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Queensland
MISCELLANEOUS ACTS
(NON-BANK FINANCIAL
INSTITUTIONS)
AMENDMENT BILL 1997
Queensland
MISCELLANEOUS ACTS (NON-BANK
FINANCIAL INSTITUTIONS)
AMENDMENT BILL 1997
TABLE OF PROVISIONS
Section Page
PART 1--PRELIMINARY
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
3 Object of Act . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
4 Act is an amending Act . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
PART 2--AMENDMENT OF AUCTIONEERS AND AGENTS
ACT 1971
5 Act amended in pt 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
6 Amendment of s 2 (Definitions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
PART 3--AMENDMENT OF FUNERAL BENEFIT BUSINESS
ACT 1982
7 Act amended in pt 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
8 Amendment of s 14 (Benefits trust funds) . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
9 Amendment of s 17 (Application of benefits trust fund and of the Fund) . . 10
10 Amendment of s 34 (Registration based on insurance policy or
bank bond in lieu of additional statements) . . . . . . . . . . . . . . . . . . . . . . . . . 10
11 Amendment of s 37 (Refusal of registration) . . . . . . . . . . . . . . . . . . . . . . . . 10
12 Amendment of s 38 (Funeral benefit business trust fund account) . . . . . . . 11
13 Amendment of s 39 (Funeral benefit business trust fund) . . . . . . . . . . . . . . 11
14 Amendment of s 50 (Sale of funeral benefit business) . . . . . . . . . . . . . . . . . 11
15 Amendment of s 52 (Cancellation of registration by Court) . . . . . . . . . . . . 11
16 Amendment of s 56 (Winding-up of funeral benefit business) . . . . . . . . . . . 12
17 Amendment of s 64 (Audit by direction of registrar) . . . . . . . . . . . . . . . . . . 12
2
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
18 Amendment of s 65 (Control and management of certain bank
accounts of registered corporations) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
19 Amendment of s 68 (Inspection of books by contributors etc.) . . . . . . . . . . 13
PART 4--AMENDMENT OF LEGAL PRACTITIONERS ACT
1995
20 Act amended in pt 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
21 Amendment of s 51 (Solicitors trust bank accounts etc.) . . . . . . . . . . . . . . . 13
22 Amendment of sch (Subject matters for regulations) . . . . . . . . . . . . . . . . . . 14
PART 5--AMENDMENT OF PROPERTY LAW ACT 1974
23 Act amended in pt 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
24 Amendment of s 61 (Conditions of sale of land) . . . . . . . . . . . . . . . . . . . . . 15
25 Amendment of s 66 (Receipt in instrument or endorsed authority
for payment) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
26 Amendment of s 76 (Deposit of title deed and conveyance) . . . . . . . . . . . . 15
PART 6--AMENDMENT OF PUBLIC TRUSTEE ACT 1978
27 Act amended in pt 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
28 Amendment of s 16 (Employment of solicitors etc.) . . . . . . . . . . . . . . . . . . 16
29 Amendment of s 21 (Public Trust Office Investment Board) . . . . . . . . . . . . 16
30 Amendment of s 48 (General powers) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
PART 7--AMENDMENT OF QUEENSLAND INVESTMENT
CORPORATION ACT 1991
31 Act amended in pt 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
32 Amendment of s 3 (Definitions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
33 Amendment of s 15 (Powers of Corporation) . . . . . . . . . . . . . . . . . . . . . . . . 17
PART 8--AMENDMENT OF QUEENSLAND LAW SOCIETY
ACT 1952
34 Act amended in pt 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
35 Amendment of s 10 (When council may assume control over
practitioner's trust accounts) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
36 Amendment of s 11 (Powers of the council with respect to trust
accounts of deceased practitioners etc.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
37 Amendment of s 11A (Appointment of receiver of trust property) . . . . . . . 18
38 Amendment of s 13 (Fund to be kept in separate bank account) . . . . . . . . 18
3
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
39 Amendment of s 31 (Council may appoint accountant to
investigate affairs of practitioner) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
40 Amendment of s 36B (Establishment of contribution fund) . . . . . . . . . . . . . 19
41 Amendment of s 36C (Moneys payable into the contribution fund) . . . . . . 19
PART 9--AMENDMENT OF QUEENSLAND PERFORMING
ARTS TRUST ACT 1977
42 Act amended in pt 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
43 Amendment of s 30 (Funds) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
PART 10--AMENDMENT OF QUEENSLAND TREASURY
CORPORATION ACT 1988
44 Act amended in pt 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
45 Amendment of s 4 (Definitions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
46 Amendment of s 20 (Investment powers of Corporation) . . . . . . . . . . . . . . . 20
47 Amendment of s 22 (Other powers of Corporation) . . . . . . . . . . . . . . . . . . . 20
PART 11--AMENDMENT OF TRUST ACCOUNTS ACT 1973
48 Act amended in pt 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
49 Amendment of s 4 (Interpretation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
50 Amendment of s 5 (Trustee to give notice to chief executive etc.) . . . . . . 21
