Weekend Bank Trading
Schedule 6 of the Banks and Bank Holidays Act 1912 regulates the trading hours of banks on weekends in New South Wales.
Application for weekend bank trading
A bank may apply to the Director-General of the NSW Department of Services, Technology and Administration for approval to open the bank, or one or more branches of the bank, in New South Wales on Saturdays and/or Sundays.
An application must be:
- made in writing,
- accompanied by such information as the Director-General requires to determine the application see Guidelines, and
- accompanied by the fee prescribed in the regulations.
The Director-General may:
- grant an approval unconditionally or subject to conditions, or
- refuse to grant an approval
In determining an application for an approval, the Director-General is to consider whether granting the approval would be in the interests of the public, taking into account the likely effect of granting the approval on particular sections of the public, including customers of the bank concerned in any particular area (whether or not an area the subject of the application) and persons employed or engaged (whether or not by the bank) to perform services for the bank.
The Director-General may request the applicant to provide such further information as the Director-General considers relevant. The Director-General may refuse to grant an approval if the applicant does not comply with such a request.
If the Director-General grants an approval, the Director-General issues the bank with a written approval that sets out any conditions applying to the approval.
If the Director-General refuses an application, the notice of the refusal is provided to the applicant in writing, setting out the reasons for the refusal.
The Director-General is obliged to deal with an application for weekend bank trading within a period of 40 days (or such longer period as the Director-General determines with the consent in writing of the applicant).
Varying, suspending or cancelling approval for weekend bank trading
The Director-General may vary the conditions of any bank's approval to trade on weekends, or suspend or cancel an approval.
An approval may be suspended or cancelled only if:
- the bank that holds the approval has contravened a condition of the approval, or
- the Director-General considers that it is no longer in the interests of the public for the approval to remain in force, or
- the bank has requested the suspension or cancellation.
Review by Administrative Decisions Tribunal of decisions relating to approval
A bank or an industrial organisation of which persons employed or engaged to perform services for a bank are entitled or eligible to belong may apply, who is aggrieved by any decision of the Director-General may apply to the Administrative Decisions Tribunal for a review of the decision.