Wednesday, November 19, 2014

Australian Money: What the Banks Don't Want You to Know

Staff Writer, R. Patrick Chapman
Australia / Currency 

Do Australians know their laws, who owns their money, and how banking is done? 

Leask v Commonwealth [1996] HCA 29 (5 November 1996) "In determining whether a law is 'with respect to' a head of power in s 51 of the Constitution, two steps must be taken. First, the character of the law must be determined. That is done by reference to the rights, powers, liabilities, duties and privileges which it creates[64]. Secondly, a judgment must be made as to whether the law as so characterised so operates that it can be said to be connected to a head of power conferred by s 51. In determining whether the connection exists, the practical, as well as the legal, operation of the law must be examined[65]. If a connection exists between the law and a s 51 head of power, the law will be 'with respect to' that head of power unless the connection is, in the words of Dixon J[66], 'so insubstantial, tenuous or distant' that it cannot sensibly be described as a law 'with respect to' the head of power."

Source: Karen Hudes