Federal Register of Legislation
Financial Sector Legislation Amendment (Restructures) Act 2007
No. 117, 2007
An Act to amend certain laws relating to the financial sector, and for related purposes
Contents 1 Short title 2 Commencement 3 Schedule(s)
Schedule 1—Restructure relief: corporations law aspects Financial Sector (Transfers of Business) Act 1999
Schedule 2—Restructure relief: taxation aspects Income Tax Assessment Act 1997
Schedule 3—Consequential amendments Australian Prudential Regulation Authority Act 1998 Financial Sector (Transfers of Business) Act 1999 Income Tax Assessment Act 1997 Life Insurance Act 1995
Financial Sector Legislation Amendment (Restructures) Act 2007
No. 117, 2007
An Act to amend certain laws relating to the financial sector, and for related purposes
[Assented to 28 June 2007]
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the Financial Sector Legislation Amendment (Restructures) Act 2007.
2 Commencement
This Act commences on the day on which it receives the Royal Assent.
3 Schedule(s)
Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Schedule 1—Restructure relief: corporations law aspects
Financial Sector (Transfers of Business) Act 1999
1 Subsection 4(1) Insert:
general insurer has the meaning given by the Insurance Act 1973.
2 Subsection 4(1) Insert:
holding company, of a body corporate, means another body corporate of which the first body corporate is a subsidiary.
3 Subsection 4(1) Insert:
internal transfer certificate has the meaning given by section 36L.
4 Subsection 4(1) Insert:
NOHC is short for non‑operating holding company.
5 Subsection 4(1) Insert:
non‑operating holding company, of a body corporate, has the same meaning as in the Banking Act 1959.
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