Victorian Current Acts

FINANCIAL SECTOR REFORM (VICTORIA) ACT 1999 - SECT 21

    (1)     This section applies despite—

        (a)     the repeal of the AFIC Act by the Financial Sector Reform (Queensland) Act 1999 of Queensland; and

        (b)     the repeal of the Financial Institutions (Victoria) Act 1992 .

    (2)     AFIC and its board continue in existence, but only for the following purposes—

        (a)     to give effect to matters relating to the transfer, under a law of the Commonwealth or of another State or a Territory or this Act, of any of its functions under the fiscal bodies legislation to APRA or ASIC;

        (b)     to prepare reports and financial statements.