Western Australian Bills Western Australian Bills[Index] [Search] [Download] [Related Items] [Help]
This is a Bill, not an Act. For current law, see the Acts databases.
Western Australia
Building Societies Amendment Bill 2001
CONTENTS
Part 1 -- Preliminary
1. Short title 2
2. Commencement 2
Part 2 -- Amendments to the Building
Societies Act 1976
3. The Act amended by this Part 3
4. Long title amended 3
5. Section 1 amended and transitional 3
6. Section 5 amended 3
7. Section 5A replaced by sections 5A and 5B 4
8. Section 13 amended 6
9. Section 13A amended 6
10 . Section 14 amended 6
11 . Section 15 amended 7
12 . Section 23 amended and transitional 7
13 . Sections 26 and 27 replaced 7
14 . Section 29 amended 8
15 . Section 29B amended 8
16 . Section 29C amended 8
17 . Section 31 amended 9
18 . Section 32 amended 9
19 . Section 33 amended 10
20 . Section 38 amended 10
21 . Section 39 amended 10
22 . Section 41 amended 10
23 . Section 43 replaced 11
24 . Section 45 amended 11
25 . Section 48 amended 12
page i
5--1
Building Societies Amendment Bill 2001
Contents
26 . Section 50 amended 12
27 . Section 51 amended 13
28 . Section 53 amended 13
29 . Section 54 amended 13
30 . Section 55 amended 14
31 . Section 57 amended 14
32 . Section 59 amended 14
33 . Section 61 amended 15
34 . Section 65 amended 16
35 . Section 66 amended 17
36 . Section 71 amended 17
37 . Section 75 amended 17
38 . Section 76 amended 18
39 . Section 78 amended 19
40 . Section 87 amended 19
41 . Section 88 amended 19
42 . Section 90 amended 20
43 . Various references to institution changed to society 20
44 . Various provisions repealed 21
45 . Various references to "moneys" amended 21
Part 3 -- Amendments to other Acts
46 . Companies (Co-operative) Act 1943 amended 22
47 . Constitution Acts Amendment Act 1899 amended 22
48 . Equal Opportunity Act 1984 amended 22
49 . Housing Act 1980 amended 23
50 . Real Estate and Business Agents Act 1978 amended 23
51 . Amendments consequential on changing the name of
the Act 24
page ii
Western Australia
LEGISLATIVE COUNCIL
Building Societies Amendment Bill 2001
A Bill for
An Act to amend the Building Societies Act 1976 and, in consequence,
various other Acts, and for related purposes.
The Parliament of Western Australia enacts as follows:
page 1
Building Societies Amendment Bill 2001
Part 1 Preliminary
s. 1
Part 1 -- Preliminary
1. Short title
This Act may be cited as the Building Societies Amendment
Act 2001.
5 2. Commencement
This Act comes into operation on the day on which it receives
the Royal Assent.
page 2
Building Societies Amendment Bill 2001
Amendments to the Building Societies Act 1976 Part 2
s. 3
Part 2 -- Amendments to the Building Societies
Act 1976
3. The Act amended by this Part
The amendments in this Part are to the Building Societies
5 Act 1976*.
[* Reprinted as approved 14 April 1986.
For subsequent amendments see 2000 Index to Legislation of
Western Australia, Table 1, p. 45-6.]
4. Long title amended
10 The long title is amended by deleting "building" and inserting
instead --
" housing ".
5. Section 1 amended and transitional
(1) Section 1 is amended by deleting "Building" and inserting
15 instead --
" Housing ".
