Victorian Consolidated Legislation

Financial Sector Reform (Victoria) Act 1999 - SECT 21

Continuation of AFIC for certain purposes

21. Continuation of AFIC for certain purposes



(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 (Victoria) Act 1992.

(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 another State or a 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.