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FRIENDLY SOCIETIES (QUEENSLAND) BILL 1997

        Queensland




 FRIENDLY SOCIETIES
(QUEENSLAND) BILL 1997

 


 

 

Queensland FRIENDLY SOCIETIES (QUEENSLAND) BILL 1997 TABLE OF PROVISIONS Section Page PART 1--PRELIMINARY 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 3 Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 4 State etc. bound . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 PART 2--FRIENDLY SOCIETIES (QUEENSLAND) CODE AND FRIENDLY SOCIETIES (QUEENSLAND) REGULATIONS 5 Application in Queensland of the Friendly Societies Code . . . . . . . . . . . . . 5 6 Application of regulations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Interpretation of some expressions in the Code and Regulations . . . . . . . . 6 8 Prescription of law for s 19(4) of Code . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 PART 3--CONFERRAL OF FUNCTIONS AND POWERS 9 Conferral of functions and powers on AFIC . . . . . . . . . . . . . . . . . . . . . . . . . . 7 10 Conferral of functions and powers on Appeals Tribunal . . . . . . . . . . . . . . . . 7 PART 4--STATE SUPERVISORY AUTHORITY 11 QOFS to be SSA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 PART 5--IMPOSITION OF FEES 12 Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 13 Fees and penalties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 PART 6--MISCELLANEOUS 14 Decision by friendly society to stop carrying on business of pharmacist . . 8 15 Regulation-making power . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

 


 

2 Friendly Societies (Queensland) PART 7--SAVINGS, TRANSITIONAL, AMENDMENT 16 Meaning of words and expressions used in Friendly Societies (Queensland) Code and this part . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 17 General savings provision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 18 Society started to have been formed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 19 Disclosure of interests by directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 20 Operation of dispensaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 21 Management contracts about pharmacies . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 22 Copies of management contracts to be given to SSA . . . . . . . . . . . . . . . . . 13 23 Investor information memorandums . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 24 Transfers of engagements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 25 Directed transfers of engagements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 26 Mergers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 27 Exemption from stamp duty in certain cases . . . . . . . . . . . . . . . . . . . . . . . . . 15 28 Administrators and appointed directors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 29 Suspension of operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 30 Code not to apply to continuing societies being wound-up . . . . . . . . . . . . . 16 31 Investigations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 32 Warrants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 33 Friendly Societies Act 1991 continues to apply for certain land vested in continuing society . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 34 Members of continuing societies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 35 Transitional regulations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 36 Amendment of Acts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 37 Repeal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 SCHEDULE . . . . . . . . . . . . . . . . . . . . . . . . . 20 CONSEQUENTIAL AND OTHER MINOR AMENDMENTS ACTS INTERPRETATION ACT 1954 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 CRIMINAL CODE ACT 1899 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 FAMILY SECURITY FRIENDLY SOCIETY (DISTRIBUTION OF MONEYS) ACT 1991 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 FUNERAL BENEFIT BUSINESS ACT 1982 . . . . . . . . . . . . . . . . . . . . . . . . 21 QUEENSLAND OFFICE OF FINANCIAL SUPERVISION ACT 1992 . . . 21

 


 

1997 A BILL FOR An Act to provide for a uniform scheme for friendly societies and for other purposes

 


 

s1 4 s3 Friendly Societies (Queensland) The Parliament of Queensland enacts-- 1 PART 1--PRELIMINARY 2 title 3 Short 1. This Act may be cited as the Friendly Societies (Queensland) Act 4 1997. 5 6 Commencement 2. This Act commences on a day to be fixed by proclamation. 7 8 Definitions 3. In this Act-- 9 "AFIC" means the Australian Financial Institutions Commission. 10 "Appeals Tribunal" means the Australian Financial Institutions Appeals 11 Tribunal established under the Australian Financial Institutions 12 Commission Act 1992. 13 "financial institutions agreement" see AFIC Code, section 3.1 14 "friendly societies legislation of Queensland" means-- 15 (a) this Act and regulations under this Act; and 16 (b) the Friendly Societies (Queensland) Code; and 17 (c) the Friendly Societies (Queensland) Regulations; and 18 (d) the AFIC (Queensland) Code and the AFIC (Queensland) 19 Regulations and the Financial Institutions (Queensland) Code and 20 the Financial Institutions (Queensland) Regulations as applying to 21 1 Under the AFIC Code sections 3 and 7 the financial institutions agreement is that agreement made on 22 November 1991 between the States and Territories and includes the agreement as amended or affected by another agreement.