(2) Unless the contrary intention appears, a reference in subsidiary
legislation or any other document to the "Building Societies
Act 1976" is taken to be a reference to the "Housing Societies
20 Act 1976".
6. Section 5 amended
(1) Section 5(1) is amended by deleting the definitions of
"continuing credit arrangement", "non-withdrawable",
"permanent society", "prime net worth", "provide financial
25 accommodation", "society", "Starr Bowkett society",
"subordinated loan", "terminating society" and "withdrawable".
page 3
Building Societies Amendment Bill 2001
Part 2 Amendments to the Building Societies Act 1976
s. 7
(2) Section 5(1) is amended by inserting the following definitions in
the appropriate alphabetical positions --
"
"ADI" (authorised deposit-taking institution) means a
5 corporation that is an ADI for the purposes of the
Banking Act 1959 of the Commonwealth;
"society" means --
(a) a society formed and registered under this
Act and that by its rules is to terminate at a
10 fixed date, or when a certain event or result
specified in its rules is arrived at; and
(b) a society of that type which was registered
under the repealed Act and which is still in
existence;
15 "subsidiary", in relation to a society, has the meaning
given by section 5A;
".
7. Section 5A replaced by sections 5A and 5B
Section 5A is repealed and the following sections are inserted
20 instead --
"
5A. Meaning of subsidiary
(1) In this Act, an incorporated body is a subsidiary of a
society if the society --
25 (a) controls the composition of the board of
directors of that body;
(b) controls or is in a position to control more than
50% of the voting power at a general meeting
of that body; or
30 (c) holds more than 50%, or such smaller
percentage as may be determined from time to
page 4
Building Societies Amendment Bill 2001
Amendments to the Building Societies Act 1976 Part 2
s. 7
time by the Registrar by notice published in the
Gazette, of the issued share capital of the body
(excluding any part of that issued share capital
that carries no right to participate beyond a
5 specified amount in a distribution of either
profits or capital).
(2) Without limiting by implication the circumstances in
which the composition of the board of directors of an
incorporated body is taken to be controlled by a
10 society, the composition of such a board of directors is
taken to be controlled by a society if that society by the
exercise of some power exercisable whether with or
without the consent or concurrence of any other person
by that society, can appoint or remove all or a majority
15 of the directors.
(3) For the purposes of this section, the society is taken to
have power to make such an appointment if --
(a) a person cannot be appointed as a director
without the exercise of such a power by that
20 society in the person's favour; or
(b) a person's appointment as a director follows
necessarily from the person being a director or
other officer of the society.
5B. Application of Act
25 Sections 4(2) and 6(8) (and any other provision where
the context would enable this section to apply) have
effect only in relation to a society as defined (from
time to time) on and from the commencement of this
section.
30 ".
page 5
Building Societies Amendment Bill 2001
Part 2 Amendments to the Building Societies Act 1976
s. 8
8. Section 13 amended
Section 13 is amended as follows:
(a) in paragraph (a) by deleting "by subscription, or
otherwise,";
5 (b) after paragraph (a) by deleting "and";
(c) after paragraph (b) by deleting the full stop and
inserting --
"
; and
10 (c) to act as an agent for authorities or institutions
whose objects are similar to those of the
society.
".
9. Section 13A amended
15 (1) Section 13A is amended as follows:
(a) by inserting before "Subject to this Act" the subsection
designation "(1)";
(b) by deleting "building society" and inserting instead --
" society ".
20 (2) At the end of section 13A the following subsection is
inserted --
" (2) A society must not have a subsidiary. ".
10. Section 14 amended
(1) Section 14(1) is amended by deleting "and may be formed as a
25 permanent society or a terminating society".
(2) Section 14(4) is amended by deleting "application for
membership and shares" and inserting instead --
" application for membership and a share in the society ".
page 6
Building Societies Amendment Bill 2001
Amendments to the Building Societies Act 1976 Part 2
s. 11
(3) Section 14(5) is repealed and the following subsection inserted
instead --
"
(5) No application for a share in a proposed society, made
5 prior to the registration of that society, may be
withdrawn, and every person who makes such an
application is, upon the registration of the society,
liable to pay to the society the value of the share.
".
10 11. Section 15 amended
(1) Section 15(2)(b)(v) is amended by deleting ", and stating the
number of shares for which each of those persons applied".
