the Environment. Retrieved 1 October Retrieved 23 September Capital control Discount rate Interest rates Money creation Open market operation Sovereign wealth fund.

List of central banks Central banks and currencies of Africa Central banks and currencies of Asia-Pacific Central banks and currencies of the Caribbean Central banks and currencies of Europe Central banks and currencies of Central America and South America. States and territories Capitals Cities. Financial system Official cash rate Banking.





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