51 Amendment of s 7 (Moneys received by trustee to be paid into a
trust account) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
52 Amendment of s 12 (Disbursements from trust account) . . . . . . . . . . . . . . . 22
53 Amendment of s 16 (Audit of trust accounts) . . . . . . . . . . . . . . . . . . . . . . . . 22
54 Amendment of s 24 (Powers of auditors) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
55 Amendment of s 27 (Duties of bank relating to trustee's accounts) . . . . . . 22
56 Amendment of s 34 (When public trustee may control operations
on trust accounts) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
57 Amendment of s 35 (Powers of the public trustee with respect to
trust accounts of deceased trustees etc.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
58 Amendment of s 36 (Act to apply in respect of certain moneys
and bank accounts) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
59 Amendment of s 41(Regulations) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
PART 12--AMENDMENT OF TRUSTEE COMPANIES ACT 1968
60 Act amended in pt 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
61 Amendment of s 4 (Definitions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
4
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
62 Amendment of s 36 (Common funds) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
63 Amendment of s 36A (Cash common fund) . . . . . . . . . . . . . . . . . . . . . . . . . 25
64 Amendment of s 64A (Trustee company to give information to
Minister) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
65 Amendment of s 66C (Loans etc. from estates to related
corporations prohibited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
PART 13--AMENDMENT OF TRUSTS ACT 1973
66 Act amended in pt 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
67 Amendment of s 21 (Authorised investments) . . . . . . . . . . . . . . . . . . . . . . . 26
68 Amendment of s 25 (Investment in bearer securities) . . . . . . . . . . . . . . . . . 26
69 Amendment of s 49 (Deposit of documents for safe custody) . . . . . . . . . . . 26
70 Amendment of s 54 (Power to employ agents) . . . . . . . . . . . . . . . . . . . . . . . 27
71 Amendment of s 55 (Protection of bankers) . . . . . . . . . . . . . . . . . . . . . . . . . 27
72 Amendment of s 71 (Implied indemnity of trustees) . . . . . . . . . . . . . . . . . . 27
73 Amendment of s 102 (Payment into court by trustee) . . . . . . . . . . . . . . . . . 28
PART 14--OTHER ACTS AMENDED
74 Other Acts amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
SCHEDULE . . . . . . . . . . . . . . . . . . . . . . . . . 29
ACTS AMENDED
ARCHITECTS ACT 1985 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
BUILDING UNITS AND GROUP TITLES ACT 1980 . . . . . . . . . . . . . . . . . 29
BUSINESS NAMES ACT 1962 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
CHILDRENS' SERVICES ACT 1965 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30
CITY OF BRISBANE ACT 1924 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30
COOPERATIVE AND OTHER SOCIETIES ACT 1967 . . . . . . . . . . . . . . . 30
COURT FUNDS ACT 1973 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
CRIMINAL JUSTICE ACT 1989 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
DRUGS MISUSE ACT 1986 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
EDUCATION (CAPITAL ASSISTANCE) ACT 1993 . . . . . . . . . . . . . . . . . 31
EDUCATION (SENIOR SECONDARY SCHOOL STUDIES)
ACT 1988 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
EDUCATION (TERTIARY ENTRANCE PROCEDURES
AUTHORITY) ACT 1990 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
5
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
EVIDENCE ACT 1977 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
FORESTRY ACT 1959 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
FRUIT MARKETING ORGANISATION ACT 1923 . . . . . . . . . . . . . . . . . . 33
FRIENDLY SOCIETIES ACT 1991 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
GOVERNMENT LOAN ACT 1986 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
GRAMMAR SCHOOLS ACT 1975 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
HOSPITALS FOUNDATION ACT 1982 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
INTEGRATED RESORT DEVELOPMENT ACT 1987 . . . . . . . . . . . . . . . . 36
LAND ACT 1994 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
LEGAL AID ACT 1978 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
LIBRARIES AND ARCHIVES ACT 1988 . . . . . . . . . . . . . . . . . . . . . . . . . . 37
LOAN FUND COMPANIES ACT 1982 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
LOCAL GOVERNMENT ACT 1993 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
MAINTENANCE ACT 1965 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
MEDICAL ACT AND OTHER ACTS (ADMINISTRATION) ACT
1966 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
MINERAL RESOURCES ACT 1989 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
MIXED USE DEVELOPMENT ACT 1993 . . . . . . . . . . . . . . . . . . . . . . . . . . 40
PETROLEUM ACT 1923 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
PRIMARY PRODUCERS' COOPERATIVE ASSOCIATIONS
ACT 1923 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
PRIMARY PRODUCERS' ORGANISATION AND MARKETING
ACT 1926 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42
QUEENSLAND ART GALLERY ACT 1987 . . . . . . . . . . . . . . . . . . . . . . . . 42
