Building Societies Amendment Regulations 2001 (WA)

21 December 2001 GOVERNMENT GAZETTE, WA 6543

HOUSING AND WORKS

IINV301*

Housing Societies Act 1976

Building Societies Amendment Regulations 2001

Made by the Lieutenant-Governor and deputy of the Governor in
Executive Council.

1.            Citation

These regulations may be cited as the Building Societies
Amendment Regulations 2001.

2.           The regulations amended

The amendments in these regulations are to the Building
Societies Regulations 1977* .

[* Published in Gazette 4 March 1977, p. 667-84.

For amendments to 9 November 2001 see 2000 Index to

Legislation of Western Australia, Table 4, p. 34.]

" Housing Societies Act 1976 "

3.            Regulation 1 amended and transitional

(1)	Regulation 1 is amended by deleting "Building Societies Regulations, 1977" and inserting instead —
" Housing Societies Regulations 1977 ".
(2)	Unless the contrary intention appears, a reference in subsidiary legislation or any other document to the "Building Societies Regulations 1977" is taken to be a reference to the "Housing Societies Regulations 1977".

4.            Regulation 2 amended

Regulation 2 is amended in the definition of "the Act" by deleting "Building Societies Act, 1976" and inserting instead —

6544 GOVERNMENT GAZETTE, WA 21 December 2001

5.            Regulation 4A amended

Regulation 4A(3) is amended by deleting "15(2)(vii)" and inserting instead -

15(2)(b)(vii) of the Act ".

6.            Regulation 6 replaced

Regulation 6 is repealed and the following regulation is inserted instead -

44  

6.            Prescribed number of members

(1)	The prescribed number of members of a society for the purposes of section 14 of the Act is 10.
(2)	The prescribed number of members of a society for the purposes of section 71(3) of the Act is 10.

7.            Regulation 7 amended

Regulation 7(2) and (3) are amended by inserting after
"section 31(3)" -

46

of the Act ".

8.            Regulation 8 amended

(1)	Regulation 8(1) is repealed.
(2)	Regulation 8(2) is amended by deleting ", whether a permanent society or a terminating society,".

9.            Regulation 9 amended

(1) Regulation 9(6) is repealed.

(2) Regulation 9(7) is amended by deleting "terminating".

10.          Regulation 10 amended

Regulation 10 is amended as follows:

(a) by inserting after "section 41" -

44

of the Act ";

(b) by deleting "subsection (2) of section 9" and inserting instead -

46

section 9(2) of the Act ".

11.          Regulation 11 amended

Regulation 11 is amended by deleting "subsection (24) of section 65" and inserting instead -

46

section 65(24) of the Act ".

21 1)eccmher 2001 GOVERNMENT GAZETTE, WA 6545

12.          Regulation 12 amended

Regulation 12 is amended by deleting "subsection (5) of section 71 and of section 80" and inserting instead -

46

section 71(5) and section 80 of the Act ".

13. Regulation 13 amended
Regulation 13 is amended as follows:

(a) by inserting after "section 16" -

of the Act ";

(b) by deleting "Building".

14.          Regulation 14 amended

Regulation 14 is amended by deleting "subsection (7) of section 71" and inserting instead -

46

section 71(7) of the Act ".

15.          Second Schedule amended

(1)	The Second Schedule item (7) is amended by deleting ", drafts, bills of exchange, promissory notes and other negotiable instruments".
(2)	The Second Schedule item (8) is amended by deleting "and the maximum shareholding".

(3) The Second Schedule item (9) is repealed.

16.          Third Schedule amended

(1)	The Third Schedule item (1) is repealed.
(2)	The Third Schedule item (2) is amended by deleting "terminating".
(3)	The Third Schedule item (3) is repealed and the following item
is inserted instead -

"

(3) For an application for registration
of an amalgamated society .............3.00

(4)	The Third Schedule item (4) is amended by deleting "building".
(5)	The Third Schedule item (6)(a) is repealed and the following item is inserted instead -

44

(6)(a) For an application to register

alteration of rules, being a new
set of rules................................3.00

17.          Fourth Schedule amended

(1) The Fourth Schedule is amended by deleting "Building" in each

place where it occurs.

6546 GOVERNMENT GAZETTE, WA 21 December 2001

(2) The Fourth Schedule is amended by deleting

"65(21) Annual Return 19 ".

18.          Fifth Schedule amended

(1) The Fifth Schedule is amended by deleting "Building Societies

Act, 1976" in each place where it occurs and inserting instead -

" Housing Societies Act 1976 ".

(2) The Fifth Schedule is amended by deleting "Building Societies

Act 1976" in each place where it occurs and inserting instead -

" Housing Societies Act 1976 ".

(3) The Fifth Schedule is amended by deleting "Building Society"

in each place where it occurs and inserting instead -

46 Society

(4) The Fifth Schedule is amended by deleting "of Co-operative and

Financial Institutions" in each place where it occurs.

(5)	The Fifth Schedule Form 1 is amended by deleting "Building Societies Act" in the second place where it occurs and inserting instead -
" Housing Societies Act 1976 ".

(6) The Fifth Schedule Form 5 is amended as follows:

(a)	by deleting "each share" and inserting instead - " shares ";
(b)

by deleting "No. of Shares Applied for" and inserting " Class of shares (if more than one class)

(7) The Fifth Schedule Form 11 is amended by deleting ", Credit

Union, Financial Society" in each place where it occurs.

(8) The Fifth Schedule Form 14 is amended as follows:

(a)	by deleting "of the provision of financial accommodation" and inserting instead - " an advance of money ";
(b)

by deleting "the financial accommodation" in both " the advance ";

(c)

by deleting "which financial accommodation" and " which the advance

(d)	by deleting "A. Other than Guarantees";
(e)	by deleting all of the Form from and including "B. Guarantees" to, but not including, "Dated".

21 I)ecemher 2001 GOVERNMENT GAZETTE, WA 6547

(9) The Fifth Schedule Form 17 is amended as follows:

(a) under the heading "Shares and Reserves", by deleting "Fully paid fixed term shares", "Contributing fixed term shares", "No fixed term shares", and "Other shares" and inserting instead -

"

Borrowing

Ordinary

(b)	under the heading "Advances on Mortgages", by deleting "Loans under continuing credit arrangements";
(c)	under the heading "Directions" by deleting from paragraph (d)(i) "deposits," and "and overdrafts";
(d)	under the heading "Directions" by deleting paragraph (e).

(10) The Fifth Schedule Form 18 is amended as follows:

(a)	by deleting "Interest under continuing credit arrangements";
(b)	by deleting "Deposits and";
(c)	under the heading "Directions" by deleting paragraph (e).

(11) The Fifth Schedule Form 19 is amended as follows:

(a)	in item 4 by deleting "INVESTING";
(b)	by deleting item 7 and inserting instead -

"

7. USUAL RATE OF INTEREST CHARGED ON

ADVANCES

(a) PURCHASER OCCUPIER

(b) OTHERS

(c) by deleting item 8 and the notes at the end of item 8 and inserting instead -

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8. DETAILS OF BORROWINGS BY THE SOCIETY

COLUMN No. 1	2	3	4	5
Received	Paid	Balance
During	During
End Last	End This
Year	Year	Year	Year
$	$	$	$

BORROWINGS WINGS

By Command of the Lieutenant-Governor and deputy of the Governor,

M. C. WAUCHOPE, Clerk of the Executive Council.