Suncorp Insurance and Finance Act Amendment Act 1986 (Qld)

479 (! uPenstannb ANNO TRICESIMO QUINTO ELIZABETHAE SECUNDAE REGINAE No. 28 of 1986 An Act to amend the Suncorp Insurance and Finance Act1985 in certain particulars and for related purposes [ASSENTED TO 8TH APRIL, 1986]

480 Suncorp Insurance and Finance Act Amendment Act 1986, No. 28 BE IT ENACTED by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows:- 1. Short title . This Act may be cited as the Suncorp Insurance and Finance Act Amendment Act 1986. 2. Citation. (1) In this Act the Suncorp Insurance and Finance Act1985 is referred to as the Principal Act. (2) The Principal Act as amended by this Act may be cited as the Suncorp Insurance and Finance Act 1985-1986. 3. Amendment of s. 2. Commencement . Section 2 of the Principal Act is 'amended by omitting from subsection (2) all words from and including "or such of them" to the end of the subsection and substituting the words "shall commence and shall be deemed to have commenced on 1 January 1986 and shall be given retrospective effect as necessary.". 4. Amendment of s. 4. Repeals and Savings . Section 4 of the Principal Act is amended by, in subsection (9), adding at the end thereof the following paragraphs:- "The Registrar of Titles, the Registrar of Dealings and all other persons charged with keeping registers with respect to dealings with property to be held in the name of the Corporation shall, upon request made by or on behalf of the Corporation, make in the registers all recordings necessary to record the change in the ownership of the property pursuant to this section. Notwithstanding any enactment of the contrary, a request made for the purposes of this subsection shall not be liable to stamp duty and no fees or charges shall be payable in respect thereof.". 5. Repeal of and new s. 6. The Principal Act is amended by repealing section 6 and substituting the following section:- "6. Appointed day. The date that is referred to in this Act as the "appointed day" is 1 January 1986.". 6. Repeal of and new s. 21. The Principal Act is amended by repealing section 21 and substituting the following section:- " 21. Continuance and authority of SGIO ( Queensland) Board. Until the Suncorp Insurance and Finance Board is first duly constituted as prescribed by section 22- (a) the members of the State Government Insurance Office (Queensland) Board shall continue to hold their respective offices thereon and that Board shall continue in being, with all the powers and authorities conferred and the functions and duties imposed on the Suncorp Insurance and Finance Board by or under this Act; and

Suncorp Insurance and Finance Act Amendment Act 1986, No. 28 481 (b) notwithstanding the provisions of section 20 (2), management of the affairs of the Corporation shall be with the State Government. Insurance Office (Queensland) Board, which Board may use and authorize the use of the common seal of the Corporation as if it were the Suncorp Insurance and Finance Board.". 7. Repeal of and new s. 22. The Principal Act is amended by repealing section 22 and substituting the following section:- "22. First constitution of Board. The Suncorp Insurance and Finance Board shall be first constituted upon the publication in the Gazette of notification of the first appointment of directors of the board, or where in the notification there is specified a later date on which the first appointment is to take effect, upon that later date." 8. Effect of transactions and acts since 1 January 1986. (1) In this section- "appointed day" means 1 January 1986; "Corporation" means Suncorp Insurance and Finance provided for by the Principal Act; "SGIO (Queensland)" means State Government Insurance Office (Queensland) constituted under the State Government Insurance Office (Queensland) Act 1960-1985; "SGIO (Queensland) Board" means the State Government Insurance Office (Queensland) Board constituted under the State Government Insurance Office (Queensland) Act 1960- 1985. (2) It is declared that- (a) the validity and effect of any contract, agreement, undertaking or security made or given or any act or thing done by or on behalf of the SGIO (Queensland) since the appointed day and before the passing of this Act is not prejudiced or affected by reason of its purporting to have been made, given or done in the name or on behalf of the Corporation; (b) every contract, agreement, undertaking, security or document made, given or issued by or on behalf of the SGIO (Queensland) Board since the appointed day and before the passing of this Act bearing the common seal of the Corporation shall be deemed to have been duly made, given or issued by or on behalf of the Corporation and shall take effect accordingly; (c) all acts and things done or liabilities incurred by or on behalf of SGIO (Queensland) since the appointed day and before the passing of this Act shall be deemed to have been done by or on behalf of or to have been incurred by the

482 Suncorp Insurance and Finance Act Amendment Act 1986, No. 28 Corporation and where , by reason that the Principal Act has and is to be deemed to have commenced on the appointed day, those acts and things should have been done by the Corporation they shall be taken to have been lawfully, properly and effectually done by or on behalf of SGIO (Queensland); (d) any action or proceeding commenced against SGIO (Queensland ) in respect of a claim that arose since the appointed day and before the passing of this Act may be continued against and in the name of the Corporation; (e) subject to the foregoing provisions of this subsection, all acts and things done since the appointed day and before the passing of this Act pursuant to or for the purposes of the State Government Insurance Office ( Queensland) Act 1960-1985 shall continue to take effect and shall be given effect as if that Act had not been repealed on the appointed day.