(2) Section 15(2)(b)(vi) is deleted.
12. Section 23 amended and transitional
15 (1) Section 23(1a) is amended by deleting "building society" and
inserting instead --
" housing society ".
(2) During the period of 12 months after the day on which this Act
commences, a society (within the meaning of the Housing
20 Societies Act 1976) does not breach section 23(1a) of that Act,
even though it does not comply with that provision, if it would
not have been in breach of that provision had subsection (1) not
been enacted.
13. Sections 26 and 27 replaced
25 Sections 26 and 27 are repealed and the following sections are
inserted instead --
"
26. Interpretation of this Part
In this Part --
30 "amalgamated society" means the society that is
proposed to be formed, or has been formed, by the
page 7
Building Societies Amendment Bill 2001
Part 2 Amendments to the Building Societies Act 1976
s. 14
amalgamation of 2 or more societies under this
Part;
"amalgamating society" means a society that has
applied under section 28(1) for approval to
5 amalgamate with one or more other societies.
27. Amalgamation of societies
Subject to this Part, 2 or more societies may
amalgamate to form a society.
".
10 14. Section 29 amended
Section 29(1)(d) and (2) are amended by deleting "an
institution" and inserting instead --
" a society ".
15. Section 29B amended
15 (1) Section 29B(1) is amended by deleting "the society, or each
society, that is an amalgamating institution" and inserting
instead --
" each amalgamating society ".
(2) Section 29B(2) is amended by deleting "amalgamated
20 institution" and inserting instead --
" amalgamating society ".
16. Section 29C amended
(1) Section 29C(1)(a), (b), (e) and (f) are deleted.
(2) Section 29C(1)(c) and (d) are amended by deleting
25 "terminating" in each place where it occurs.
page 8
Building Societies Amendment Bill 2001
Amendments to the Building Societies Act 1976 Part 2
s. 17
17. Section 31 amended
(1) Section 31(1) is amended as follows:
(a) in paragraph (a) by deleting "provide financial
accommodation" and inserting instead --
5 " advance money ";
(b) by deleting paragraph (b);
(c) after paragraph (c) by deleting the semicolon and
inserting a full stop;
(d) by deleting paragraph (d) and the full stop.
10 (2) Section 31(2) is amended by deleting "the provision of financial
accommodation" and inserting instead --
" an advance of money ".
(3) Section 31(5) is repealed and the following subsection is
inserted instead --
15 "
(5) A society must not advance money unless there are
reasonable grounds for believing, before the
application for the advance is approved --
(a) that the person to whom the money is to be
20 advanced has, and will continue to have, an
income or other financial resources sufficient to
provide for the fulfilment of his or her
obligations in respect of that advance, or to
which the advance relates; or
25 (b) where the money is to be advanced with
security, that the security is adequate.
".
18. Section 32 amended
(1) Section 32(1) is amended by deleting "financial accommodation
30 that may be provided" and inserting instead --
" advance ".
page 9
Building Societies Amendment Bill 2001
Part 2 Amendments to the Building Societies Act 1976
s. 19
(2) Section 32(1) and (3) are amended by deleting "provide
financial accommodation" and inserting instead --
" advance money ".
19. Section 33 amended
5 (1) Section 33(1) is amended as follows:
(a) by deleting "provided with financial accommodation
under section 31(1)(a) or (d)" and inserting instead --
" advanced money under section 31(1)(a) ";
(b) by deleting "financial accommodation is to be provided"
10 and inserting instead --
" money is to be advanced ".
(2) Section 33(2) is amended as follows:
(a) by deleting ", except where the financial
accommodation to be provided is a guarantee";
15 (b) in paragraphs (a) and (b) by deleting "financial
accommodation is to be provided" and inserting
instead --
" money is to be advanced ".
20. Section 38 amended
20 Section 38(1) is amended by deleting "(other than a permanent
society)".
