Financial Intermediaries Amendment Regulation (No. 1) 1997 (Qld)

Queensland Subordinate Legislation 1997 No. 308 Financial Intermediaries Act 1996 FINANCIAL INTERMEDIARIES AMENDMENT REGULATION (No. 1) 1997 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Regulation amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Insertion of new s 4A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 4A Additional purpose of a society—Act, s 65 . . . . . . . . . . . . . . . . . . . . 2

s1 2 s3 Financial Intermediaries Amendment (No. 1) No. 308, 1997 ˙ Short title 1. This regulation may be cited as the Financial Intermediaries Amendment Regulation (No. 1) 1997 . ˙ Regulation amended 2. This regulation amends the Financial Intermediaries Regulation 1996 . ˙ Insertion of new s 4A 3. After section 4— insert— ˙ ‘ Additional purpose of a society—Act, s 65 ‘ 4A.(1) For section 65(1)(d) of the Act, refinancing a loan, other than a residential loan, is an authorised purpose. 1 ‘ (2) However, subsection (1) applies for a society only if— (a) it is a society registered as a co-operative housing society under part 6 of the Act after the commencement of the part; and (b) the society has not raised any funds the repayment of which is guaranteed by the Treasurer.’. ENDNOTES 1. Made by the Governor in Council on 25 September 1997. 2. Notified in the gazette on 26 September 1997. 3. Laid before the Legislative Assembly on . . . 4. The administering agency is the Treasury Department. © State of Queensland 1997 1 Section 65(3) of the Act provides the application of a society’s funds is subject to the Act, the relevant standards and the society’s rules.