New South Wales Consolidated Acts

FINANCIAL SECTOR REFORM (NEW SOUTH WALES) ACT 1999 - SECT 43

43 Friendly Societies Code provisions

(1) Subdivision 2 of Division 2 of Part 2 (other than sections 31, 35 and 38), Divisions 3 and 4 of Part 4A, Part 10 and sections 460, 465, 466 and 471 of the Friendly Societies Code, and the other provisions of the Code relevant to that Subdivision, those Divisions, that Part or those sections, continue to apply on and after the transfer date in relation to anything done or omitted to be done before that date as if section 17 (1) had not commenced.

(2) Despite subsection (1), a provision, or part of a provision, applying under that subsection that creates an offence is not limited in its application to anything done or omitted to be done before the transfer date.

(3) For the purposes of the application mentioned in subsection (1):

(a) a reference in the Code to the SSA is taken to be a reference to either relevant Commonwealth body, and

(b) a reference in the Code to a society is taken to be a reference to an entity that on the transfer date is a company under the Corporations Law and that, immediately before that date, was a society under the Code, and

(c) in section 32 (1) of the Code, the words “the friendly societies legislation” are taken to be omitted and the words “investigating whether an offence against the friendly societies legislation has been committed” are taken to be substituted, and

(d) a reference in section 32 (1) (a) or (b) of the Code to an employee of the SSA is taken to be a reference to an employee of either relevant Commonwealth body, and

(e) section 32 (4) of the Code is taken to be omitted, and

(f) in the definition of "society to which this section applies" in section 465 (1) of the Code, paragraphs (a), (b), (d), (e) and (f) are taken to be omitted, and

(g) section 465 (2) of the Code is taken to be omitted, and

(h) in the definition of "society to which this section applies" in section 466 (1) of the Code, paragraphs (a), (b), (d), (e) and (f) are taken to be omitted, and

(i) in the definition of "prescribed person" in section 466 (1) of the Code, paragraphs (a) and (b) are taken to be omitted, and

(j) section 466 (2) of the Code is taken to be omitted, and

(k) a reference in section 471 (2) of the Code to the Minister is taken to be a reference to the Minister administering this Act, and

(l) the Code applies with all other necessary changes.

(4) This section does not limit section 39.