Contents (1999 - 1)
Financial Sector Reform (New South Wales) Act 1999 No 1
Status information

Long title

Part 1 Preliminary

1 Name of Act and purposes
2 Commencement
3 Definitions
4 Act to bind Crown

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 Certificates in relation to land and interests in land
14 Certificates in relation to other assets
15 Documents purporting to be certificates
16 Relationship of Part with other instruments

Part 5 Repeals and transitional provisions

Division 1 Repeals

17 Repeals

Division 2 Provisions relating to AFIC

Subdivision 1 AFIC to continue

18 AFIC continues to have certain powers
19 Delegation of AFIC’s powers

Subdivision 2 Provisions about AFIC’s staff

20 Definition
21 Transfer of staff to APRA under transfer agreement
22 Effect of transfer to APRA or Australian Public Service
23 Statement of accrued benefits and other details

Subdivision 3 Information may be given to APRA or ASIC

24 Giving of information

Subdivision 4 Transfer of AFIC’s assets and liabilities

25 Transfer of assets and liabilities

Subdivision 5 Proceedings involving AFIC

26 Continuation and preservation of certain civil proceedings involving AFIC
27 Continuation of certain offence proceedings

Division 3 Provisions relating to FINCOM

Subdivision 1 Dissolution of FINCOM

28 Dissolution of FINCOM

Subdivision 2 General

29 Supervision Fund
30 Credit Unions Contingency Fund
31 Transitional arrangements regarding final report and audit of FINCOM

Subdivision 3 Provisions about FINCOM’s staff

32 Transfer of staff to APRA under transfer agreement
33 Effect of transfer to APRA or Australian Public Service
34 Statement of accrued benefits and other details

Subdivision 4 Information may be given to APRA or ASIC

35 Giving of information

Subdivision 5 Transfer of FINCOM’s assets and liabilities

36 Transfer of assets and liabilities

Subdivision 6 Proceedings involving FINCOM

37 Continuation and preservation of civil proceedings involving FINCOM
38 Continuation of certain offence proceedings

Division 4 APRA’s and ASIC’s functions and powers under Codes

39 Conferral of functions and powers relating to building societies, credit unions and friendly societies
40 AFIC Code provisions
41 Financial Institutions Code provisions
42 Financial Institutions Code provisions as applied under section 40 of AFIC Code
43 Friendly Societies Code provisions
44 Conferral of functions and powers

Division 5 Miscellaneous

45 Dormant accounts
46 Withdrawable shares in building societies
47 Matters in relation to dissolved or deregistered societies
48 Mergers and transfers of engagements commenced under Financial Institutions (NSW) Code
49 Mergers and transfers of engagements commenced under Friendly Societies (NSW) Code
50 Australian Financial Institutions Appeals Tribunal

Division 6 State taxes

51 Exemption from State taxes

Division 7 References to building societies, credit unions and friendly societies

52 Building societies and credit unions
53 Friendly societies

Division 8 Savings or transitional regulations

54 Savings or transitional regulations

Part 6 Amendments

55 (Repealed)

Part 7 Miscellaneous

56 Delegation
57 Regulations

 Schedules 1, 2 (Repealed)

Historical notes