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This is a Bill, not an Act. For current law, see the Acts databases.


BUILDING SOCIETIES AMENDMENT BILL 2001

                          Western Australia


       Building Societies Amendment Bill 2001

                             CONTENTS


          Part 1 -- Preliminary
1.        Short title                                  2
2.        Commencement                                 2
          Part 2 -- Amendments to the Building
               Societies Act 1976
3.        The Act amended by this Part                 3
4.        Long title amended                           3
5.        Section 1 amended and transitional           3
6.        Section 5 amended                            3
7.        Section 5A replaced by sections 5A and 5B    4
8.        Section 13 amended                           6
9.        Section 13A amended                          6
10 .      Section 14 amended                           6
11 .      Section 15 amended                           7
12 .      Section 23 amended and transitional          7
13 .      Sections 26 and 27 replaced                  7
14 .      Section 29 amended                           8
15 .      Section 29B amended                          8
16 .      Section 29C amended                          8
17 .      Section 31 amended                           9
18 .      Section 32 amended                           9
19 .      Section 33 amended                          10
20 .      Section 38 amended                          10
21 .      Section 39 amended                          10
22 .      Section 41 amended                          10
23 .      Section 43 replaced                         11
24 .      Section 45 amended                          11
25 .      Section 48 amended                          12

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                                5--1
Building Societies Amendment Bill 2001



Contents



   26 .    Section 50 amended                                     12
   27 .    Section 51 amended                                     13
   28 .    Section 53 amended                                     13
   29 .    Section 54 amended                                     13
   30 .    Section 55 amended                                     14
   31 .    Section 57 amended                                     14
   32 .    Section 59 amended                                     14
   33 .    Section 61 amended                                     15
   34 .    Section 65 amended                                     16
   35 .    Section 66 amended                                     17
   36 .    Section 71 amended                                     17
   37 .    Section 75 amended                                     17
   38 .    Section 76 amended                                     18
   39 .    Section 78 amended                                     19
   40 .    Section 87 amended                                     19
   41 .    Section 88 amended                                     19
   42 .    Section 90 amended                                     20
   43 .    Various references to institution changed to society   20
   44 .    Various provisions repealed                            21
   45 .    Various references to "moneys" amended                 21
           Part 3 -- Amendments to other Acts
   46 .    Companies (Co-operative) Act 1943 amended              22
   47 .    Constitution Acts Amendment Act 1899 amended           22
   48 .    Equal Opportunity Act 1984 amended                     22
   49 .    Housing Act 1980 amended                               23
   50 .    Real Estate and Business Agents Act 1978 amended       23
   51 .    Amendments consequential on changing the name of
           the Act                                                24




page ii
                           Western Australia


                      LEGISLATIVE COUNCIL



      Building Societies Amendment Bill 2001


                               A Bill for


An Act to amend the Building Societies Act 1976 and, in consequence,
various other Acts, and for related purposes.



The Parliament of Western Australia enacts as follows:




                                                              page 1
    Building Societies Amendment Bill 2001
    Part 1          Preliminary

    s. 1



                           Part 1 -- Preliminary
    1.       Short title
             This Act may be cited as the Building Societies Amendment
             Act 2001.

5   2.       Commencement
             This Act comes into operation on the day on which it receives
             the Royal Assent.




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                                        Building Societies Amendment Bill 2001
                     Amendments to the Building Societies Act 1976      Part 2

                                                                              s. 3



            Part 2 -- Amendments to the Building Societies
                           Act 1976
     3.         The Act amended by this Part
                The amendments in this Part are to the Building Societies
5               Act 1976*.
                [* Reprinted as approved 14 April 1986.
                   For subsequent amendments see 2000 Index to Legislation of
                   Western Australia, Table 1, p. 45-6.]

     4.         Long title amended
10              The long title is amended by deleting "building" and inserting
                instead --
                "   housing ".

     5.         Section 1 amended and transitional
          (1)   Section 1 is amended by deleting "Building" and inserting
15              instead --
                "   Housing   ".
          (2)   Unless the contrary intention appears, a reference in subsidiary
                legislation or any other document to the "Building Societies
                Act 1976" is taken to be a reference to the "Housing Societies
20              Act 1976".

     6.         Section 5 amended
          (1)   Section 5(1) is amended by deleting the definitions of
                "continuing credit arrangement", "non-withdrawable",
                "permanent society", "prime net worth", "provide financial
25              accommodation", "society", "Starr Bowkett society",
                "subordinated loan", "terminating society" and "withdrawable".




