Commonwealth Consolidated Acts

FINANCIAL SECTOR REFORM (AMENDMENTS AND TRANSITIONAL PROVISIONS) ACT 1998 - SCHEDULE 7

1   Subsection 4(1)

Insert:

"Governor" means the Governor of the Reserve Bank.

2   Paragraph 8(2)(b)

Repeal the paragraph, substitute:

  (b)   the corporation is an authorised deposit - taking institution (as defined in section 5 of the Banking Act 1959 );

3   Paragraph 8(2)(l)

Omit "Treasurer" (wherever occurring), substitute "Governor".

4   Paragraph 9(9)(c)

Repeal the paragraph, substitute:

  (c)   if a corporation included in the Register ceases to exist, or ceases to be a corporation to which this Act applies--cause the corporation's name, address of registered office, and any other particulars of the corporation, to be removed from the Register.

5   Subsection 10(1)

Omit "Treasurer", substitute "Governor".

6   Subsection 10(2)

Omit "Treasurer", substitute "Governor".

7   Subsection 10(3)

Repeal the subsection.

8   Subsection 10(4)

Omit "Treasurer", substitute "Governor".

9   Subsection 10(5)

Omit "Treasurer", substitute "Governor".

10   Subsection 10(5)

Omit "to be furnished to the Reserve Bank and shall also cause a copy of the list or variation".

11   Subsection 10(5A)

Omit "Treasurer" (wherever occurring), substitute "Governor".

12   Subsection 10(5A)

Omit "must give to the Reserve Bank a copy of the list so prepared and".

13   Subsections 10(5B) and (5C)

Repeal the subsections.

14   Subsection 10(5D)

Omit "Treasurer", substitute "Governor".

15   Subsection 10(7)

Omit "Treasurer" (wherever occurring), substitute "Governor".

16   Subsection 10(8)

Repeal the subsection.

17   Subsection 11(12)

Repeal the subsection.

18   Subsection 11(14)

Omit "Treasurer", substitute "Governor".

19   Section 22A

Repeal the section, substitute:

22A   Delegation by Governor

  (1)   The Governor may, by signed instrument, delegate all or any of the powers listed in subsection (2) to:

  (a)   a member of the Reserve Bank Board of the Reserve Bank; or

  (b)   an officer of the Reserve Bank Service referred to in section 66 of the Reserve Bank Act 1959 .

  (2)   The powers that may be delegated are as follows:

  (a)   the Governor's powers under paragraph 8(2)(l);

  (b)   the Governor's powers under section 10, other than powers under subsection 10(1).