Australian Capital Territory Numbered Acts

FINANCIAL INSTITUTIONS (APPLICATION OF (NO 28 OF 1992)

TABLE OF PROVISIONS

           Long Title

   PART I--PRELIMINARY SHORT TITLE

   1.      This Act may be cited as the Financial Institutions (Application of Laws) Act 1992.  
   3.      In this Act—“AFIC” means the Australian Financial Institutions Commission established by the AFIC Act; “AFIC Act” means the Australian Financial Institutions Commission Act 1992 of Queensland; “AFIC (ACT) Code” means the provisions applying because of section 5; “AFIC (ACT) Regulations” means the provisions applying because of section 6; “Appeals Tribunal” means the Australian Financial Institutions Appeals Tribunal established under the AFIC Act; “commencement day” means—  
   4.      In this Act, a reference to a Queensland Act includes a reference to—  

   PART II--AFIC (ACT) CODE AND AFIC (ACT) REGULATIONS

   7.      In the AFIC (ACT) Code and the AFIC (ACT) Regulations—“Financial Institutions Code” means the Financial Institutions (ACT) Code; “Legislature of this State” means the Legislative Assembly; “Magistrate” has the same meaning as in the Magistrates Court Act 1930; “Premier” means the Chief Minister; “the Code” means the AFIC (ACT) Code; “this State” means the Territory.  

   PART III--FINANCIAL INSTITUTIONS (ACT) CODE AND FINANCIAL INSTITUTIONS (ACT) REGULATIONS

   10.     In the Financial Institutions (ACT) Code and the Financial Institutions (ACT) Regulations—“AFIC Code” means the AFIC (ACT) Code; “continuing association” and “continuing association of credit unions” mean the A.C.T. Credit Union Association Co-operative Limited; “continuing building society” means a building society registered under the previous law immediately before the commencement day; “continuing credit union” means a credit society registered under the previous law immediately before the commencement day; “continuing foreign society” means a body which, immediately before the commencement day—  

   PART IV--CONFERRAL OF FUNCTIONS AND POWERS

   11.     AFIC has the functions and powers conferred or expressed to be conferred on it by or under the scheme legislation of the Territory.  
   12.     The Australian Financial Institutions Appeals Tribunal established under the AFIC Act has the functions and powers conferred or expressed to be conferred on it by or under the scheme legislation of the Territory.  
   13.     Jurisdiction is conferred on the Supreme Court of Queensland in the matter of—  

   PART V--STATE SUPERVISORY AUTHORITY REGISTRAR OF FINANCIAL INSTITUTIONS

   14.     The office of Registrar of Financial Institutions established under the Financial Institutions (Supervisory Authority) Act 1992 is the State supervisory authority for the purposes of the scheme legislation of the Territory.  

   PART VI--APPLICATION TO THE CROWN CROWN IS BOUND

   PART VII--IMPOSITION OF FEES AND OTHER AMOUNTS

   16.     This section imposes the fees that the Financial Institutions (ACT) Regulations or the AFIC (ACT) Regulations prescribe.  

   PART VIII--GENERAL ACTION BY THE CHIEF MINISTER UNDER AFIC REPORT

   20.     All fees, fines, penalties and other money which, under or by virtue of the scheme legislation of the Territory, are authorised or directed to be imposed on any person and are not, under that legislation, fees, levies, contributions, loans or other amounts payable to a specified person shall be paid to the Territory.  

   PART IX--TRANSITIONAL INTERPRETATION

   21.     In this Part, unless the contrary intention appears, a word or expression has the same meaning as in the Financial Institutions (ACT) Code (referred to in this Part as “the Code”).  
   25.     A direction of the Registrar of Co-operative Societies in force under section 58A of the previous law immediately before the commencement day is to be taken to be a direction of the SSA under section 89 of the Code.  
   27.     On and from the commencement day, each record and each other document in relation to the affairs of a continuing society held by the Registrar of Co-operative Societies for the purposes of the previous law—  
   31.     For the purposes of the investigation by the National Deposit Insurance Corporation Limited of a matter arising before the commencement day, section 5C of the previous law continues to apply in relation to the records of a continuing building society as if—