Building Societies Act and Another Act Amendment Act 1971 (Qld)

740 (1 uP2nsfall r ANNO VICESIMO ELIZABETHAE SECUNDAE REGINAE No. 56 of 1971 An Act to Amend The Building Societies Acts 1886 to 1968, and The Co-operative Housing Societies Acts 1958 to 1967, each in certain particulars [ASSENTED TO 2ND DECEMBER, 19711 BE IT ENACTED by the Queen ' s Most Excellent Majesty, by and with the advice and consent of the Legislative Assembly of Queensland in Parliament assembled , and by the authority of the same, as follows:- PART I-PRELIMINARY 1. Short title and citation . This Act may be cited as the Building Societies Act and Another Act Amendment Act 1971. 2. Parts of Act. This Act is divided into Parts as follows: PART I-PRELIMINARY (SS. 1-2); PART 11-AMENDMENTS OF THE BUILDING SOCIETIES ACTS 1886 TO 1968 (ss. 3-4): PART III-AMENDMENTS OF THE CO-OPERATIVE HOUSING SOCIETIES ACTS 1958 To 1967 (ss. 5-6).

Building Societies Act and Another Act Amendment Act 1971, No. 56 -741 PART II-AMENDMENTS OF THE BUILDING SOCIETIES ACTS 1886 TO 1968 3. Citation . (1) The Building Societies Act of 1886 as subsequently amended from time to time is in this Part referred to as the Principal Act. (2) The Principal Act as amended by this Part may be cited as the Building Societies Act 1886-1971. 4. New ss. 44A, 44B. After section 44 of the Principal Act, the following sections are inserted:- "44A. Advisory Committee . (1) The Housing and Building Societies Advisory Committee as constituted from time to time under section 57 of the Co-operativeHousing Societies Act1958-1971 shall constitute, and be additionally, an advisory committee under this Act. (2) The committee shall meet at such times and places and conduct its business under this Act in such manner as may be prescribed or, in so far as. not prescribed, it deems fit. (3) The functions of.the committee under this Act may be performed and discharged in conjunction with its functions under any other Act. (4) Fees and allowances which may be payable to members of the committee under subsection (5) of section 57 of the Co-operative Housing Societies Act1958-1971 may be fixed having regard to the functions of the committee under this Act. 44B. Functions of Advisory Committee . The committee as constituted under subsection (1) of section 44A of this Act shall have, under this Act, functions as follows:- (a) observing the progress of registered building societies; (b) to undertake at regular intervals reviews of the administration of registered building societies; (c) consideration of economic influences affecting the operations of such societies; (d) submission to the Minister from time to time, or as the Minister may direct, reports, and recommendations as the committee deems necessary or proper, with respect to matters specified in paragraphs (a), (b) and (c) of this section; and (e) the performance of such other duties as may be directed by the Minister and in such manner as the Minister may direct.". PART 111-AMENDMENTS OF THE CO-OPERATIVE HOUSING SOCIETIES ACTS 1958 To 1967 5. Citation . (1) The Co-operative Housing Societies Act of 1958 as subsequently amended from time to time is in this Part referred to as the Principal Act. (2) The Principal Act as amended by this Part may be cited as the Co-operative Housing Societies Act1958-1971.

742 Building Societies Act and Another Act Amendment Act 1971, No. 56 6. Amendment of s. 57. Housing and Building Societies Advisory Committee . (1) Section 57 of the Principal Act is amended- (a) by omitting from subsection (1) the words " Co-operative Housing " and inserting in their stead the words " Housing and Building Societies "; and (b) by omitting from subsection (1) the word " five " and inserting in its stead the word " seven ". (2) The alteration in name of the committee shall not affect constitution of the committee as constituted immediately before the commencement of this Act under section 57 of the Principal Act and the members of that committee shall, subject to the Principal Act as amended by this Act, continue to constitute the committee under the said section 57 as amended by this Act.