Victorian Consolidated Legislation

FINANCIAL SECTOR REFORM (VICTORIA) ACT 1999

No. 37 of 1999
Version incorporating amendments as at 8 February 2008

TABLE OF PROVISIONS

           Section Page

   PART 1-PRELIMINARY

   1.      Purpose
   2.      Commencement
   3.      Definitions
   4.      Crown is bound

   PART 2-REGISTRATION OF CERTAIN ENTITIES AS COMPANIES

   5.      Transferring financial institutions

   PART 3-CONFERRAL OF FUNCTIONS AND POWERS ON APRA AND ASIC

   6.      Conferral of functions and powers on APRA
   7.      Conferral of functions and powers on ASIC

   PART 4-AUTHORISED DEPOSIT TAKING INSTITUTIONS AND LIFE INSURANCE COMPANIES: TRANSFER OF BUSINESS

   8.      Words defined in FS (TB) Act
   9.      Authorised APRA officer
   10.     Voluntary transfers
   11.     Compulsory transfers
   12.     Certificates evidencing operation of Part
   13.     Interests in land
   14.     Certificates in relation to other assets
   15.     Documents purporting to be certificates
   16.     Relationship of Part with other laws

   PART 5-INDUSTRY SUPERVISION FUND

   17.     Industry Supervision Fund
   18.     Financial statements of Industry Supervision Fund

   PART 6-REPEALS AND TRANSITIONAL

           Division 1-Repeals

   19.     Repeals on transfer date
   20.     Repeal of remaining provisions

           Division 2-Provisions relating to AFIC
           Subdivision 1-AFIC to continue

   21.     Continuation of AFIC for certain purposes
   22.     Delegation of AFIC's powers
           Subdivision 2-Provisions about AFIC's staff
   23.     Definition
   24.     Transfer of staff to APRA under transfer agreement
   25.     Effect of transfer under section 24 or of employees of AFIC becoming appointed to the Australian Public Service
   26.     Statement of accrued benefits etc.
           Subdivision 3-Information may be given to APRA or ASIC
   27.     Giving of information
           Subdivision 4-Transfer of AFIC's assets and liabilities
   28.     Transfer of assets and liabilities
           Subdivision 5-Proceedings involving AFIC
   29.     Continuation and preservation of certain civil proceedings involving AFIC
   30.     Continuation of certain offence proceedings

           Division 3-Provisions relating to VicFIC
           Subdivision 1-General

   31.     Supervision Fund
   32.     Credit Unions Contingency Fund
   33.     Audit of funds
           Subdivision 2-Provisions about VicFIC's staff
   34.     Transfer of staff to APRA under transfer agreement
   35.     Effect of transfer to APRA or APS
   36.     Statement of accrued benefits etc
           Subdivision 3-Information may be given to APRA and ASIC
   37.     Giving of information
           Subdivision 4-Transfer of VicFIC's assets and liabilities
   38.     Transfer of assets and liabilities
   39.     Transfer of assets and liabilities relating to co-operative
           housing societies
           Subdivision 5-Proceedings involving VicFIC
   40.     Continuation and preservation of civil proceedings
           involving VicFIC
   41.     Continuation of certain offence proceedings

           Division 4-APRA's and ASIC's functions and powers under
           Codes

   42.     Conferral of functions and powers relating to financial institutions and friendly societies
   43.     AFIC Code provisions
   44.     Financial Institutions Code provisions
   45.     Friendly Societies Code provisions
   46.     Conferral of functions and powers

           Division 5-Miscellaneous

   47.     Dormant accounts
   48.     Withdrawable shares in building societies
   49.     Matters in relation to dissolved or deregistered societies
   50.     Mergers and transfers of engagements commenced under Financial Institutions (Victoria) Code
   51.     Mergers and transfers of engagements commenced under Friendly Societies (Victoria) Code
   52.     Australian Financial Institutions Appeals Tribunal
   53.     Funds of Committees

           Division 6-State taxes

   54.     Exemption from State taxes

           Division 7-References to financial institutions and friendly
           societies

   55.     Building societies and credit unions
   56.     Friendly societies

           Division 8-Regulations

   57.     Regulations

   PART 7-Repealed

   58.     Repealed
           __________________
           1-3-Repealed
           ---------------
           ENDNOTES
           1. General Information
           2. Table of Amendments
           3. Explanatory Details