QUEENSLAND INSTITUTE OF MEDICAL RESEARCH ACT 1945 . . . . 42
QUEENSLAND MUSEUM ACT 1970 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43
QUEENSLAND POLICE WELFARE CLUB ACT 1970 . . . . . . . . . . . . . . . 43
RETURNED & SERVICES LEAGUE OF AUSTRALIA
(QUEENSLAND BRANCH) ACT 1956 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43
RIVER IMPROVEMENT TRUST ACT 1940 . . . . . . . . . . . . . . . . . . . . . . . . 43
RURAL ADJUSTMENT AUTHORITY ACT 1994 . . . . . . . . . . . . . . . . . . . 44
SANCTUARY COVE RESORT ACT 1985 . . . . . . . . . . . . . . . . . . . . . . . . . 44
SCHOOLS OF ARTS (WINDING UP AND TRANSFER) ACT 1960 . . . . 44
6
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SOUTH BANK CORPORATION ACT 1989 . . . . . . . . . . . . . . . . . . . . . . . . 45
UNITED GRAND LODGE OF ANTIENT FREE AND
ACCEPTED MASONS OF QUEENSLAND TRUSTEES ACT
1942 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
WATER RESOURCES ACT 1989 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
1997
A BILL
FOR
An Act to enable building societies and credit unions to perform the
functions banks perform under a number of Acts
s1 8 s4
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
The Parliament of Queensland enacts-- 1
PART 1--PRELIMINARY 2
title 3
Short
Clause 1. This Act may be cited as the Miscellaneous Acts (Non-bank Financial 4
Institutions) Amendment Act 1997. 5
6
Commencement
Clause 2. This act commences on a day to be fixed by proclamation. 7
of Act 8
Object
Clause 3. The objects of this Act are-- 9
(a) to ensure public authorities, trustees and others whose financial 10
arrangements or investment powers are regulated by Queensland 11
legislation can use financial services offered by building societies 12
and credit unions whose activities are supervised under Australian 13
financial institutions legislation; and 14
(b) to ensure the principle of competitive neutrality applies between 15
banks and non-bank financial institutions; and 16
(c) to promote a competitive financial system within the State. 17
is an amending Act 18
Act
Clause 4. This Act is an amending Act within the meaning of the Acts 19
Interpretation Act 1954, section 22C.1 20
1 Section 22C (Automatic repeal of amending Act)
s5 9 s7
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
ART 2--AMENDMENT OF AUCTIONEERS AND 1
P
AGENTS ACT 1971 2
amended in pt 2 3
Act
Clause 5. This part amends the Auctioneers and Agents Act 1971. 4
of s 2 (Definitions) 5
Amendment
Clause 6.(1) Section 2, definition "commercial agent", paragraph (g)-- 6
omit, insert-- 7
`(g) is a registered life assurance company or friendly society, or a 8
financial institution or trustee company; or'. 9
(2) Section 2, definition "motor dealer", paragraph (b)(iii)-- 10
omit, insert-- 11
`(iii) is a registered life assurance company or friendly society, or 12
a financial institution or trustee company.'. 13
(3) Section 2, definition "real estate agent", paragraph (c)-- 14
omit, insert-- 15
`(c) is a registered life assurance company or friendly society, or a 16
financial institution or trustee company.'. 17
PART 3--AMENDMENT OF FUNERAL BENEFIT 18
BUSINESS ACT 1982 19
amended in pt 3 20
Act
Clause 7. This part amends the Funeral Benefit Business Act 1982. 21
s8 10 s 11
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
of s 14 (Benefits trust funds) 1
Amendment
Clause 8.(1) Section 14(1), `bank'-- 2
omit, insert-- 3
`financial institution'. 4
(2) Section 14(3)(c), `bank'-- 5
omit, insert-- 6
`financial institution'. 7
of s 17 (Application of benefits trust fund and of the 8
Amendment
Fund) 9
Clause 9. Section 17, `banked'-- 10
omit, insert-- 11
`deposited at a financial institution'. 12
of s 34 (Registration based on insurance policy or bank 13
Amendment
bond in lieu of additional statements) 14
Clause 10.(1) Section 34, heading, `bank'-- 15
omit. 16
(2) Section 34(1)(b), `bank bond with a bank'-- 17
omit, insert-- 18
`bond with a financial institution'. 19
(3) Section 34(2), (3), (4) and (5) `bank'-- 20
omit. 21
of s 37 (Refusal of registration) 22
Amendment
Clause 11. Section 37(2), `bank'-- 23
omit. 24
s 12 11 s 15
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
of s 38 (Funeral benefit business trust fund account) 1
Amendment
Clause 12.(1) Section 38(1), `bank'-- 2
omit, insert-- 3
`financial institution'. 4
(2) Section 38(3), `bank'-- 5
omit. 6
(3) Section 38(4)(a), `bank'-- 7
omit, insert-- 8
`financial institution'. 9
of s 39 (Funeral benefit business trust fund) 10
Amendment
Clause 13.(1) Section 39, `banked'-- 11
omit, insert-- 12
`deposited in a financial institution account'. 13
(2) Section 39, `bank'-- 14
omit. 15
of s 50 (Sale of funeral benefit business) 16
Amendment
Clause 14.(1) Section 50(5)(b) and (d), `banked'-- 17
omit, insert-- 18
`deposited in a financial institution account'. 19
(2) Section 50(7)(a), `bank'-- 20
omit. 21
of s 52 (Cancellation of registration by Court) 22
Amendment
Clause 15. Section 52(6)(a), `banked'-- 23
s 16 12 s 18
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
omit, insert-- 1
`deposited in a financial institution account'. 2
of s 56 (Winding-up of funeral benefit business) 3
Amendment
Clause 16. Section 56(6)(c), `bank'-- 4
omit, insert-- 5
`financial institution'. 6
of s 64 (Audit by direction of registrar) 7
Amendment
Clause 17. Section 64(3)(b), `banker's certificate'-- 8
omit, insert-- 9
`certificate of a financial institution'. 10