21. Section 39 amended
Section 39 is amended by deleting "(other than a Starr Bowkett
society)".
25 22. Section 41 amended
Section 41(1) is amended as follows:
(a) by deleting "Every permanent" and inserting instead --
" Each ";
page 10
Building Societies Amendment Bill 2001
Amendments to the Building Societies Act 1976 Part 2
s. 23
(b) by deleting paragraph (c) and inserting the following
paragraph instead --
"
(c) the total of member's paid up share capital,
5 ";
(c) after "calendar month" by inserting --
" (or such longer period as the Registrar allows) ".
23. Section 43 replaced
Section 43 is repealed and the following section is inserted
10 instead --
"
43. Distribution of reserves
An amount maintained by a society in a reserve
account --
15 (a) may be distributed to members in accordance
with the society's rules;
(b) may be distributed to members on the winding
up of the society; or
(c) may be applied to any other purpose to which
20 the capital of the society may be applied.
".
24. Section 45 amended
(1) Section 45(1) is amended by deleting "or have invested or may
invest in the society or have deposited or may deposit money
25 with the society".
(2) Section 45(2) and (3) are repealed and the following subsections
are inserted instead --
"
(2) Subject to this section, while this subsection applies to
30 a society, the society must not --
(a) borrow any money; or
page 11
Building Societies Amendment Bill 2001
Part 2 Amendments to the Building Societies Act 1976
s. 25
(b) make repayments of any loan, or otherwise
dispose of or deal with any property or assets of
the society without the consent of the Registrar.
(3) This section does not make it unlawful for a society to
5 borrow money from another society in accordance with
section 47(2) or, with the consent in writing of the
Registrar, to borrow money from an ADI.
".
25. Section 48 amended
10 (1) Section 48(1), (1a), (1b), (2) and (2a) are repealed and the
following subsection is inserted instead --
"
(1) A society may receive loans (other than from its
members) to be applied to the purposes of the society.
15 ".
(2) Section 48(3) is amended by deleting "Any member or other
person depositing or lending money with or to any society," and
inserting instead --
" A person lending money to a society ".
20 26. Section 50 amended
(1) After section 50(1) the following subsection is inserted --
"
(1a) Only a natural person can be a member of a society.
".
25 (2) Section 50(2a) is amended by deleting ", or section 37G of the
Credit Unions Act 1979,".
(3) Section 50(3) is amended by deleting "or acquired such shares
or interests, as are provided" and inserting instead --
" or acquired a share or other interest, as provided ".
page 12
Building Societies Amendment Bill 2001
Amendments to the Building Societies Act 1976 Part 2
s. 27
27. Section 51 amended
Section 51(1) is amended by deleting "or a depositor".
28. Section 53 amended
(1) Section 53(1), (2), (3) and (4) are repealed and the following
5 subsections are inserted instead --
"
(1) Shares issued by a society may be divided into classes
and the classes may have different rights attached to
them.
10 (2) Shares issued by a society must be of one
denomination, of a nominal amount and fully paid up.
(3) A member of a society may have only one share in the
society (whether held jointly or not).
".
15 (2) Section 53(8) is amended by deleting "together with the amount
(if any) in arrears in respect of the share".
29. Section 54 amended
(1) Section 54(1) is amended by deleting "shares in a society are"
and inserting instead --
20 " a share in a society is ".
(2) Section 54(2) is amended as follows:
(a) after paragraph (a) by inserting --
" and ";
(b) by deleting paragraph (b) and "and" after it;
25 (c) by deleting "the shares" and inserting instead --
" a share ".
(3) Section 54(3) is amended by deleting "shares" and inserting
instead --
" a share ".
page 13
Building Societies Amendment Bill 2001
Part 2 Amendments to the Building Societies Act 1976
s. 30
(4) Section 54(4) is amended by deleting "any shares" and inserting
instead --
" a share ".
30. Section 55 amended
5 Section 55 is amended by deleting "shares" and inserting
instead --
" share ".
