19. Banking of bankable money received by officials

Guide to this section

The purpose of this section is to require officials who receive bankable money to deposit the money in a bank either by the next banking day or within the period prescribed in the accountable authority’s instructions.

This section is made for subparagraph 55(2)(a)(i) of the Act.

(1) An official of a Commonwealth entity who receives bankable money must deposit the money in a bank:

(a) before the end of the next banking day; or

(b) if the instructions of the accountable authority of a Commonwealth entity that is responsible for the money prescribe a period in which the money must be so deposited - before the end of that period.

Note: The accountable authority referred to in paragraph (1)(b) may be the accountable authority of the same Commonwealth entity as the official or it may be the accountable authority of a different Commonwealth entity.

(2) A banking day is a day other than a Saturday, a Sunday or a day that is a public holiday in the place where the money was received.

Last updated: 13 January 2016