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     Part 2          Amendments to the Building Societies Act 1976

     s. 7



          (2)   Section 5(1) is amended by inserting the following definitions in
                the appropriate alphabetical positions --
                "
                      "ADI" (authorised deposit-taking institution) means a
5                         corporation that is an ADI for the purposes of the
                          Banking Act 1959 of the Commonwealth;
                      "society" means --
                          (a) a society formed and registered under this
                                Act and that by its rules is to terminate at a
10                              fixed date, or when a certain event or result
                                specified in its rules is arrived at; and
                          (b) a society of that type which was registered
                                under the repealed Act and which is still in
                                existence;
15                    "subsidiary", in relation to a society, has the meaning
                          given by section 5A;
                                                                                 ".

     7.         Section 5A replaced by sections 5A and 5B
                Section 5A is repealed and the following sections are inserted
20              instead --
     "
            5A.       Meaning of subsidiary
                (1)   In this Act, an incorporated body is a subsidiary of a
                      society if the society --
25                      (a) controls the composition of the board of
                              directors of that body;
                        (b) controls or is in a position to control more than
                              50% of the voting power at a general meeting
                              of that body; or
30                      (c) holds more than 50%, or such smaller
                              percentage as may be determined from time to


     page 4
                                Building Societies Amendment Bill 2001
             Amendments to the Building Societies Act 1976      Part 2

                                                                          s. 7



                     time by the Registrar by notice published in the
                     Gazette, of the issued share capital of the body
                     (excluding any part of that issued share capital
                     that carries no right to participate beyond a
5                    specified amount in a distribution of either
                     profits or capital).
       (2)   Without limiting by implication the circumstances in
             which the composition of the board of directors of an
             incorporated body is taken to be controlled by a
10           society, the composition of such a board of directors is
             taken to be controlled by a society if that society by the
             exercise of some power exercisable whether with or
             without the consent or concurrence of any other person
             by that society, can appoint or remove all or a majority
15           of the directors.
       (3)   For the purposes of this section, the society is taken to
             have power to make such an appointment if --
               (a) a person cannot be appointed as a director
                     without the exercise of such a power by that
20                   society in the person's favour; or
               (b) a person's appointment as a director follows
                     necessarily from the person being a director or
                     other officer of the society.

     5B.     Application of Act
25           Sections 4(2) and 6(8) (and any other provision where
             the context would enable this section to apply) have
             effect only in relation to a society as defined (from
             time to time) on and from the commencement of this
             section.
30                                                                         ".




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     Building Societies Amendment Bill 2001
     Part 2          Amendments to the Building Societies Act 1976

     s. 8



     8.          Section 13 amended
                 Section 13 is amended as follows:
                     (a)   in paragraph (a) by deleting "by subscription, or
                           otherwise,";
5                    (b)   after paragraph (a) by deleting "and";
                     (c)   after paragraph (b) by deleting the full stop and
                           inserting --
                           "
                                 ; and
10                         (c)   to act as an agent for authorities or institutions
                                 whose objects are similar to those of the
                                 society.
                                                                                       ".

     9.          Section 13A amended
15         (1)   Section 13A is amended as follows:
                  (a) by inserting before "Subject to this Act" the subsection
                        designation "(1)";
                  (b) by deleting "building society" and inserting instead --
                        " society ".
20         (2)   At the end of section 13A the following subsection is
                 inserted --
                 "    (2) A society must not have a subsidiary.       ".

     10.         Section 14 amended
           (1)   Section 14(1) is amended by deleting "and may be formed as a
25               permanent society or a terminating society".
           (2)   Section 14(4) is amended by deleting "application for
                 membership and shares" and inserting instead --
                 "    application for membership and a share in the society       ".