 


 

s4 5 s5 Friendly Societies (Queensland) the code and regulations mentioned in paragraphs (b) and (c). 1 "Friendly Societies (Queensland) Code" means the provisions applying 2 because of section 5.2 3 "Friendly Societies (Queensland) Regulations" means the provisions 4 applying because of section 6.3 5 "Friendly Societies (Victoria) Act" means the Friendly Societies 6 (Victoria) Act 1996 of Victoria. 7 "Ministerial Council" means the Ministerial Council established under the 8 financial institutions agreement. 9 etc. bound 10 State 4.(1) The friendly societies legislation of Queensland binds the State and, 11 as far as the legislative authority of the Parliament permits, the 12 Commonwealth and the other States. 13 (2) Nothing in this Act permits the Commonwealth or a State to be 14 prosecuted for an offence. 15 PART 2--FRIENDLY SOCIETIES (QUEENSLAND) 16 CODE AND FRIENDLY SOCIETIES (QUEENSLAND) 17 REGULATIONS 18 in Queensland of the Friendly Societies Code 19 Application 5. The Friendly Societies Code set out in the Friendly Societies (Victoria) 20 Act, schedule 1, as in force for the time being-- 21 (a) applies as a law of Queensland; and 22 (b) as so applying may be referred to as the Friendly Societies 23 (Queensland) Code. 24 2 Section 5 (Application in Queensland of Friendly Societies Code) 3 Section 6 (Application of regulations)

 


 

s6 6 s8 Friendly Societies (Queensland) of regulations 1 Application 6. The regulations in force for the time being under the Friendly Societies 2 (Victoria) Act, part 4-- 3 (a) apply as regulations in force for the purposes of the Friendly 4 Societies (Queensland) Code; and 5 (b) as so applying may be referred to as the Friendly Societies 6 (Queensland) Regulations. 7 of some expressions in the Code and Regulations 8 Interpretation 7. In the Friendly Societies (Queensland) Code and the Friendly Societies 9 (Queensland) Regulations-- 10 "continuing society" means a friendly society constituted under the 11 Friendly Societies Act 1991 and existing immediately before the 12 commencement of this section. 13 "Corporations Law" has the meaning given by the Corporations 14 (Queensland) Act 1990, part 3. 15 "Corporations Regulations" has the meaning given by the Corporations 16 (Queensland) Act 1990, part 3. 17 "Legislature of this State" means the Legislative Assembly of 18 Queensland. 19 "pharmacy law of this State" means the Pharmacy Act 1976. 20 "Supreme Court" means the Supreme Court of Queensland. 21 "the Code" or "this Code" means the Friendly Societies (Queensland) 22 Code. 23 "the previous law" means the Friendly Societies Act 1991. 24 "the State" or "this State" means Queensland. 25 of law for s 19(4) of Code 26 Prescription 8. The Corporations (Queensland) Act 1990, and the applicable 27

 


 

s9 7 s 11 Friendly Societies (Queensland) provisions of Queensland under that Act, are prescribed for the Friendly 1 Societies (Queensland) Code, section 19(4).4 2 ART 3--CONFERRAL OF FUNCTIONS AND 3 P POWERS 4 of functions and powers on AFIC 5 Conferral 9. AFIC has the functions and powers conferred or expressed to be 6 conferred on it under the friendly societies legislation of Queensland. 7 of functions and powers on Appeals Tribunal 8 Conferral 10. The Appeals Tribunal has the functions and powers conferred or 9 expressed to be conferred on it under the friendly societies legislation of 10 Queensland. 11 PART 4--STATE SUPERVISORY AUTHORITY 12 OFS to be SSA 13 Q 11. The Queensland Office of Financial Supervision is the State 14 supervisory authority for Queensland. 15 4 Friendly Societies (Queensland) Code, section 19 (Corporations Law applying under its own force)

 


