Financial Institutions (Queensland-Savings and Transitional Provisions) Amendment Regulation (No. 1) 1993 (Qld)

Queensland Subordinate Legislation 1993 No. 230 Financial Institutions (Queensland) Act 1992 FINANCIAL INSTITUTIONS (QUEENSLAND—SAVINGS AND TRANSITIONAL PROVISIONS) AMENDMENT REGULATION (No. 1) 1993 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Amended regulation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Insertion of new ss.5–6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 5 Recording of change of name of society having effect under s.414(4) of Code . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 6 Contribution to Credit Societies’ Guarantee Fund . . . . . . . . . . . . . . 2

2 Financial Institutions (Queensland—Savings and Transitional Provisions) Amendment (No. 1) No. 230, 1993 ˙ Short title 1. This regulation may be cited as the Financial Institutions (Queensland—Savings and Transitional Provisions) Amendment Regulation (No. 1) 1993 . ˙ Amended regulation 2. The FinancialInstitutions(Queensland—SavingsandTransitionalProvisions) Regulation 1992 is amended as set out in this regulation. ˙ Insertion of new ss.5–6 3. After section 4— insert— ˙ ‘Recording of change of name of society having effect under s.414(4) of Code ‘5.(1) This section applies if— (a) a society’s name is changed under section 414(4) of the Financial Institutions (Queensland) Code; and (b) an estate or interest in land was registered in the name of the society before the change of name. ‘(2) No fee is payable for the recording of the change of name in relation to the estate or interest by— (a) if the Real Property Act 1861 applies to the estate or interest—the Registrar of Titles; or (b) if the Real Property Act 1861 does not apply to the estate or interest—the person or authority charged with registering instruments of title to or dealings with the estate or interest. ˙ ‘Contribution to Credit Societies’ Guarantee Fund ‘6.(1) This section applies to amounts of contributions paid by a continuing credit union to the Credit Societies’ Guarantee Fund (the

3 Financial Institutions (Queensland—Savings and Transitional Provisions) Amendment (No. 1) No. 230, 1993 “Guarantee Fund” ) under section 142(1)(a) of the Credit Societies Act1986 and standing to the credit of the Guarantee Fund immediately before the amount standing to the credit of the Guarantee Fund was credited to Credit Unions Contingency Fund (the “Contingency Fund” ) under section 22 of the Act. ‘(2) The amounts of contributions are taken to be contributions paid by the continuing credit union to the Contingency Fund under section 98 of the Financial Institutions (Queensland) Code. ‘(3) For the purpose of subsection (1), amounts of contributions paid by a credit society to the Guarantee Fund under section 142(1)(a) of the CreditSocieties Act 1986 are taken to have been paid by a continuing credit union if— (a) the credit society transferred all its engagements to the continuing credit union; or (b) the credit society transferred all its engagements to another credit society that, in turn, transferred all its engagements to the continuing credit union. ‘(4) In this section— “credit society” has the same meaning as in the Credit Societies Act 1986 . ‘(5) This section is taken to have commenced on 1 July 1992. ’. 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