COMMONWEALTH BANK
WHETHER MAY START BUSINESS WITHOUT DEPUTY GOVERNOR : WHETHER MAY OPEN FOR BUSINESS IN ONE STATE ONLY : WHETHER CHEQUES DRAWN ON BANK SUBJECT TO STATE STAMP DUTY
COMMONWEALTH BANK ACT 1911
The Secretary to the Prime Minister has submitted the following memorandum to me for advice:
I am instructed by the Prime Minister to ask that you will be good enough to furnish advice on the following points:
- Whether the Commonwealth Bank can start without a Deputy Governor.
- Whether the Bank can be opened in one State only, or must it be opened in all States at the same time.
- Whether stamp duty would be chargeable on cheques drawn on the Common-wealth Bank.
As regards question (1), I am of opinion that the Commonwealth Bank could start without a Deputy Governor, as the Governor could do all that is legally necessary.
As regards question (2), I am of opinion that the Bank could be opened in one State only, and that it need not be opened in all the States at the same time.
As regards question (3), I am of opinion that cheques drawn by private persons on the Bank would be subject to duty, but that cheques so drawn on behalf of the Com-monwealth or any Department thereof would not be subject to duty.
[Vol. 10, p. 108]