 

s 12 8 s 14 Friendly Societies (Queensland) PART 5--IMPOSITION OF FEES 1 2 Fees 12. This section imposes the fees prescribed by the Friendly Societies 3 (Queensland) Regulations, or by the AFIC (Queensland) Regulations for 4 matters referred to in the friendly societies legislation of Queensland. 5 and penalties 6 Fees 13.(1) All fees and other amounts that, under the friendly societies 7 legislation of Queensland, are authorised or directed to be imposed on a 8 person and are not, under the legislation or an Act, fees, levies or other 9 amounts payable to, authorised to be kept by, or required to be dealt with in 10 a specified way by, a specified person must be paid to the consolidated 11 fund. 12 (2)The Acts Interpretation Act 1954, section 43, applies for the 13 appropriation of penalties that, under the friendly societies legislation of 14 Queensland, are authorised or directed to be imposed on a person. 15 ART 6--MISCELLANEOUS 16 P by friendly society to stop carrying on business of 17 Decision pharmacist 18 14.(1) A friendly society may give effect to a decision of the society to 19 stop carrying on the business of a pharmacist (a "pharmacy decision") 20 only if the decision is made by means of a special resolution under the 21 Friendly Societies (Queensland) Code, section 307.5 22 (2) A friendly society that is to make a pharmacy decision must send to 23 each of its members a statement approved by the SSA specifying-- 24 5 Friendly Societies (Queensland) Code, section 307 (Special resolutions of societies)

 


 

s 14 9 s 14 Friendly Societies (Queensland) (a) any interest that a director of the friendly society has in the 1 proposed decision or in another entity affected by the proposed 2 decision; and 3 (b) any compensation or other consideration to be paid, or any other 4 incentive proposed to be given, to any officer or member of the 5 friendly society in relation to the proposed decision; and 6 (c) the reasons for the proposed decision; and 7 (d) any other matter specified by the SSA. 8 (3) The statement must be sent to the members so that it will, in the 9 ordinary course of post, reach each member not later than 21 days before 10 the day on or before which the ballot papers must be returned under the 11 Friendly Societies (Queensland) Regulations by members voting in the 12 postal ballot. 13 (4) The SSA may exempt a friendly society from having to comply with 14 subsection (2). 15 (5) For making a special resolution under the Friendly Societies 16 (Queensland) Code, section 307, for this section, that section is taken to 17 require the resolution to be voted on by a postal ballot conducted in 18 accordance with the regulations made for the purpose of subsection (1)(b) 19 of that section. 20 (6) In this section-- 21 "director" see the Friendly Societies (Queensland) Code, section 3.6 22 "friendly society" means a society within the meaning of the Friendly 23 Societies (Queensland) Code. 24 "member" of a friendly society, means a person who is a member of the 25 society under the Friendly Societies (Queensland) Code. 26 6 Friendly Societies (Queensland) Code, section 3-- "director" has the meaning given by section 5.

 


 

s 15 10 s 17 Friendly Societies (Queensland) "officer" see the Friendly Societies (Queensland) Code, section 3.7 1 "SSA" see the Friendly Societies (Queensland) Code, section 3.8 2 power 3 Regulation-making 15. The Governor in Council may make regulations under this Act. 4 ART 7--SAVINGS, TRANSITIONAL, AMENDMENT 5 P AND REPEAL 6 of words and expressions used in Friendly Societies 7 Meaning (Queensland) Code and this part 8 16. Words and expressions used in the Friendly Societies (Queensland) 9 Code and this part have the same respective meanings in this part as they 10 have in that code. 11 savings provision 12 General 17.(1) All persons, things and circumstances appointed or created under 13 the Friendly Societies Act 1991, or existing or continuing under the Act, 14 immediately before the commencement of this section continue, under and 15 subject to the friendly societies legislation of Queensland, to have the same 16 status, operation and effect as they would have had if this Act had not been 17 enacted. 18 (2) Subsection (1) is subject to any contrary intention appearing in this 19 Act or the Friendly Societies (Queensland) Code. 20 7 Friendly societies (Queensland) Code, section 3-- "officer" has the meaning given by section 9. 8 Under section 11 of this Act the Queensland Office of Financial Supervision is the SSA.