31. Section 57 amended
Section 57(5) is amended by deleting all of the subsection from
10 and including "not more than 2 months" and inserting
instead --
"
not more than 3 months after the last preceding
meeting of the board.
15 ".
32. Section 59 amended
(1) Section 59(2) is amended by deleting "which is not a permanent
society".
(2) Section 59(4a)(b) is deleted and the following paragraph is
20 inserted instead --
"
(b) by reason of that vacancy, the society has less
than 5 directors, or less than the number of
directors that the Registrar has approved under
25 subsection (2),
".
page 14
Building Societies Amendment Bill 2001
Amendments to the Building Societies Act 1976 Part 2
s. 33
(3) Section 59(7) is repealed and the following subsection is
inserted instead --
"
(7) Subject to the rules of a society, not more than 2, or one
5 half, of the directors (whichever is the lesser number)
may be appointed from employees of the society.
".
33. Section 61 amended
(1) Section 61(1) and (2) are repealed and the following subsections
10 are inserted instead --
"
(1) A director of a society must not obtain an advance of
money from the society on conditions that are more
favourable than those generally extended to members,
15 and the society must not so advance money to a
director --
(a) if the director is also a full-time officer of the
society --
(i) if the advance is to be provided on the
20 security of a mortgage over his or her
ordinary place of residence -- except by
a resolution of the board; or
(ii) if the advance is to be provided other
than on such security -- except by
25 special resolution of the society;
(b) if the director is not also a full-time officer of
the society --
(i) if the advance is to be provided on the
security of a mortgage over his or her
30 ordinary place of residence -- except by
a resolution of a meeting of the society;
or
page 15
Building Societies Amendment Bill 2001
Part 2 Amendments to the Building Societies Act 1976
s. 34
(ii) if the advance is to be provided other
than on such security -- except by
special resolution of the society.
(2) If an advance is provided in contravention of
5 subsection (1), the directors who authorised the
advance are jointly and severally liable for any loss
suffered by the society in respect of the advance.
(2a) A society must not advance money to an officer of the
society who is not a director unless the advance has
10 been first approved at a meeting of the board of the
society.
".
34. Section 65 amended
(1) Section 65(1a) is amended by deleting "(1b), (1c) and (1d)" and
15 inserting instead --
" (1b) and (1c) ".
(2) Section 65(1b) is amended as follows:
(a) by deleting "financial accommodation provided" and
inserting instead --
20 " money advanced ";
(b) in paragraph (a) by deleting "advance or credit
provided" and inserting instead --
" money advanced ";
(c) in paragraph (b) by deleting "financial accommodation
25 approved" and inserting instead --
" advances of money approved ".
(3) Section 65(1c) is amended as follows:
(a) by deleting "financial accommodation has been
provided" and inserting instead --
30 " money has been advanced ";
page 16
Building Societies Amendment Bill 2001
Amendments to the Building Societies Act 1976 Part 2
s. 35
(b) by deleting "that financial accommodation" and
inserting instead --
" that advance ".
(4) Section 65(1e) is amended by deleting "financial
5 accommodation" and inserting instead --
" advance of money ".
(5) Section 65(9)(b) is amended by deleting "from members and
depositors" and "by depositors".
(6) Section 65(24) is amended by deleting "terminating or Starr
10 Bowkett".
(7) Section 65(25)(a) is amended by deleting "referred to in that
subsection".
35. Section 66 amended
(1) Section 66(1) is repealed and the following subsection is
15 inserted instead --
"
(1) The provisions of this section apply to a society despite
anything to the contrary in the rules of the society.
".
20 (2) Section 66(5)(a) is amended by deleting "other than
indebtedness of the kind referred to in section 68(5)(e)".
36. Section 71 amended
Section 71(3)(d) is deleted.