of s 65 (Control and management of certain bank 11
Amendment
accounts of registered corporations) 12
Clause 18.(1) Section 65, heading, `bank'-- 13
omit. 14
(2) Section 65(1), definition "the account", `banked'-- 15
omit, insert-- 16
`deposited in a financial institution account'. 17
(3) Section 65(2), `bank or building society'-- 18
omit, insert-- 19
`financial institution'. 20
(4) Section 65(4), (6), (8) and (15), `bank or building society'-- 21
omit, insert-- 22
`financial institution'. 23
s 19 13 s 21
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
of s 68 (Inspection of books by contributors etc.) 1
Amendment
Clause 19. Section 68(1)(d), `bank, building society, credit union'-- 2
omit, insert-- 3
`financial institution'. 4
PART 4--AMENDMENT OF LEGAL 5
PRACTITIONERS ACT 1995 6
amended in pt 4 7
Act
Clause 20. This part amends the Legal Practitioners Act 1995. 8
of s 51 (Solicitors trust bank accounts etc.) 9
Amendment
Clause 21.(1) Section 51, heading, `bank'-- 10
omit. 11
(2) Section 51(1), definition "balance", `bank account'-- 12
omit, insert-- 13
`financial institution account'. 14
(3) Section 51(1), definition "solicitor", `trust bank account'-- 15
omit, insert-- 16
`trust account'. 17
(4) Section 51(1), definition "trust bank account", `bank account' 18
(first mention)-- 19
omit, insert-- 20
`account'. 21
(5) Section 51(1), definition "trust account" (as amended), `any bank 22
account'-- 23
s 22 14 s 23
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
omit, insert-- 1
`a financial institution account'. 2
(6) Section 51(2), (5)(b), (5)(f), (6)(b), (7) and (13), `trust bank 3
account'-- 4
omit, insert-- 5
`trust account'. 6
(7) Section 51(2)(a) and (c)(ii), (5)(b), (5)(f), (6)(b) and (13), `trust bank 7
accounts'-- 8
omit, insert-- 9
`trust accounts'. 10
(8) Section 51(7) and (8)(b), `a bank'-- 11
omit, insert-- 12
`a financial institution'. 13
of sch (Subject matters for regulations) 14
Amendment
Clause 22.(1) Schedule, item 1, heading `bank'-- 15
omit. 16
(2) Schedule, item 1, `trust bank accounts'-- 17
omit, insert-- 18
`trust accounts'. 19
ART 5--AMENDMENT OF PROPERTY LAW ACT 20
P
1974 21
amended in pt 5 22
Act
Clause 23. This part amends the Property Law Act 1974. 23
s 24 15 s 26
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
of s 61 (Conditions of sale of land) 1
Amendment
Clause 24. Section 61(2)(a), `bank'-- 2
omit, insert-- 3
`financial institution'. 4
of s 66 (Receipt in instrument or endorsed authority for 5
Amendment
payment) 6
Clause 25.(1) Section 66(1), `Where a banker'-- 7
omit, insert-- 8
`If a financial institution manager'. 9
(2) Section 66(1), `banker', second and third mention-- 10
omit, insert-- 11
`financial institution manager'. 12
(3) Section 66(2), definition "banker"-- 13
omit. 14
(4) Section 66(2)-- 15
insert-- 16
` "financial institution manager" means the person performing the 17
function of general manager or manager of a financial institution, and 18
includes an agent of the financial institution manager.'. 19
of s 76 (Deposit of title deed and conveyance) 20
Amendment
Clause 26. Section 76(4), definition "prescribed authority", paragraph (b), 21
`bank'-- 22
omit, insert-- 23
`financial institution'. 24
s 27 16 s 30
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
PART 6--AMENDMENT OF PUBLIC TRUSTEE ACT 1
1978 2
amended in pt 6 3
Act
Clause 27. This part amends the Public Trustee Act 1978. 4
of s 16 (Employment of solicitors etc.) 5
Amendment
Clause 28.(1) Section 16(1), `bankers'-- 6
omit, insert-- 7
`financial institutions'. 8
(2) Section 16(2), `banker'-- 9
omit, insert-- 10
`financial institution'. 11
of s 21 (Public Trust Office Investment Board) 12
Amendment
Clause 29. Section 21(6)(b)(v), `bank'-- 13
omit, insert-- 14
`financial institution'. 15
of s 48 (General powers) 16
Amendment
Clause 30. Section 48(c), `bank account'-- 17
omit, insert-- 18
`account at a financial institution'. 19
s 31 17 s 35
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
PART 7--AMENDMENT OF QUEENSLAND 1
INVESTMENT CORPORATION ACT 1991 2
amended in pt 7 3
Act
Clause 31. This part amends the Queensland Investment Corporation Act 1991. 4
of s 3 (Definitions) 5
Amendment
Clause 32. Section 3, definition "bank"-- 6
omit, insert-- 7
` "bank" includes an entity that carries on banking business outside 8
Australia and is approved by the Treasurer.'. 9
of s 15 (Powers of Corporation) 10
Amendment
Clause 33. Section 15(2)(n), `bank'-- 11
omit, insert-- 12
`financial institution'. 13
ART 8--AMENDMENT OF QUEENSLAND LAW 14
P
SOCIETY ACT 1952 15
amended in pt 8 16
Act
Clause 34. This Act amends the Queensland Law Society Act 1952. 17
of s 10 (When council may assume control over 18
Amendment
practitioner's trust accounts) 19
Clause 35.(1) Section 10(2)(c), (3), (6) and (11), `bank'-- 20
omit, insert-- 21
s 36 18 s 38
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
`financial institution'. 1
(2) Section 10(3B), `banker'-- 2
omit, insert-- 3
`financial institution'. 4
(3) Section 10(13), definition "bank"-- 5
omit. 6
of s 11 (Powers of the council with respect to trust 7
Amendment
accounts of deceased practitioners etc.) 8
Clause 36.(1) Section 11(3)(d) and (11), `bank'-- 9
omit, insert-- 10
`financial institution'. 11
(2) Section 11(13), definition "bank"-- 12
omit. 13
of s 11A (Appointment of receiver of trust property) 14
Amendment
Clause 37. Section 11A(2A)(a), (4) and (4B) `bank'-- 15