 


 

s 18 11 s 18 Friendly Societies (Queensland) started to have been formed 1 Society 18.(1) This section applies if, before the commencement of this section, 2 the formation of a body as a friendly society started under the Friendly 3 Societies Act 1991, section 3.1, but the body has not been registered under 4 the Act as a friendly society. 5 (2) The formation of the body as a friendly society under the Act is taken 6 to have started if a meeting has been called to form the friendly society. 7 (3) Despite the repeal of the Act, section 3.1 continues to apply to the 8 formation of the body as a friendly society but application may be made 9 under the Friendly Societies (Queensland) Code, section 60, for the body to 10 be registered under the code as a society. 11 (4) For the application-- 12 (a) the reference in the Friendly Societies (Queensland) Code, 13 section 60(2)(b)(i), to section 599 is taken to be a reference to the 14 Friendly Societies Act 1991, section 3.1(1) and (2); and 15 (b) the reference in the Friendly Societies (Queensland) Code, 16 section 60(2)(b)(v), to 25 or more adults is taken to be a reference 17 to at least the appropriate number, under the Friendly Societies 18 Act 1991, section 3.1, of adults. 19 (5) The society may be registered under the Friendly Societies 20 (Queensland) Code if its rules are not contrary to the Friendly Societies Act 21 1991 even though they are contrary to the friendly societies legislation. 22 (6) On registration, the rules have effect subject to the friendly societies 23 legislation. 24 (7) If on registration of the society its rules are contrary to the friendly 25 societies legislation, the society must ensure the rules are amended to 26 comply with the legislation within 1 year of registration. 27 Maximum penalty--133 penalty units. 28 (8) Subsection (7) does not limit subsection (6). 29 9 Friendly Societies (Queensland) Code, section 59 (Formation of societies)

 


 

s 19 12 s 21 Friendly Societies (Queensland) of interests by directors 1 Disclosure 19.(1) Subsection (2) applies if a director of a continuing society 10 has 2 given a general written notice under the Friendly Societies Act 1991, 3 section 4.7(5), to all the other directors of the society. 4 (2) The notice is taken to have been given by the director under the 5 Friendly Societies (Queensland) Code, section 292(5). 6 (3) Subsection (4) applies if a director of a continuing society has made a 7 declaration under the Friendly Societies Act 1991, section 4.7(6) and (7), at 8 a meeting of the society's board 9 (4) The declaration is taken to have been made under the Friendly 10 Societies (Queensland) Code, section 292(6) and (7). 11 of dispensaries 12 Operation 20.(1) This section applies if, immediately before the commencement of 13 this section, under the Friendly Societies Act 1991, section 2.2(3), a 14 continuing society is authorised to sell or supply medical requisites and 15 dispense or sell medicines to members of the public generally. 16 (2) The society's rules are taken to include, as an object of the society, the 17 following-- 18 · to sell or supply medical requisites and therapeutic goods and 19 dispense or sell medicines to members of the public. 20 contracts about pharmacies 21 Management 21.(1) This section applies to a management contract entered into under 22 an approval mentioned in the Friendly Societies Act 1991, section 4.15(14), 23 by a continuing society for the management of a pharmacy. 24 10 Section 7-- "continuing society" means a friendly society constituted under the Friendly Societies Act 1991 and existing immediately before the commencement of this section.

 


 

s 22 13 s 23 Friendly Societies (Queensland) (2) Subject to the Friendly Societies (Queensland) Code, section 297(5)11 1 and the management contract's terms, the contract continues in force. 2 of management contracts to be given to SSA 3 Copies 22.(1) This section applies to a management contract entered into by a 4 continuing society before the commencement of this section and that is in 5 force immediately before the commencement. 6 (2) The continuing society must give the SSA a copy of the contract 7 within 1 month after the commencement of this section. 8 Maximum penalty for subsection (2)--66 penalty units. 9 information memorandums 10 Investor 23.(1) This section applies to an investor information memorandum for a 11 continuing society that is lawfully being used for investment in the society 12 immediately before the commencement of this section. 13 (2) While the investor information memorandum continues in force, the 14 Friendly Societies Act 1991, part 6, divisions 1 and 2 continue to apply in 15 relation to the memorandum and to a form of application for investment in 16 a friendly society to which the memorandum relates, and the Friendly 17 Societies (Queensland) Code, part 4B, divisions 1 to 3, do not apply in 18 relation to an investment to which the memorandum relates. 19 (3) For this section an investor information memorandum continues in 20 force until whichever of the following first happens-- 21 (a) the anniversary of the date of the memorandum's issue under the 22 Friendly Societies Act 1991, section 6.3(3); 23 (b) a disclosure document relating to the investment to which the 24 memorandum relates is lodged under the Friendly Societies 25 (Queensland) Code with the SSA. 26 (4) This section has effect despite the repeal of the Friendly Societies Act 27 1991. 28 (5) In this section-- 29 11 Friendly Societies (Queensland) Code, section 297 (Management contracts)

