Australian Financial Institutions Commission Amendment Regulation (No. 1) 1994 (Qld)

Queensland Subordinate Legislation 1994 No. 303 Australian Financial Institutions Commission Act 1992 AUSTRALIAN FINANCIAL INSTITUTIONS COMMISSION AMENDMENT REGULATION (No. 1) 1994 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Regulations amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Amendment of s 5 (Application of Financial Institutions Code (s 40)) . . . 2 4 Insertion of new s 5A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 5A Payment to persons required to attend or produce documents (s 52) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 5 Amendment of s 13 (Fees (s 14(1) of the Act)) . . . . . . . . . . . . . . . . . . . . . . 4

s1 2 s3 Australian Financial Institutions Commission No. 303, 1994 Amendment (No. 1) ˙ Short title 1. This regulation may be cited as the Australian Financial Institutions Commission Amendment Regulation (No. 1) 1994 . ˙ Regulations amended 2. This regulation amends the AustralianFinancialInstitutionsCommission Regulations 1992 . ˙ Amendment of s 5 (Application of Financial Institutions Code (s 40)) 3.(1) Section 5, ‘as if it’— omit, insert — ‘and to AFIC as if the special services provider’. (2) Section 5(a), after ‘6’— insert — ‘, 6A’. (3) Section 5(e), ‘, except section 140’— omit . (4) Section 5(g)— omit, insert — ‘(g) subject to subsections (2) and (3)—Part 6, Division 1 (except section 238(b)), Division 2 (except sections 252(3), 253 and 254), Division 3 (except section 263(2)), Division 4 (except section 266(2)), Division 5 (except section 278(4)(e) and (5)(d) and (e)) and Division 6 (Management);’. (5) Section 5(h), before ‘1’— insert — ‘1A,’. (6) Section 5— insert —

s4 3 s4 Australian Financial Institutions Commission No. 303, 1994 Amendment (No. 1) ‘ (2) Section 234(5) of the Financial Institutions Code applies to a special services provider as if the words ‘or appointed’ were inserted after the word ‘elected’. ‘ (3) Section 239(2) and (3) of the Financial Institutions Code do not apply to a special services provider in relation to a director who was not elected.’. ˙ Insertion of new s 5A 4. After section 5— insert — ˙ ‘ Payment to persons required to attend or produce documents (s 52) ‘ 5A.(1) This section specifies the allowances and expenses to be allowed to a person required to attend under section 52 of the Code. ‘ (2) The person must be paid— (a) if the person is remunerated in the person’s occupation by wages, salary or fees—an amount equal to the amount of wages, salary or fees not paid to the person because of the person’s attendance; or (b) in any other case—an amount, of not less than $46 or more than $76 for each day of attendance, that AFIC considers to be reasonable compensation for the person’s loss of income because of the person’s attendance. ‘ (3) The person must also be reimbursed for any amount incurred by the person, of not more than an amount AFIC considers to be reasonable in each case— (a) for transport between the person’s usual place of residence and the place of attendance; and (b) if the person is required to be absent overnight from the person’s usual place of residence because of the attendance—for meals and accommodation.’.

s5 4 s5 Australian Financial Institutions Commission No. 303, 1994 Amendment (No. 1) ˙ Amendment of s 13 (Fees (s 14(1) of the Act)) 5.(1) Section 13(g), ‘sections’— omit, insert — ‘section’. (2) Section 13— insert — ‘(q) for an application to reserve a name under section 47C of the Code—$100.’. ENDNOTES 1. Made by the Governor in Council on 18 August 1994. 2. Notified in the Gazette on 19 August 1994. 3. Laid before the Legislative Assembly on . . . 4. The administering agency is the Treasury Department. © State of Queensland 1994