omit, insert-- 16
`financial institution'. 17
of s 13 (Fund to be kept in separate bank account) 18
Amendment
Clause 38.(1) Section 13, heading, `bank'-- 19
omit. 20
(2) Section 13, from `bank for the time' to `State'-- 21
omit, insert-- 22
`financial institution'. 23
s 39 19 s 43
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
of s 31 (Council may appoint accountant to investigate 1
Amendment
affairs of practitioner) 2
Clause 39.(1) Section 31(3), `bankers'-- 3
omit, insert-- 4
`financial institutions'. 5
(2) Section 31(5B), `bank, building society or other'-- 6
omit. 7
of s 36B (Establishment of contribution fund) 8
Amendment
Clause 40. Section 36B(3), from `bank'-- 9
omit, insert-- 10
`financial institution.'. 11
of s 36C (Moneys payable into the contribution fund) 12
Amendment
Clause 41. Section 36C(b), `bank'-- 13
omit, insert-- 14
`financial institution'. 15
PART 9--AMENDMENT OF QUEENSLAND 16
PERFORMING ARTS TRUST ACT 1977 17
amended in pt 9 18
Act
Clause 42. This part amends the Queensland Performing Arts Trust Act 1977. 19
mendment of s 30 (Funds) 20
A
Clause 43. Section 30(2), `bank account'-- 21
s 44 20 s 47
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
omit, insert-- 1
`account at a financial institution'. 2
ART 10--AMENDMENT OF QUEENSLAND 3
P
TREASURY CORPORATION ACT 1988 4
amended in pt 10 5
Act
Clause 44. This part amends the Queensland Treasury Corporation Act 1988. 6
of s 4 (Definitions) 7
Amendment
Clause 45. Section 4, definition "bank"-- 8
omit, insert-- 9
` "bank" includes an entity that carries on banking business outside 10
Australia and is approved by the Treasurer.'. 11
of s 20 (Investment powers of Corporation) 12
Amendment
Clause 46.(1) Section 20(1)(b), `bank'-- 13
omit, insert-- 14
`financial institution'. 15
(2) Section 20(1)(b), `other financial institution'-- 16
omit, insert-- 17
`other financial entity'. 18
of s 22 (Other powers of Corporation) 19
Amendment
Clause 47. Section 22(2)(h), `bank'-- 20
s 48 21 s 50
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
omit, insert-- 1
`financial institution'. 2
PART 11--AMENDMENT OF TRUST ACCOUNTS 3
ACT 1973 4
amended in pt 11 5
Act
Clause 48. This part amends the Trust Accounts Act 1973. 6
of s 4 (Interpretation) 7
Amendment
Clause 49.(1) Section 4(1), definition "agent"-- 8
omit, insert-- 9
` "agent", of a trustee, includes-- 10
(a) the manager of the trustee's financial institution; and 11
(b) the trustee's accountant or auditor, whether or not an employee of 12
the trustee; and 13
(c) anyone who has been, or acted as, the manager of the trustee's 14
financial institution or as accountant, auditor or other agent of the 15
trustee.'. 16
(2) Section 4(1), definition "moneys", `bank'-- 17
omit, insert-- 18
`financial institution'. 19
of s 5 (Trustee to give notice to chief executive etc.) 20
Amendment
Clause 50. Section 5, `bank'-- 21
omit, insert-- 22
`financial institution'. 23
s 51 22 s 55
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
of s 7 (Moneys received by trustee to be paid into a trust 1
Amendment
account) 2
Clause 51. Section 7(1), `bank or banks'-- 3
omit, insert-- 4
`financial institution'. 5
of s 12 (Disbursements from trust account) 6
Amendment
Clause 52. Section 12(1), `drawn by a bank'-- 7
omit, insert-- 8
`drawn on or that permits or enables payment to be made by a financial 9
institution'. 10
of s 16 (Audit of trust accounts) 11
Amendment
Clause 53. Section 16(4)(b) and (8), `bank'-- 12
omit, insert-- 13
`financial institution'. 14
of s 24 (Powers of auditors) 15
Amendment
Clause 54.(1) Section 24(2), `a banker'-- 16
omit, insert-- 17
`an employee of a financial institution'. 18
(2) Section 24(2), `bank'-- 19
omit, insert-- 20
`financial institution'. 21
of s 27 (Duties of bank relating to trustee's accounts) 22
Amendment
Clause 55.(1) Section 27, heading, `bank'-- 23
omit, insert-- 24
s 56 23 s 58
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
`financial institution'. 1
(2) Section 27, `bank'-- 2
omit, insert-- 3
`financial institution'. 4
of s 34 (When public trustee may control operations on 5
Amendment
trust accounts) 6
Clause 56.(1) Section 34(2)(c), (4), (9) and (14) `bank'-- 7
omit, insert-- 8
`financial institution'. 9
(2) Section 34(6), `banker'-- 10
omit, insert-- 11
`financial institution'. 12
of s 35 (Powers of the public trustee with respect to trust 13
Amendment
accounts of deceased trustees etc.) 14
Clause 57. Section 35(2)(d), `bank'-- 15
omit, insert-- 16
`a financial institution'. 17
of s 36 (Act to apply in respect of certain moneys and 18
Amendment
bank accounts) 19
Clause 58.(1) Section 36, heading, `bank'-- 20
omit, insert-- 21
`financial institution'. 22
(2) Section 36, `bank'-- 23
omit, insert-- 24
`financial institution'. 25
s 59 24 s 61
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
of s 41(Regulations) 1
Amendment
Clause 59. Section 41(2)(a), `banker'-- 2
omit, insert-- 3
`employee of a financial institution'. 4
PART 12--AMENDMENT OF TRUSTEE COMPANIES 5
ACT 1968 6
amended in pt 12 7
Act
Clause 60. This part amends the Trustee Companies Act 1968. 8
of s 4 (Definitions) 9
Amendment
Clause 61.(1) Section 4(1), definitions "bankers' books" and "financial 10
institution"-- 11
omit. 12
(2) Section 4(1)-- 13
insert-- 14
` "financial institution" includes-- 15
(a) an insurance company; and 16
(b) the trustees or managers of a superannuation fund established 17
