Northern Territory Consolidated Acts

FINANCIAL SECTOR REFORM (NORTHERN TERRITORY) ACT - SECT 19

    (1)     This section applies despite:

        (a)     the repeal of the AFIC Act by the Financial Sector Reform (Queensland) Act 1999 of Queensland; and

        (b)     the repeal of the Financial Institutions (NT) Act .

    (2)     AFIC and its board continue in existence, but only for the following purposes:

        (a)     to give effect to matters relating to the transfer, under a law of the Commonwealth or of a State or another Territory or this Act, of any of its functions under the fiscal bodies legislation to APRA or ASIC;

        (b)     to prepare reports and financial statements.