 


 

s 24 14 s 24 Friendly Societies (Queensland) "investor information memorandum", means an investor information 1 memorandum under the Friendly Societies Act 1991 approved under 2 section 6.2(1)(a) of that Act or lodged under section 6.2(1)(b) of that 3 Act. 4 of engagements 5 Transfers 24.(1) Subsection (2) applies if-- 6 (a) a continuing society has by special resolution under the Friendly 7 Societies Act 1991, section 7.1-- 8 (i) decided to transfer the society's engagements, or the 9 engagements relating to a fund of the society, to another 10 continuing society; or 11 (ii) undertaken to fulfil the engagements, or the engagements 12 relating to a fund, of another continuing society; and 13 (b) the resolution has not been registered under the Act before the 14 commencement of this section. 15 (2) For the Friendly Societies(Queensland) Code, section 364(2), the 16 special resolution is taken to be a special resolution approving a proposed 17 transfer of engagements. 18 (3) Subsection (4) applies if, before the commencement of this section, a 19 continuing society, by ordinary resolution, or by ordinary resolution of the 20 society's board, under the Friendly Societies Act 1991, section 7.1, 21 undertook to fulfil the engagements of another continuing society, or the 22 engagements relating to a fund of another continuing society. 23 (4) The resolution is taken to be an approval, with the consent of the 24 SSA, of a proposed transfer of engagements by the continuing society's 25 board under the Friendly Societies(Queensland) Code, section 364(2). 26 (5) Compliance, before the commencement of this section, by a 27 continuing society with the Friendly Societies Act 1991, section 7.1(3) and 28 (4) about a transfer of engagements is taken to be compliance by the society 29 with the Friendly Societies (Queensland) Code, section 364(3) and(4). 30 (6) An exemption for a continuing society given under the Friendly 31 Societies Act 1991, section 7.1(3) is taken to have been given under the 32 Friendly Societies (Queensland) Code, section 364(5). 33

 


 

s 25 15 s 27 Friendly Societies (Queensland) transfers of engagements 1 Directed 25.(1) This section applies if a direction under the Friendly Societies Act 2 1991, section 7.2, for a continuing society is in force immediately before the 3 commencement of this section. 4 (2) The direction is taken to be a direction to the continuing society given 5 by the SSA under the Friendly Societies (Queensland) Code, section 367. 6 7 Mergers 26.(1) Subsection (2) applies if a continuing society has, by special 8 resolution under the Friendly Societies Act 1991, section 7.4, decided to 9 amalgamate with another continuing society and the resolution has not been 10 registered under the Act before the commencement of this section. 11 (2) For the Friendly Societies (Queensland) Code, section 364(2), the 12 special resolution is taken to be a special resolution approving a proposed 13 merger with the other continuing society. 14 (3) Compliance by a continuing society with the Friendly Societies Act 15 1991, section 7.4(2) and (3) before the commencement of this section is, 16 for an amalgamation, taken to be compliance with the Friendly Societies 17 (Queensland) Code, section 364(3) and (4). 18 (4) An exemption for a continuing society given under the Friendly 19 Societies Act 1991, section 7.4(2) is taken to have been given under the 20 Friendly Societies (Queensland) Code, section 364(5). 21 from stamp duty in certain cases 22 Exemption 27.(1) This section applies if, because of section 24, 25 or 26, and 23 because of the Friendly Societies (Queensland) Code, a transfer of 24 engagements takes effect, or a merged society is registered, under the code. 25 (2) The vesting of assets under the Friendly Societies (Queensland) 26 Code, section 374 or 375, because of the transfer of engagements or the 27 merger, and any instrument executed to give effect to the section, do not 28 attract duty under the Stamp Act 1894. 29

