Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999 (44 of 1999)
Schedule 8 Transitional, saving and application provisions
Part 1 Transitional provisions relating to transfer from State and Territory regulatory regimes
Division 1 Interpretation
1 Definitions
(1) In this Part:
AFIC means the Australian Financial Institutions Commission.
AFIC Code means any of the following Codes of a State or Territory:
(a) the AFIC (NSW) Code of New South Wales;
(b) the AFIC (Victoria) Code of Victoria;
(c) the AFIC (Queensland) Code of Queensland;
(d) the AFIC (Western Australia) Code of Western Australia;
(e) the AFIC (South Australia) Code of South Australia;
(f) the AFIC (Tasmania) Code of Tasmania;
(g) the AFIC (ACT) Code of the Australian Capital Territory;
(h) the AFIC (NT) Code of the Northern Territory.
APRA means the Australian Prudential Regulation Authority.
APRA Act means the Australian Prudential Regulation Authority Act 1998.
APRA employee means a person appointed under section 45 of the APRA Act.
ASIC means the Australian Securities and Investments Commission.
FIC body means a body that is a society, or a special services provider, as defined in section 3 of any of the Financial Institutions Codes.
Financial Institutions Code means any of the following Codes of a State or Territory:
(a) the Financial Institutions (NSW) Code of New South Wales;
(b) the Financial Institutions (Victoria) Code of Victoria;
(c) the Financial Institutions (Queensland) Code of Queensland;
(d) the Financial Institutions (Western Australia) Code of Western Australia;
(e) the Financial Institutions (South Australia) Code of South Australia;
(f) the Financial Institutions (Tasmania) Code of Tasmania;
(g) the Financial Institutions (ACT) Code of the Australian Capital Territory;
(h) the Financial Institutions (NT) Code of the Northern Territory.
Friendly Societies Code means any of the following Codes of a State or Territory:
(a) the Friendly Societies (NSW) Code of New South Wales;
(b) the Friendly Societies (Victoria) Code of Victoria;
(c) the Friendly Societies (Queensland) Code of Queensland;
(d) the Friendly Societies (Western Australia) Code of Western Australia;
(e) the Friendly Societies (South Australia) Code of South Australia;
(f) the Friendly Societies (Tasmania) Code of Tasmania;
(g) the Friendly Societies (ACT) Code of the Australian Capital Territory;
(h) the Friendly Societies (NT) Code of the Northern Territory.
friendly society means a body that is a society for the purposes of any of the Friendly Societies Codes.
SSA means any of the following:
(a) the New South Wales Financial Institutions Commission;
(b) the Victorian Financial Institutions Commission;
(c) the Queensland Office of Financial Supervision;
(d) the Western Australian Financial Institutions Authority;
(e) the South Australian Office of Financial Supervision;
(f) the Tasmanian Office of Financial Supervision;
(g) the Registrar of Financial Institutions of the Australian Capital Territory;
(h) the Territory Supervisory Authority of the Northern Territory.
State or Territory employee means a person who, immediately before the transfer date, is:
(a) an officer, employee, or member of the staff of, AFIC or an SSA; or
(b) the Executive Director of AFIC; or
(c) the holder of any other statutory office within AFIC or an SSA, other than a statutory office of member (including a Chair or Deputy Chair, however described) of, or of the governing body of, AFIC or an SSA; or
(d) an officer, employee, or member of the staff of, a State or Territory, or an authority of a State or Territory, whose duties consist of or include assisting AFIC or an SSA in the performance of its functions or the exercise of its powers.
Territory means the Australian Capital Territory or the Northern Territory.
transfer agreement means an agreement entered into:
(a) by or on behalf of the Treasurer; and
(b) by or on behalf of a Minister of a State or Territory, or 2 or more such Ministers;
that provides for matters connected with the transfer of staff, assets or liabilities from AFIC or an SSA to APRA or ASIC.
transfer date has the meaning given by section 2 (which is at the front of this Act).
transferring body means a body that, immediately before the transfer date, was:
(a) an FIC body; or
(b) a friendly society.
(2) In this Part, a reference to a transfer agreement determining or specifying a person, thing or other matter includes a reference to a person or persons determining or specifying that person, thing or matter, as permitted by that transfer agreement.