WHEREAS it is provided by the provisions of section 16 (2) of the Companies (Application of Laws) Act 1981 that, where the Ministerial Council approves the declaration of a right or interest, or a right or interest included in a class or kind of rights or interests, for the purposes of Division 6 of Part IV of the Companies (New South Wales) Code, the Governor may make Regulations declaring that right or interest, or a right or interest included in that class or kind of rights or interests, to be, subject to such terms and conditions as are specified in the Regulations, an exempt right or interest, for the purposes of that Division:
AND WHEREAS the making of the following Regulations is in accordance with those provisions:
HIS Excellency the Governor, with the advice of the Executive Council, and in pursuance of the Companies (Application of Laws) Act 1981 and all other powers enabling him in that behalf, has been pleased to make the following Regulations:
TERRY SHEAHAN, Attorney General.
1 Name of Regulations
These Regulations may be cited as the Companies (Application of Laws) (State Bank Minder Approved Deposit Fund Exemption) Regulations 1986.
2 “Prescribed interest” exemption—State Bank Minder Approved Deposit Fund
Pursuant to section 16 (2) of the Companies (Application of Laws) Act 1981, a right of a person to participate and an interest of a depositor in the fund, known as the “State Bank Minder Approved Deposit Fund”, operated by the State Bank of New South Wales pursuant to a Trust Deed dated 7 November 1984 are declared to be an exempt right and an exempt interest for the purposes of Division 6 of Part IV of the Companies (New South Wales) Code.