s 19
In forceContinuation of AFIC for certain purposes
Part 5Provisions relating to AFIC
Division 1AFIC to continue
19 Continuation of AFIC for certain purposes
(1)
This section applies despite:
(a)
the repeal of the AFIC Act by the Financial Sector Reform
(Queensland) Act 1999 of Queensland; and
(b)
the repeal of the Financial Institutions (NT) Act 1992.
(2)
AFIC and its board continue in existence, but only for the following purposes:
(a)
to give effect to matters relating to the transfer, under a law of the Commonwealth or of a State or another Territory or this Act, of any of its functions under the fiscal bodies legislation to APRA or ASIC;
(b)
to prepare reports and financial statements.
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