under a law of the Commonwealth or another State; and 18
(c) a corporation, or a corporation included in a class of corporations 19
declared under a regulation to be a financial institution. 20
"financial institution's books" means-- 21
(a) books of a financial institution, including any documents used in 22
the ordinary business of a financial institution; or 23
(b) cheques, orders for the payment of money, bills of exchange and 24
s 62 25 s 65
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
promissory notes in the possession or under the control of a 1
financial institution; or 2
(c) securities or documents of title to securities in the possession or 3
under the control of a financial institution whether by way of 4
pledge or otherwise.'. 5
of s 36 (Common funds) 6
Amendment
Clause 62. Section 36(4)(b), `bank'-- 7
omit, insert-- 8
`financial institution'. 9
of s 36A (Cash common fund) 10
Amendment
Clause 63.(1) Section 36A(2)(b)(i), (ii) and (iv), `bank'-- 11
omit, insert-- 12
`financial institution'. 13
(2) Section 36A(2)(b)(iii)-- 14
omit, insert-- 15
`(iii) on deposit in a savings account at a financial institution;'. 16
of s 64A (Trustee company to give information to 17
Amendment
Minister) 18
Clause 64. Section 64A(4), `Any bankers' books'-- 19
omit, insert-- 20
`A financial institution's books'. 21
of s 66C (Loans etc. from estates to related corporations 22
Amendment
prohibited) 23
Clause 65. Section 66C, `a bank'-- 24
s 66 26 s 69
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
omit, insert-- 1
`a financial institution'. 2
PART 13--AMENDMENT OF TRUSTS ACT 1973 3
amended in pt 13 4
Act
Clause 66. This part amends the Trusts Act 1973. 5
of s 21 (Authorised investments) 6
Amendment
Clause 67. Section 21(1)(e),`bank'-- 7
omit, insert-- 8
`a financial institution'. 9
of s 25 (Investment in bearer securities) 10
Amendment
Clause 68. Section 25(1), `bank'-- 11
omit, insert-- 12
`financial institution'. 13
of s 49 (Deposit of documents for safe custody) 14
Amendment
Clause 69. Section 49, `bank'-- 15
omit, insert-- 16
`financial institution'. 17
s 70 27 s 72
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
of s 54 (Power to employ agents) 1
Amendment
Clause 70. Section 54(1), (3)(b) and (4), `bank'-- 2
omit, insert-- 3
`financial institution'. 4
of s 55 (Protection of bankers) 5
Amendment
Clause 71.(1) Section 55, heading, `bankers'-- 6
omit, insert-- 7
`financial institutions'. 8
(2) Section 55(1) to (3), `banker'-- 9
omit, insert-- 10
`financial institution'. 11
(3) Section 55(1)(a), `banking'-- 12
omit, insert-- 13
`financial institution'. 14
(4) Section 55(1)(c), `bank'-- 15
omit, insert-- 16
`financial institution'. 17
(5) Section 55(2), `bankers'-- 18
omit, insert-- 19
`financial institutions'. 20
(6) Section 55(4), `a bank account named as an imprest account'-- 21
omit, insert-- 22
`an account named an imprest account at a financial institution'. 23
of s 71 (Implied indemnity of trustees) 24
Amendment
Clause 72. Section 71, `bank'-- 25
s 73 28 s 74
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
omit, insert-- 1
`financial institution'. 2
of s 102 (Payment into court by trustee) 3
Amendment
Clause 73. Section 102(4), `banker'-- 4
omit, insert-- 5
`financial institution'. 6
ART 14--OTHER ACTS AMENDED 7
P
Acts amended 8
Other
Clause 74. The schedule amends each Act mentioned in it. 9
10
29
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
CHEDULE 1
¡S
ACTS AMENDED 2
section 74 3
ARCHITECTS ACT 1985 4
´
1. Section 48(1), definition "books and accounts", `bank'-- 5
omit, insert-- 6
`financial institution'. 7
UILDING UNITS AND GROUP TITLES ACT 1980 8
´B
1. Section 38(8) and 38D(2)(a), `bank'-- 9
omit, insert-- 10
`financial institution'. 11
2. Schedule 4, section 11(b), `banking'-- 12
omit, insert-- 13
`depositing at a financial institution'. 14
USINESS NAMES ACT 1962 15
´B
1. Section 3A(b), `any bank account'-- 16
omit, insert-- 17
`an account at a financial institution'. 18
30
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SCHEDULE (continued)
CHILDRENS' SERVICES ACT 1965 1
´
1. Section 111(2A) and 112(1A) `savings bank to be held on interest 2
bearing account'-- 3
omit, insert-- 4
`savings account at a financial institution'. 5
CITY OF BRISBANE ACT 1924 6
´
1. Section 95(2), `a bank account'-- 7
omit, insert-- 8
`an account at a financial institution'. 9
2. Section 99, heading, `Bank'-- 10
omit, insert-- 11
`Financial institution'. 12
3. Section 99(1) and (2), `bank'-- 13
omit, insert-- 14
`financial institution'. 15
COOPERATIVE AND OTHER SOCIETIES ACT 1967 16
´
1. Section 101(3), `bank'-- 17
omit, insert-- 18
`financial institution'. 19
31
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SCHEDULE (continued)
COURT FUNDS ACT 1973 1
´
1. Section 16(2)(a) and (r) and 16(5), `any bank'-- 2
omit, insert-- 3
`any financial institution'. 4
2. Section 16(5)-- 5
renumber as section 16(3). 6
CRIMINAL JUSTICE ACT 1989 7
´
1. Section 84(3)(b), `bank or other'-- 8
omit. 9
DRUGS MISUSE ACT 1986 10
´
1. Section 41(5A) and 42(3), `bank'-- 11
omit, insert-- 12
`financial institution'. 13
EDUCATION (CAPITAL ASSISTANCE) ACT 1993 14
´
1. Section 12(3)(a) and (4), `bank'-- 15
omit, insert-- 16
`financial institution'. 17
32
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SCHEDULE (continued)
DUCATION (SENIOR SECONDARY SCHOOL 1
´E
STUDIES) ACT 1988 2
1. Section 26(1), `a bank account'-- 3
omit, insert-- 4
`an account at a financial institution'. 5
