Victorian Current Acts

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FINANCIAL SECTOR REFORM (VICTORIA) ACT 1999 - SECT 42

Conferral of functions and powers relating to financial institutions and friendly societies

    (1)     Either relevant Commonwealth body has the same enforcement powers relating to anything done or omitted to be done under a Code before the transfer date as AFIC or VicFIC had immediately before that date.

    (2)     For the purposes of subsection (1), a Code applies with all necessary changes.

    (3)     In this section—

"Code" means—

        (a)     AFIC Code;

        (b)     Financial Institutions Code;

        (c)     Friendly Societies Code.


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