Financial Institutions (Supervisory Authority) Regulations 1992 (ACT)

AUSTRALIAN CAPITAL TERRITORY

Regulations 1992    No. 101

Financial Institutions (Supervisory Authority) Regulations

The Australian Capital Territory Executive hereby makes the following Regulations under the Financial Institutions (Supervisory Authority) Act 1992.

Dated 5 July 1992.

ROSEMARY FOLLETT

Minister

TERRY CONNOLLY

Minister

Citation

1.  These Regulations may be cited as the Financial Institutions (Supervisory Authority) Regulations.

Interpretation

2.  In these Regulations, unless the contrary intention appears—

“the Act” means the Financial Institutions (Supervisory Authority) Act 1992.

Registration of financial interests

3.  (1)  For the purposes of paragraph 21 (3) (b) of the Act, particulars of the following changes of financial interest are required to be entered on the Register by a defined person:

(a)a transaction of $1,000 or more, being—

(i)the deposit of money into an account with a financial institution;

(ii)the purchase of fixed shares, withdrawable shares, permanent shares or other securities in a financial institution; or

(iii)the repayment of a loan from a financial institution;

(b)a change in the terms of a loan from a financial institution resulting in an interest rate being charged or a term being imposed that is different from the interest rate or term available in the ordinary course of business for a borrower from the financial institution for a loan of the corresponding type.

(2)  Subregulation (1) does not apply to a change of a defined person’s financial interest being—

(a)a deposit of money into an account with a financial institution; or

(b)repayment of a loan from a financial institution;

made by way of a deduction of part or the whole of the person’s salary.

note

1. Notified in the ACT Gazette on 14 July 1992.

©  Australian Capital Territory 1992