 


 

s 28 16 s 30 Friendly Societies (Queensland) and appointed directors. 1 Administrators 28.(1) An administrator of a continuing society appointed under the 2 Friendly Societies Act 1991, section 9.1, is taken to have been appointed by 3 the SSA under the Friendly Societies (Queensland) Code, section 46. 4 (2) A director of a continuing society appointed under the Friendly 5 Societies Act 1991, section 9.4(2)(b) is taken to have been appointed under 6 the Friendly Societies (Queensland) Code, section 46(11)(d). 7 of operations 8 Suspension 29. A direction given to a continuing society under the Friendly Societies 9 Act 1991, section 9.7 that is in force immediately before the commencement 10 of this section is taken to be a direction given to the society by the SSA 11 under the Friendly Societies (Queensland) Code, section 45. 12 not to apply to continuing societies being wound-up 13 Code 30.(1) This section applies if, under the Friendly Societies Act 1991, the 14 winding-up of a continuing society has started but not finished before the 15 commencement of this section. 16 (2) The provisions of the Friendly Societies (Queensland) Code about the 17 winding-up of societies do not apply to the continuing society. 18 (3) Also, section 490 of the code about the winding-up of certain 19 continuing societies does not apply to the continuing society. 20 (4) The continuing society is to be wound-up in the same way as if the 21 sections 5 and 6 of this Act had not been enacted. 22 (5) For the winding-up, the Friendly Societies Act 1991 continues to 23 apply to the continuing society despite the repeal of the Act. 24 (6) For subsection (1), if a continuing society is being wound-up under 25 the Corporations Law, part 5.6, division 8, as applied by the Friendly 26 Societies Act 1991, the winding-up is taken to have started on the day a letter 27 was posted to the society under the Corporations Law, section 572(1). 28 (7) Subsection (1) does not limit the operation of the Acts Interpretation 29 Act 1954. 30 (8) This section applies despite anything in the Friendly Societies 31

 


 

s 31 17 s 32 Friendly Societies (Queensland) (Queensland) Code. 1 (9) In this section-- 2 "winding-up" includes dissolution. 3 4 Investigations 31.(1) This section applies if, immediately before the commencement of 5 this section, an inquiry is being conducted into the affairs of a continuing 6 society under the Friendly Societies Act 1991, part 8, division 3. 7 (2) The inquiry may continue as an investigation under the Friendly 8 Societies (Queensland) Code, part 10. 9 (3) For the purpose of continuing the inquiry, the SSA may appoint an 10 investigator under the Friendly Societies (Queensland) Code, section 411. 11 (4) A document or other information properly obtained by the person 12 conducting the inquiry before the commencement of this section may be 13 had regard to by the person continuing the inquiry 14 15 Warrants 32.(1) This section applies if-- 16 (a) a warrant is issued under the Friendly Societies Act 1991, 17 section 8.30, 8.31 or 8.32; and 18 (b) the warrant is effective immediately before the commencement of 19 this section; and 20 (c) the person to whom the warrant is issued is, on the 21 commencement of this section, an inspector. 22 (2) The warrant is taken to have been issued to the inspector under the 23 corresponding provision of the Friendly Societies (Queensland) Code and 24 the code applies accordingly. 25 (3) In this section-- 26 "corresponding provision" of the Friendly Societies (Queensland) Code 27 means-- 28 (a) for the Friendly Societies Act 1991, section 8.30, section 38 of the 29

 


