Victorian Consolidated Legislation

Financial Sector Reform (Victoria) Act 1999 - SECT 45

Friendly Societies Code provisions

45. 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, Division or 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 19 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;



   (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
        Law8 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 42.