Building Societies Amendment Act 1982 (WA)

WESTERN AUSTRALIA.

BUILDING SOCIETIES.

No. 71 of 1982.

AN ACT to amend the Building Societies Act

1976-1982.

[Assented to 29 October 1982.]

BE it enacted by the Queen's Most ExcellentMajesty, by and with the advice and consent of the Legislative Council and the Legislative Assembly of Western Australia, in this present Parliament assembled, and by the authority of the same, as follows:—

1. (1) This Act may be cited as the Building ElgrItiatn

Societies Amendment Act 1982.

A No. 47 of ct

(2) In this Act the Building Societies Act 76 amended	19
by Ats os.

1976-1982 is referred to as the principal Act. 20 /977N; ofc

56 of 1978 and 10 of 1982.

(3) The principal Act as amended by this Act

may be cited as the Building Societies Act 1976-1982.

No. 71.] Building Societies. [1982.

Section 48

amended. 2. Section 48 of the principal Act is amended

(a) in subsection (2), by deleting "A" and substituting the following-

" Except with the prior approval of the Treasurer given pursuant to subsection (2a), a " ; and

(b) by inserting the following subsection

CI

(2a) The Treasurer may approve of a society borrowing moneys otherwise than in Australian currency or under- taking to repay moneys borrowed otherwise than in Australian currency and an approval given for the purposes of this subsection

(a) may be given-

(i)

subject to such terms

and conditions;

(ii)  for such period (expressed by reference to time or the happen- ing of any event);

(iii)  generally or only in relation to such circum- stances,

as the Treasurer specifies in

writing; and

(b) may be varied or revoked by the Treasurer at any time. " .