 

s 33 18 s 35 Friendly Societies (Queensland) code; and 1 (b) for the Friendly Societies Act 1991, section 8.31, section 39 of the 2 code; and 3 (c) for the Friendly Societies Act 1991, section 8.32, section 40 of the 4 code. 5 Societies Act 1991 continues to apply for certain land vested 6 Friendly in continuing society 7 33.(1) This section applies to an interest in land vested in a continuing 8 society under the Friendly Societies Act 1991, section 13.4. 9 (2) Despite the repeal of that Act-- 10 (a) that section continues to apply for recording the vesting; and 11 (b) subsection (4) of that section continues to apply to the vesting and 12 to any instruments executed as a consequence of the section to 13 give the section effect. 14 of continuing societies 15 Members 34.(1) Until the end of the first annual general meeting of a continuing 16 society held after the commencement of this section, subsection (2) applies 17 for deciding who the members of the society are. 18 (2) The members are the individuals admitted to membership of the 19 continuing society under the society's rules. 20 (3) From the end of the meeting, the Friendly Societies (Queensland) 21 Code applies for deciding who the members of the continuing society are. 22 regulations 23 Transitional 35.(1) A regulation may provide for matters of a savings or transitional 24 nature consequent on the enactment of this Act and for which this Act does 25 not make provision or sufficient provision. 26 (2) Subject to subsection (3), a regulation under this section expires 1 27 year after it is made unless it is earlier repealed. 28 (3) This section expires 2 years after it commences. 29

 


 

s 36 19 s 37 Friendly Societies (Queensland) of Acts 1 Amendment 36. The schedule amends the Acts mentioned in it. 2 3 Repeal 37. The Friendly Societies Act 1991 is repealed. 4

 


 

20 Friendly Societies (Queensland) CHEDULE 1 ¡S ONSEQUENTIAL AND OTHER MINOR 2 C AMENDMENTS 3 section 36 4 CTS INTERPRETATION ACT 1954 5 ´A 1. Section 36-- 6 insert-- 7 ` "Friendly Societies (Queensland) Code" means the provisions applying 8 because of the Friendly Societies (Queensland) Act 1997, section 5, 9 and includes the Friendly Societies (Queensland) Regulations. 10 "Friendly Societies (Queensland) Regulations" means the provisions 11 applying because of the Friendly Societies (Queensland) Act 1997, 12 section 6.'. 13 RIMINAL CODE ACT 1899 14 ´C 1. Schedule 1, section 1, definitions "clerk" and "servant", `, and also 15 includes' to `or branch of a friendly society'-- 16 omit. 17 AMILY SECURITY FRIENDLY SOCIETY 18 ´F (DISTRIBUTION OF MONEYS) ACT 1991 19 1. After section 27-- 20 insert-- 21

 


 

21 Friendly Societies (Queensland) `Continued application of repealed Friendly Societies Act 1991 1 `28.(1) This section applies despite the repeal of the Friendly Societies 2 Act 1991. 3 `(2) To the extent that it is necessary or convenient, the Friendly Societies 4 Act 1991 and the regulations continue to apply for the purposes of this Act 5 including the winding-up and dissolution of the Society. 6 `Society not a continuing society 7 `29. The Society is not a continuing society under the Friendly Societies 8 (Queensland) Act 1997 or the Friendly Societies (Queensland) Code.'. 9 UNERAL BENEFIT BUSINESS ACT 1982 10 ´F 1. Section 55(a)-- 11 omit, insert-- 12 `(a) a society under the Friendly Societies (Queensland) Code; or'. 13 QUEENSLAND OFFICE OF FINANCIAL 14 ´ SUPERVISION ACT 1992 15 1. Section 3, definitions "Financial Institutions (Queensland) Code" 16 and "friendly society"-- 17 omit. 18 2. Section 3-- 19 insert-- 20 ` "Financial Institutions (Queensland) Code" means the provisions 21 applying because of the Financial Institutions (Queensland) Act 1992, 22 section 4, and includes the Financial Institutions (Queensland) 23 Regulations. 24

 


 

