The main purposes of this Act are—
(a) to facilitate the registration of building societies, credit unions and friendly societies and related bodies as companies under the Corporations Law in accordance with amendments made by the Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999 of the Commonwealth; and
(b) to enact transitional and ancillary provisions; and
(c) to amend the Co-operative Housing Societies Act 1958 .