37. Section 75 amended
25 After section 75(4) the following subsection is inserted --
"
(5) For the purposes of this section, and a legal proceeding
in relation to --
(a) a right or liability acquired, accrued or
30 incurred; or
page 17
Building Societies Amendment Bill 2001
Part 2 Amendments to the Building Societies Act 1976
s. 38
(b) a thing done,
before the commencement of this subsection, "society"
has the meaning that it had immediately before that
commencement.
5 ".
38. Section 76 amended
(1) Section 76(1) is amended by deleting paragraph (a) and
inserting instead --
"
10 (a) trade, carry on business, or advertise for loan
funds under any name or title of which the
words "housing society" or "housing societies"
form a part;
".
15 (2) Section 76(1)(b) and (c) are amended by deleting "building" and
inserting instead --
" housing ".
(3) Section 76(2) is repealed and the following subsection inserted
instead --
20 "
(2) For the purposes of this section, a person or body of
persons, whether incorporated or unincorporated, is
taken to be trading or carrying on business as a housing
society if that person or body of persons administers a
25 fund or scheme the money of which is to be applied
solely or principally in loans to members of a group,
secured by mortgage over land, for the purpose of
purchasing or building dwelling-houses in which one
or more of those members reside or propose to reside.
30 ".
page 18
Building Societies Amendment Bill 2001
Amendments to the Building Societies Act 1976 Part 2
s. 39
(4) Section 76(3) and (4) are amended by deleting "building" and
inserting instead --
" housing ".
39. Section 78 amended
5 (1) Section 78(1) is amended by deleting "the provision of financial
accommodation" and inserting instead --
" an advance of money ".
(2) Section 78(3) is amended as follows:
(a) by deleting "the provision of financial accommodation"
10 in the first place where it occurs and inserting instead --
" an advance ";
(b) by deleting "the provision of financial accommodation"
in the second place where it occurs and inserting
instead --
15 " the advance ";
(c) by deleting "financial accommodation" in the third place
where it occurs and inserting instead --
" advance ".
40. Section 87 amended
20 Section 87(1) is amended by deleting "(not being a decision to
consent to or refuse the resignation of an auditor of a permanent
society)".
41. Section 88 amended
Section 88(1) is amended by deleting ", capital or deposits" and
25 inserting instead --
" or capital ".
page 19
Building Societies Amendment Bill 2001
Part 2 Amendments to the Building Societies Act 1976
s. 42
42. Section 90 amended
Section 90(1)(a) is amended by deleting "the provision of
financial accommodation" and inserting instead --
" advancing money ".
5 43. Various references to institution changed to society
(1) Each provision listed in the Table to this subsection is amended
by deleting "institution" in each place that it occurs and
inserting instead --
" society ".
10 Table
s. 29(1)(a) and (b) s. 29B(3), (4), (5) and (8)
s. 29(1)(d) (in the second s. 29C(3)(b) and (c)
place) s. 29D(5)(b)
s. 29(2) (in the second place)
and (3)
(2) Each provision listed in the Table to this subsection is amended
by deleting "institutions" in each place that it occurs and
inserting instead --
" societies ".
15 Table
s. 28(1) and (3) s. 29C(2)
s. 29(1)(a)(i) and (c) s. 50(2) and (2a)
s. 29A(a) and (c)
page 20
Building Societies Amendment Bill 2001
Amendments to the Building Societies Act 1976 Part 2
s. 44
44. Various provisions repealed
Each provision listed in the Table to this section is repealed.
Table
s. 15(3) s. 53(6), (9), (10), (10a),
s. 29D(2) (10b) and (11)
s. 29E(2) s. 53A
s. 29F s. 64A
s. 29G s. 64B
s. 34 s. 65(1d), (2a) and (2b)
s. 37 s. 67
s. 40 s. 68
s. 42 s. 71(8)
s. 45(7) s. 77
s. 50(2b) s. 92A
s. 52 Part XI
45. Various references to "moneys" amended
5 Each provision listed in the Table to this section is amended by
deleting "moneys" in each place that it occurs and inserting
instead --
" money ".