22 Friendly Societies (Queensland) "Financial Institutions (Queensland) Regulations" means the 1 provisions applying because of the Financial Institutions 2 (Queensland) Act 1992, section 5. 3 "friendly association" means an association within the meaning of the 4 Friendly Societies (Queensland) Code. 5 "friendly institution" means a friendly association or friendly society. 6 "Friendly Societies (Queensland) Code" means the provisions applying 7 because of the Friendly Societies (Queensland) Act 1997, section 5, 8 and includes the Friendly Societies (Queensland) Regulations. 9 "Friendly Societies (Queensland) Regulations" means the provisions 10 applying because of the Friendly Societies (Queensland) Act 1997, 11 section 6. 12 "friendly society" means a society within the meaning of the Friendly 13 Societies (Queensland) Code.'. 14 3. Section 4, heading, at the end-- 15 insert-- 16 `or Friendly Societies (Queensland) Code'. 17 4. Section 4, after `Code have'-- 18 omit, insert-- 19 `Code or Friendly Societies (Queensland) Code have'. 20 5. Section 6, after `legislation'-- 21 insert-- 22 `, the friendly societies legislation'. 23 6. Section 7(2), after `legislation'-- 24 insert-- 25 `, the friendly societies legislation'. 26

 


 

23 Friendly Societies (Queensland) 7. Section 9, after `legislation'-- 1 insert-- 2 `, the friendly societies legislation'. 3 8. Section 10, after `legislation'-- 4 insert-- 5 `or friendly societies legislation'. 6 9. Section 26, `friendly society'-- 7 omit, insert-- 8 `friendly institution'. 9 10. Section 33(f), `friendly society'-- 10 omit, insert-- 11 `friendly institution'. 12 11. Section 38(2), `friendly society'-- 13 omit, insert-- 14 `friendly institution'. 15 12. Section 53(2)(b), `friendly society'-- 16 omit, insert-- 17 `friendly institution'. 18 13. Section 53(4), after `legislation,'-- 19 insert-- 20 `the friendly societies legislation,'. 21

 


 

24 Friendly Societies (Queensland) 14. Section 53(4)(b), `friendly society'-- 1 omit, insert-- 2 `friendly institution'. 3 15. Section 53(5), after `legislation,'-- 4 insert-- 5 `the friendly societies legislation,'. 6 16. Section 53(5)(b), `friendly society'-- 7 omit, insert-- 8 `friendly institution'. 9 17. Section 58(1), `Act or the financial institutions legislation'-- 10 omit, insert-- 11 `Act, the financial institutions legislation or the friendly societies 12 legislation'. 13 18. Section 58(2)-- 14 insert-- 15 `(g) a supervision levy decided under the Friendly Societies 16 (Queensland) Code, part 2, division 2, subdivision 7.'. 17 19. Section 59(1), after `legislation'-- 18 insert-- 19 `or the friendly societies legislation'. 20 20. Section 59(1)(c), after `an'-- 21 insert-- 22 `appropriately qualified'. 23

 


 

25 Friendly Societies (Queensland) 21. Section 59(2)-- 1 omit, insert-- 2 `(2) Also, QOFS may, by resolution of the board, delegate its powers 3 under the Financial Intermediaries Act 1996 to a director, the chief 4 executive officer or an appropriately qualified employee of QOFS. 5 `(2A) The powers under the Financial Institutions (Queensland) Code, 6 section 95, the Friendly societies (Queensland) Code, section 51, or the 7 Financial Intermediaries Act 1996, section 62, may not be delegated.'. 8 22. Section 59-- 9 insert-- 10 `(5) In subsections (1) and (2)-- 11 "appropriately qualified" includes having the qualifications, experience or 12 standing appropriate to exercise the power. 13 14 Example of `standing'-- 15 The seniority of an employee's position with QOFS.'. 23. Section 60, after `legislation'-- 16 insert-- 17 `or the friendly societies legislation'. 18 24. Section 61(2)(a)(ii)-- 19 omit, insert-- 20 `(ii) the Friendly Societies (Queensland) Code, section 51;12 21 and'. 22 25. Section 62(b)-- 23 omit, insert-- 24 12 Section 51 (Supervision levy)

 


 

26 Friendly Societies (Queensland) `(b) for its functions under the friendly societies legislation--industry 1 bodies and friendly societies; and'. 2 26. Section 62A, after `legislation'-- 3 insert-- 4 `, the friendly societies legislation'. 5 27. Section 67-- 6 insert-- 7 `(2) In an Act or document, a reference to the Friendly Societies Act 1991 8 may, if the context permits, be taken to be a reference to the Friendly 9 Societies (Queensland) Code.'. 10 11 © State of Queensland 1997

 


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