SAVINGS' BANK ORDINANCE. (Continued from our last) 10th Clause.

New Zealander, Volume 3, Issue 132, 4 September 1847, Page 4

SAVINGS' BANK ORDINANCE. ( Continued from our last ) 10th Clause.

Provided always, Jthat no sum or sums of money shall be paid, by way of deposit, into any bank which shall be established under this ordinance by auy person whatsoever, without disclosing his or bei name, together with his or her profession, occupation,caLing', and residence, to the person receiving the same, aud such name, profession, occupation, calling, and residence, shall forthwith be entered by the person receiving such deposit in the book wherein the entry of the said deposit is hereiubefore directed to be made. Provided always, that nothing herein contained shall prevent the said trustej* from receiving from any person of the native race, by one or more deposits,auy greater sum than £100, provided that the excess above each sum shall not bear interest as hereinafter provided. Deposits how to be first disposed of. 20. The amount of luch deposits and all other sums of money received into any such bank, shall, with all convenient speed ,be deposited in such place as shall be approved ol by the vice-president, and a majority of the trustees, aud the same shall be there placed to the credit of such bank in an account to be intituled '♦ The account «f the Vicepresident aud Trustees of the Saving's Bank," and no money so paid into such account bhall be withdrawn without the written order of two or more trustees, countersigned by the accountant, or the person for the time being acting in that capacity, being first had and obtained. Notice of withdrawal of deposits. 21. It shall be lawful for the depositor of any sum or sums of money in any such bank, or for any person duly authorised by such depositor, or for his executor, or other lawful representative, to claim and receive back such sum or sums of money, together with the interest due thereon, or any part thereof, m the manner, and upon the conditions following, that is to say .—lf the sum or sums so requiied to be repaid, shall not exceed £5, the claimant thereof shall, on some day appointed for the meeting of the trustees, deliver, or cause to be delivered, to them, or to their accountant, a notice signed with his name, declaring his intention to withdraw such sum from the batik at the expiration of 7 days fiom the date of the %aid notice.— lf the sum to be withdrawn, shall exceed £5, but be not more than £20, then 1* da) » notice shall be given iv like manner. If the sum to be withdrawu shall exceed £20, but be not more than £50, then 21 days notice shall be given in like manner. And if the sum to be withdrawn shall exceed £50 t tueu 28 dayi nolice shall be given. Rate of Interest. 22. Any person depositing with the said trustees, by one or more payments,^ any sum not less than £os., or the person on whose account such deposits may have been paid, and to whose credit they are placed in the books of any such bank, shall be entitled to receive interest upon the same, at the rate of £5 by the year for every hundred pounds, and in the same proportion for any shorter time. Provided that uo'interest shall be allowed on any sum less thau £l| or on odd shillings or pence, and that the interest shall be calculated by months, omitting odd days, but that any sums deposited within the first seven da>s of a month shall be entitled to bear interest for the whole of that month. From what source to be paid. 23. The said trustees may, and shall pay such interest at aforesaid, out of the interest received by them on sums lent out as herein provided. Provided always, that if the monies so received by the said trustees, after paying therefrom the salaries, charges, and ex pence* of any tuch bank, shall be insufficient to pay interest on deposits at the rate aforesaid—the sura or sums required to make up such deficiency, shall be payable by warrant, under the hand of the Governor for the time-being, out of the general revenue of the colony or province in which such bank may be situated. (To b* continutcU)