Australian Financial Institutions Commission Amendment Regulation (No. 1) 1993 (Qld)

Queensland Subordinate Legislation 1993 No. 232 Australian Financial Institutions Commission Act 1992 AUSTRALIAN FINANCIAL INSTITUTIONS COMMISSION AMENDMENT REGULATION (No. 1) 1993 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Amended regulation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 4 Amendment of s.5 (Application of Financial Institutions Code (s.40)) . . . 2 5 Amendment of s.6 (Application for review (s.67)) . . . . . . . . . . . . . . . . . . . . 2 6 Amendment of s.10 (Register of financial interests (s.156(3))) . . . . . . . . . 2 7 Insertion of new ss.10A, 10B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 10A Prescribed changes in financial interests (s.156(6)) . . . . . . . . . . . . . 2 10B Meaning of “associate” (s.157(7)) . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 8 Amendment of s.11 (Application of Financial Administration andAudit Act (s.165)) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

2 Australian Financial Institutions Commission Amendment (No. 1) No. 232, 1993 ˙ Short title 1. This regulation may be cited as the Australian Financial Institutions Commission Amendment Regulation (No. 1) 1993 . ˙ Commencement 2. This regulation commences on 1 July 1993. ˙ Amended regulation 3. The Australian Financial Institutions Commission Regulations 1992 is amended as set out in this regulation. ˙ Amendment of s.5 (Application of Financial Institutions Code (s.40)) 4. Section 5(e)— omit ‘ 139 ’, insert ‘ 140 ’. ˙ Amendment of s.6 (Application for review (s.67)) 5. Section 6(3)— omit ‘ Act ’, insert ‘ Code ’. ˙ Amendment of s.10 (Register of financial interests (s.156(3))) 6. Section 10(1)— omit ‘ who ’. ˙ Insertion of new ss.10A, 10B 7. After section 10— insert— ˙ ‘Prescribed changes in financial interests (s.156(6)) ‘10A. The following changes are prescribed for the purposes of

3 Australian Financial Institutions Commission Amendment (No. 1) No. 232, 1993 section 156(6) of the Code— (a) in the case of a change in a financial interest consisting of withdrawable shares or the deposit of money—a change that is a non-reportable cash transaction, or a non-reportable currency transfer, within the meaning of the Cash Transaction Reports Act 1988 (Commonwealth); (b) in the case of a change in a financial interest consisting of a current account or of an overdraft or credit card arrangement—a change given on the financial institution’s usual commercial terms. ˙ ‘Meaning of “associate” (s.157(7)) ‘10B. For the purposes of section 157(7) of the Code, the question whether a prescribed person is associated with a person or body is to be determined under section 4 of the Financial Institutions Code. ’. ˙ Amendment of s.11 (Application of Financial Administration andAudit Act (s.165)) 8.(1) Section 11(1)(a)(i) to (iv)— omit ‘ and ’. (2) Section 11(1)(a)(v)— omit ‘ 73 and 74 ’, insert ‘ 98 and 99 ’. (3) Section 11(1)(b) and (2)(b)— omit ‘ section 75A (obtaining report from appropriate Minister) ’, insert ‘ section 103 (obtaining comments on proposed audit reports) ’. (4) Section 11(2)(a)(i) and (ii)— omit ‘ and ’.

4 Australian Financial Institutions Commission Amendment (No. 1) No. 232, 1993 ENDNOTES 1. Made by the Governor in Council on 24 June 1993. 2. Notified in the Gazette on 25 June 1993. 3. Laid before the Legislative Assembly on . . . 4. The administering agency is the Treasury Department. The State of Queensland 1993