EDUCATION (TERTIARY ENTRANCE 6
´
PROCEDURES AUTHORITY) ACT 1990 7
1. Section 25(1), `a bank account'-- 8
omit, insert-- 9
`an account at a financial institution'. 10
VIDENCE ACT 1977 11
´E
1. Section 110(2)(c)-- 12
omit, insert-- 13
`(c) a financial institution; or'. 14
FORESTRY ACT 1959 15
´
1. Section 22M(1A), `bank account shall be kept'-- 16
omit, insert-- 17
`account must be kept at a financial institution'. 18
33
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SCHEDULE (continued)
2. Section 61E(7), `a bank, insurance company or other financial 1
institution'-- 2
omit, insert-- 3
`a financial institution, insurance company or another credit provider'. 4
3. Section 61E(11)-- 5
omit, insert-- 6
`(11) If the corporation accepts a bond or guarantee by, or another 7
financial arrangement with, a financial institution, insurance company or 8
another credit provider as security under this section, an amount payable to 9
the holder under subsection (9) is to be refunded to the financial institution, 10
insurance company or credit provider and not to the holder of the permit to 11
which the security relates. 12
`(12) In this section-- 13
"credit provider" see Consumer Credit (Queensland) Act 1994.'. 14
RUIT MARKETING ORGANISATION ACT 1923 15
´F
1. Section 6D, heading, `bank'-- 16
omit, insert-- 17
`financial institution'. 18
2. Section 6D(1)(a), `a bank account'-- 19
omit, insert-- 20
`at a financial institution an account'. 21
34
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SCHEDULE (continued)
FRIENDLY SOCIETIES ACT 1991 1
´
1. Section 4.15(15), definition "management contract", paragraph (b), 2
`banker'-- 3
omit, insert-- 4
`financial institution'. 5
2. Section 6.6(3)(a), `banker'-- 6
omit, insert-- 7
`financial institution'. 8
3. Section 8.14, definition "involved person", paragraph (b), 9
`banker'-- 10
omit, insert-- 11
`financial institution'. 12
4. Section 11.1(3)(c), `bank account'-- 13
omit, insert-- 14
`account at a financial institution'. 15
GOVERNMENT LOAN ACT 1986 16
´
1. Section 9, `bank,'-- 17
omit. 18
35
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SCHEDULE (continued)
2. Section 12(2), `bank'-- 1
omit, insert-- 2
`financial institution'. 3
RAMMAR SCHOOLS ACT 1975 4
´G
1. Section 33(1A), `bank accounts'-- 5
omit, insert-- 6
`accounts at a financial institution'. 7
OSPITALS FOUNDATION ACT 1982 8
´H
1. Section 50(1) and 52(1), `at a bank'-- 9
omit, insert-- 10
`at a financial institution'. 11
2. Section 50(1), `bank account therefor'-- 12
omit, insert-- 13
`account for the fund'. 14
3. Section 50(1) and 52(1), `bank accounts'-- 15
omit, insert-- 16
`financial institution accounts'. 17
36
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SCHEDULE (continued)
NTEGRATED RESORT DEVELOPMENT ACT 1987 1
´I
1. Section 116(1)(k) and 151(1)(k), `bank'-- 2
omit, insert-- 3
`financial institution'. 4
AND ACT 1994 5
´L
1. Section 49(b), `bank'-- 6
omit, insert-- 7
`financial institution'. 8
EGAL AID ACT 1978 9
´L
1. Section 43, heading-- 10
omit, insert-- 11
`Accounts to be kept at a financial institution'. 12
2. Section 43(1), `bank or banks'-- 13
omit, insert-- 14
`financial institution'. 15
37
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SCHEDULE (continued)
LIBRARIES AND ARCHIVES ACT 1988 1
´
1. Section 38(2), `bank account'-- 2
omit, insert-- 3
`account at a financial institution'. 4
LOAN FUND COMPANIES ACT 1982 5
´
1. Section 4(1), definition "banker's books", paragraph (a), (b) and 6
(c), `banker'-- 7
omit, insert-- 8
`financial institution'. 9
2. Section 11(4), `banker'-- 10
omit, insert-- 11
`employee of a financial institution'. 12
3. Section 20(2)(f), `bank'-- 13
omit, insert-- 14
`financial institution'. 15
4. Section 56(2)(b)(ii), `banking'-- 16
omit, insert-- 17
`financial institution'. 18
38
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SCHEDULE (continued)
OCAL GOVERNMENT ACT 1993 1
´L
1. Section 251(1), `bank cheque'-- 2
omit, insert-- 3
`a cheque drawn by a financial institution'. 4
MAINTENANCE ACT 1965 5
´
1. Section 47(1) and 103(2), `bank'-- 6
omit, insert-- 7
`financial institution'. 8
MEDICAL ACT AND OTHER ACTS 9
´
(ADMINISTRATION) ACT 1966 10
1. Section 9(1), from `bank'-- 11
omit, insert-- 12
`financial institution.'. 13
INERAL RESOURCES ACT 1989 14
´M
1. Section 5-- 15
insert-- 16
` "credit provider" see Consumer Credit (Queensland) Act 1994.'. 17
39
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SCHEDULE (continued)
2. Section 26(7), 83(10), 144(9), 190(5) and 277(10), `bank, insurance 1
company or other financial institution'-- 2
omit, insert-- 3
`financial institution, insurance company or another credit provider'. 4
3. Section 26(15)-- 5
omit, insert-- 6
`(15) If the mining registrar accepts a bond, guarantee or indemnity by, 7
or another financial arrangement with, a financial institution, insurance 8
company or credit provider as security under this section, any amount 9
payable to the holder under subsection (9) or (10) must be refunded to the 10
financial institution, insurance company or credit provider and not to the 11
holder of the prospecting permit to which the security relates.'. 12
4. Section 83(16)-- 13
omit, insert-- 14
`(16) If the mining registrar accepts a bond, guarantee or indemnity by, 15
or another financial arrangement with, a financial institution, insurance 16
company or credit provider as security under this section, any amount 17
