Financial Sector Reform (South Australia) Act 1999 (SA)

South Australia Financial Sector Reform (South Australia) Act 1999 An Act to facilitate the transfer to the Commonwealth of responsibility for regulating building societies, credit unions and friendly societies as companies under the Corporations Law; to provide for transitional matters; and for other purposes.

Contents Part 1—Preliminary 1 Short title 4 Interpretation Part 2—Conferral of functions and powers on APRA and ASIC 5 Conferral of functions and powers on APRA 6 Conferral of functions and powers on ASIC 6A Administrative functions and powers conferred on relevant Commonwealth bodies Part 3—Provisions relating to AFIC Division 1—AFIC to continue 7 Continuation of AFIC for certain purposes 8 Delegation of AFIC's powers Division 2—Provisions about AFIC's staff 9 Interpretation 10 Transfer of staff to APRA under transfer agreement 11 Effect of transfer under section 10 or of employees of AFIC becoming appointed to the Australian Public Service 12 Statement of accrued benefits etc Division 3—Information may be given to APRA or ASIC 13 Giving of information Division 4—Transfer of AFIC's assets and liabilities 14 Transfer of assets and liabilities Division 5—Proceedings involving AFIC 15 Continuation and preservation of certain civil proceedings involving AFIC 16 Continuation of certain offence proceedings Part 4—Provisions relating to SAOFS Division 1—Transfer of SAOFS' assets and liabilities 17 Transfer of assets and liabilities Division 2—Provisions about SAOFS' staff 18 Transfer of staff to APRA under transfer agreement 19 Effect of transfer to APRA or APS 20 Statement of accrued benefits etc Division 3—Winding up of Funds 21 Supervision Fund 22 Credit Unions Contingency Fund Division 4—Proceedings involving SAOFS 23 Continuation and preservation of civil proceedings involving SAOFS 24 Continuation of certain offence proceedings Division 5—Information may be given by SAOFS 25 Giving of information Part 5—Enforcement by APRA and ASIC of repealed Codes 26 Conferral of enforcement powers on APRA and ASIC 27 AFIC Code provisions 28 Financial Institutions Code provisions 29 Friendly Societies Code provisions 30 Conferral of functions and powers Part 6—Other transitional provisions 31 Dormant accounts 32 Withdrawable shares in building societies 33 Matters in relation to deregistered financial bodies and societies 34 Mergers and transfers of engagements commenced under Financial Institutions (South Australia) Code 35 Mergers and transfers of engagements commenced under Friendly Societies (South Australia) Code 36 Australian Financial Institutions Appeals Tribunal Part 7—Miscellaneous 37 Registration or record of transfer 38 Exemption from State taxes 39 Relationship of Act with other laws 40 Regulations Legislative history