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FINANCIAL SECTOR LEGISLATION AMENDMENT ACT (NO. 1) 2000 NO. 160, 2000 - SCHEDULE 4
- Miscellaneous amendments
Australian Prudential Regulation Authority Act 1998
1 Subsection 3(1)
(definition of officer of the Reserve Bank Service)
Omit "an officer",
substitute "a person".
1A Paragraph 56(2)(c)
Omit "or (7B)", substitute ",
(7B) or (7C)".
1B After subsection 56(7B)
Insert:
- (7C)
- If information
referred to in subsection (7A) or paragraph (7B)(a) that relates to
a body that is, or has at any time been, regulated by APRA under the
Superannuation Industry (Supervision) Act 1993 is disclosed to the Registrar
of the Australian Business Register established under section 24 of the A
New Tax System (Australian Business Number) Act 1999 , the Registrar may enter
the information in that Register.
- Note: A defendant bears an evidential burden in relation to the matters in
subsection (7C) (see subsection 13.3(3) of the Criminal Code ).
Financial Corporations Act 1974
2 Paragraph 22A(1)(b)
Omit "a member",
substitute "a staff member".
3 Subsection 22A(6) (definition of Reserve Bank
Service)
Omit "subsection 66(2)", substitute "section 66".
Financial Sector Reform (Amendments and Transitional Provisions) Act
(No. 1) 1999
4 Paragraph 3(2)(e)
Omit "subsections (12), (14) and
(15)", substitute "subsection (12)".
5 Subsections 3(14) and (15)
Repeal the subsections.
- Note: These subsections have become redundant
because the conditions for their operation have failed.
Retirement Savings Accounts Act 1997
6 At the end of section 8
Add:
- (2)
- However, an RSA , or retirement savings account , can only be provided by
a life insurance company as a policy.
- Note: Section 16 provides that policy has the same meaning as in the
Life Insurance Act 1995 .
Superannuation (Resolution of Complaints) Act 1993
7 Subsection 7(1)
Omit
"nor more than 10".
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