payable to the holder must be refunded to the financial institution, insurance 18
company or credit provider and not to the holder of the mining claim to 19
which the security relates.'. 20
5. Section 144(13)-- 21
omit, insert-- 22
`(13) If the Minister accepts a bond, guarantee or indemnity by, or 23
another financial arrangement with, a financial institution, insurance 24
company or credit provider as security under this section, any amount 25
payable to the holder under subsection (11) must be refunded to the 26
financial institution, insurance company or credit provider and not to the 27
holder of the exploration permit to which the security relates.'. 28
40
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SCHEDULE (continued)
6. Section 190(9)-- 1
omit, insert-- 2
`(9) If the Minister accepts a bond, guarantee or indemnity by, or another 3
financial arrangement with, a financial institution, insurance company or 4
another credit provider as security under this section, any amount payable to 5
the holder under subsection (8) must be refunded to the financial institution, 6
insurance company or credit provider and not to the holder of the mineral 7
development licence to which the security relates.'. 8
7. Section 277(14)-- 9
omit, insert-- 10
`(14) If the Minister accepts a bond, guarantee or indemnity by, or 11
another financial arrangement with, a financial institution, insurance 12
company or other credit provider as security under this section, any amount 13
payable to the holder under subsection (12) must be refunded to the 14
financial institution, insurance company or credit provider and not to the 15
holder of the mining lease to which the security relates.'. 16
IXED USE DEVELOPMENT ACT 1993 17
´M
1. Section 138(2)(m), `bank'-- 18
omit, insert-- 19
`financial institution'. 20
2. Section 177(1)(k), `bank'-- 21
omit, insert-- 22
`financial institution'. 23
41
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SCHEDULE (continued)
PETROLEUM ACT 1923 1
´
1. Section 43(2), `banker's'-- 2
omit, insert-- 3
`financial institution's'. 4
2. Section 43(2), `by a bank'-- 5
omit, insert-- 6
`by a financial institution'. 7
3. Section 43(6), `bank trust account'-- 8
omit, insert-- 9
`trust account at a financial institution'. 10
PRIMARY PRODUCERS' COOPERATIVE 11
´
ASSOCIATIONS ACT 1923 12
1. Section 6(1)(l), `bank or'-- 13
omit. 14
2. Section 23(1)(a) and 23(3), `bank'-- 15
omit, insert-- 16
`financial institution'. 17
42
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SCHEDULE (continued)
RIMARY PRODUCERS' ORGANISATION AND 1
´P
MARKETING ACT 1926 2
1. Section 2-- 3
insert-- 4
` "financial institution" includes an entity that carries on banking business 5
outside Australia and is approved by the Treasurer.'. 6
7
2. Section 18B(5)(b), `bank'-- 8
omit. 9
QUEENSLAND ART GALLERY ACT 1987 10
´
1. Section 36(2), `bank account'-- 11
omit, insert-- 12
`account at a financial institution'. 13
QUEENSLAND INSTITUTE OF MEDICAL 14
´
RESEARCH ACT 1945 15
1. Section 13(2A), from `bank'-- 16
omit, insert-- 17
`account must be kept at a financial institution for each fund.'. 18
43
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SCHEDULE (continued)
UEENSLAND MUSEUM ACT 1970 1
´Q
1. Section 27, `bank account'-- 2
omit, insert-- 3
`account at a financial institution'. 4
QUEENSLAND POLICE WELFARE CLUB ACT 1970 5
´
1. Section 6(3), `bank'-- 6
omit, insert-- 7
`financial institution'. 8
RETURNED & SERVICES LEAGUE OF AUSTRALIA 9
´
(QUEENSLAND BRANCH) ACT 1956 10
1. Section 6, `bank'-- 11
omit, insert-- 12
`financial institution'. 13
IVER IMPROVEMENT TRUST ACT 1940 14
´R
1. Section 12(1), `bank'-- 15
omit, insert-- 16
`financial institution'. 17
44
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SCHEDULE (continued)
2. Precept after section 14(2), `bank'-- 1
omit, insert-- 2
`financial institution'. 3
3. Section 22(2)(c), `banking'-- 4
omit, insert-- 5
`depositing in a financial institution'. 6
RURAL ADJUSTMENT AUTHORITY ACT 1994 7
´
1. Section 12(1)(g), `banks'-- 8
omit, insert-- 9
`financial institutions'. 10
SANCTUARY COVE RESORT ACT 1985 11
´
1. Section 33(1)(k) and 77(1)(k) `bank'-- 12
omit, insert-- 13
`financial institution'. 14
SCHOOLS OF ARTS (WINDING UP AND 15
´
TRANSFER) ACT 1960 16
1. Section 5(2) and 6(2), `bank or'-- 17
omit. 18
45
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SCHEDULE (continued)
OUTH BANK CORPORATION ACT 1989 1
´S
1. Section 35(2), from `a bank' to `of any State'-- 2
omit, insert-- 3
`a financial institution'. 4
2. Schedule 6, section 2(1)(l), `bank accounts'-- 5
omit, insert-- 6
`accounts at a financial institution'. 7
3. Schedule 7, section 38(8), `a bank'-- 8
omit, insert-- 9
`a financial institution'. 10
4. Schedule 7, section 38D(2)(a), `bank'-- 11
omit, insert-- 12
`financial institution'. 13
5. Schedule 7, in schedule 4, section 11(b), `banking'-- 14
omit, insert-- 15
`depositing at a financial institution'. 16
46
Miscellaneous Acts (Non-bank Financial
Institutions) Amendment
SCHEDULE (continued)
NITED GRAND LODGE OF ANTIENT FREE AND 1
´U
ACCEPTED MASONS OF QUEENSLAND TRUSTEES 2
ACT 1942 3
1. Section 7, `bank'-- 4
omit, insert-- 5
`financial institution'. 6
ATER RESOURCES ACT 1989 7
´W
1. Section 163(2), `bank account must be kept'-- 8
omit, insert-- 9
`account must be kept at a financial institution'. 10
11
© State of Queensland 1997
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