Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subject to subsection (2), this Act applies to a friendly society as if each reference to a statutory fund were instead a reference to an approved benefit fund.
Note: An approved benefit fund is a benefit fund for which there are approved benefit fund rules (see the definition in section 16B). Benefit fund rules are approved benefit fund rules if an approval under section 16L is in force in relation to the rules and the rules are in force under section 16N.
(2) Subsection (1) has effect subject to:
(a) the other provisions of this Subdivision; and
(b) the expression of a contrary intention in a particular provision; and
(c) the expression of a contrary intention in a particular provision of regulations for the purposes of section 16ZC.
(3) Other laws of the Commonwealth have effect in relation to friendly societies as if any reference in such a law to a statutory fund of a life company also included a reference to an approved benefit fund of a friendly society, subject to the expression of a contrary intention.