Commonwealth Consolidated Acts

FINANCIAL SECTOR REFORM (AMENDMENTS AND TRANSITIONAL PROVISIONS) ACT 1998 - SCHEDULE 17

Part 1 -- Amendments relating to changing "Commissioner" to "ASIC"

1   Subsection 3(2) (note 2)

Repeal the note, substitute:

Note 2:   For definitions of APRA , ASIC , approved deposit fund , excluded approved deposit fund , excluded fund , excluded superannuation fund , function , regulated superannuation fund and Regulator , see subsection 10(1) of the Supervision Act.

2   Subsection 3(2) (subparagraph (a)(ii) of the definition of death benefits )

Omit "the Commissioner", substitute "APRA".

3   Subsection 31(2)

Omit "Commissioner" (wherever occurring), substitute "Regulator".

4   Subsections 63(3A) and (3B)

Omit "Commissioner's" (wherever occurring), substitute "ASIC's".

Part 2 -- Changing "Commissioner" to "ASIC"

5   Amendment of the Act

The provisions of the Act specified in this Part are amended by omitting "The Commissioner" (wherever occurring) or "the Commissioner" (wherever occurring) and in both cases substituting "ASIC".

Note:   The headings to sections 64 and 64A are altered by omitting " Commissioner " and substituting " ASIC ".

6   Section 61

7   Subsection 62(2)

8   Paragraphs 63(1)(b) and (3)(a)

9   Paragraph 64(b)

10   Paragraph 64A(b)

11   Paragraph 65(1)(b)

Part 3 -- Amendment to take account of Schedule 3 to the Superannuation Legislation Amendment Act 1999

12   Subsection 63(3B)

Omit "the Commissioner's", substitute "ASIC's".