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Guide to Australian Business Records
Statutory Authority
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Commonwealth Bank of Australia [i] (1912 - 1960) |
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Established under the Fisher government's Commonwealth Bank Act 1911, the bank commenced operations in 1912. During the 1920s and 1930s the bank's functions included those of a central bank. This was increasingly so during the 1940s and 1950s. In 1959 the Menzie's government enacted the Commonwealth Bank Act 1959 and the Reserve Bank Act 1959. These acts formally separated the central banking function from the Commonwealth Bank of Australia and came into effect in 1960. The central bank functions transferred to the Reserve Bank of Australia and the Commonwealth Bank of Australia's name was changed to the Commonwealth Banking Corporation. |
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Published by Archive Research Consultancy, 1999-2006 Submit any comments, questions, corrections and additions Updated: 3 December 2006 http://www.gabr.net.au/biogs/ABE0058b.htm |