Table
s. 13A(b) s. 51(2)(b)
s. 16(1) and (2) s. 56(1)
s. 30(1) and (3) s. 62(c)
s. 31(1)(c) s. 81(1) and (2)
page 21
Building Societies Amendment Bill 2001
Part 3 Amendments to other Acts
s. 46
Part 3 -- Amendments to other Acts
46. Companies (Co-operative) Act 1943 amended
(1) The amendments in this section are to the Companies
(Co-operative) Act 1943*.
5 [* Reprinted as at 14 January 2000.]
(2) Section 28(1)(b) is deleted and the following paragraph is
inserted instead --
"
(b) contains the words "building society" or
10 "housing society";
".
(3) Section 176A(1)(c) is deleted and the following paragraph is
inserted instead --
"
15 (c) a society under the Housing Societies Act 1976;
".
47. Constitution Acts Amendment Act 1899 amended
Schedule V Part 3 of the Constitution Acts Amendment
Act 1899* is amended by deleting the item relating to the
20 Building Societies Advisory Committee.
[* Reprinted as at 19 May 2000.
For subsequent amendments see 2000 Index to Legislation of
Western Australia, Table 1, p. 86-7 and No. 43 of 2000.]
48. Equal Opportunity Act 1984 amended
25 (1) The amendments in this section are to the Equal Opportunity
Act 1984*.
[* Reprinted as at 21 July 2000.
For subsequent amendments see Acts Nos. 36 and 58 of
1999.]
page 22
Building Societies Amendment Bill 2001
Amendments to other Acts Part 3
s. 49
(2) Section 35N(1)(d) is deleted and the following paragraph is
inserted instead --
"
(d) the rules of a society registered under the
5 Housing Societies Act 1976.
".
(3) Sections 66ZS(1)(a)(iv) and 69(1)(b)(iv) are deleted and the
following subparagraph is inserted instead --
"
10 (iv) the rules of a society registered under
the Housing Societies Act 1976;
".
49. Housing Act 1980 amended
Section 55(5) of the Housing Act 1980* is amended by deleting
15 "in the case of a building society other than a permanent
building society" and inserting instead --
" in the case of a housing society ".
[* Reprinted as at 27 May 1999.
For subsequent amendments see 2000 Index to Legislation of
20 Western Australia, Table 1, p. 205.]
50. Real Estate and Business Agents Act 1978 amended
Section 131O(1)(e) of the Real Estate and Business Agents
Act 1978* is amended by deleting "Building Societies" and
inserting instead --
25 " Housing Societies ".
[* Reprinted as at 9 March 2001.]
page 23
Building Societies Amendment Bill 2001
Part 3 Amendments to other Acts
s. 51
51. Amendments consequential on changing the name of the Act
Each provision listed in the Table to this section is amended by
deleting "Building Societies Act 1976" and inserting instead --
" Housing Societies Act 1976 ".
5 Table
Companies (Co-operative) Sections 46(3a)(a), 172(1)(a) and
Act 1943 366 (the definition of "Company")
Country Housing Act 1998 Section 43(1)
Credit Act 1984 Section 18(1)
Credit (Administration)
Act 1984 Section 7(1)(h)
Criminal Property Glossary (paragraph (d) of the
Confiscation Act 2000 definition of "financial institution")
Finance Brokers Control
Act 1975 Section 5(1)(c)
Housing Act 1980 Section 52(1) (paragraph (a) of the
definition of "lending institution")
Housing Loan Guarantee
Act 1957 Sections 5(1)(a) and 10
Real Estate and Business Section 131A (paragraph (c) of the
Agents Act 1978 definition of "lending institution")
Stamp Act 1921 Third Schedule Items 3(2), 7(7) and
7(11)
Western Australian Treasury
Corporation Act 1986 Schedule 1 Item 4
page 24
[Index] [Search] [Download] [Related Items] [Help]