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                                               Building Societies Amendment Bill 2001
                            Amendments to the Building Societies Act 1976      Part 2

                                                                                      s. 11



           (3)       Section 14(5) is repealed and the following subsection inserted
                     instead --
                 "
                     (5)     No application for a share in a proposed society, made
5                            prior to the registration of that society, may be
                             withdrawn, and every person who makes such an
                             application is, upon the registration of the society,
                             liable to pay to the society the value of the share.
                                                                                        ".
10   11.             Section 15 amended
           (1)       Section 15(2)(b)(v) is amended by deleting ", and stating the
                     number of shares for which each of those persons applied".
           (2)       Section 15(2)(b)(vi) is deleted.
     12.             Section 23 amended and transitional
15         (1)       Section 23(1a) is amended by deleting "building society" and
                     inserting instead --
                     "     housing society   ".
           (2)       During the period of 12 months after the day on which this Act
                     commences, a society (within the meaning of the Housing
20                   Societies Act 1976) does not breach section 23(1a) of that Act,
                     even though it does not comply with that provision, if it would
                     not have been in breach of that provision had subsection (1) not
                     been enacted.

     13.             Sections 26 and 27 replaced
25                   Sections 26 and 27 are repealed and the following sections are
                     inserted instead --
     "
             26.             Interpretation of this Part
                             In this Part --
30                           "amalgamated society" means the society that is
                                  proposed to be formed, or has been formed, by the

                                                                                 page 7
     Building Societies Amendment Bill 2001
     Part 2          Amendments to the Building Societies Act 1976

     s. 14



                            amalgamation of 2 or more societies under this
                            Part;
                         "amalgamating society" means a society that has
                            applied under section 28(1) for approval to
5                           amalgamate with one or more other societies.

             27.         Amalgamation of societies
                         Subject to this Part, 2 or more societies may
                         amalgamate to form a society.
                                                                                 ".

10   14.           Section 29 amended
                   Section 29(1)(d) and (2) are amended by deleting "an
                   institution" and inserting instead --
                   "   a society ".

     15.           Section 29B amended
15         (1)     Section 29B(1) is amended by deleting "the society, or each
                   society, that is an amalgamating institution" and inserting
                   instead --
                   "   each amalgamating society     ".
           (2)     Section 29B(2) is amended by deleting "amalgamated
20                 institution" and inserting instead --
                   "   amalgamating society     ".

     16.           Section 29C amended
           (1)     Section 29C(1)(a), (b), (e) and (f) are deleted.
           (2)     Section 29C(1)(c) and (d) are amended by deleting
25                 "terminating" in each place where it occurs.




     page 8
                                               Building Societies Amendment Bill 2001
                            Amendments to the Building Societies Act 1976      Part 2

                                                                                    s. 17



     17.             Section 31 amended
           (1)       Section 31(1) is amended as follows:
                      (a) in paragraph (a) by deleting "provide financial
                            accommodation" and inserting instead --
5                           " advance money ";
                      (b) by deleting paragraph (b);
                      (c) after paragraph (c) by deleting the semicolon and
                            inserting a full stop;
                      (d) by deleting paragraph (d) and the full stop.
10         (2)       Section 31(2) is amended by deleting "the provision of financial
                     accommodation" and inserting instead --
                     "     an advance of money     ".
           (3)       Section 31(5) is repealed and the following subsection is
                     inserted instead --
15               "
                     (5)     A society must not advance money unless there are
                             reasonable grounds for believing, before the
                             application for the advance is approved --
                               (a) that the person to whom the money is to be
20                                   advanced has, and will continue to have, an
                                     income or other financial resources sufficient to
                                     provide for the fulfilment of his or her
                                     obligations in respect of that advance, or to
                                     which the advance relates; or
25                             (b) where the money is to be advanced with
                                     security, that the security is adequate.
                                                                                         ".
     18.             Section 32 amended
           (1)       Section 32(1) is amended by deleting "financial accommodation
30                   that may be provided" and inserting instead --
                     "     advance   ".

                                                                                  page 9
     Building Societies Amendment Bill 2001
     Part 2          Amendments to the Building Societies Act 1976

     s. 19



           (2)   Section 32(1) and (3) are amended by deleting "provide
                 financial accommodation" and inserting instead --
                 "    advance money     ".
     19.         Section 33 amended
5          (1)   Section 33(1) is amended as follows:
                     (a)   by deleting "provided with financial accommodation
                           under section 31(1)(a) or (d)" and inserting instead --
                           " advanced money under section 31(1)(a) ";
                     (b)   by deleting "financial accommodation is to be provided"
10                         and inserting instead --
                           " money is to be advanced ".
           (2)   Section 33(2) is amended as follows:
                  (a) by deleting ", except where the financial
                        accommodation to be provided is a guarantee";
15                (b) in paragraphs (a) and (b) by deleting "financial
                        accommodation is to be provided" and inserting
                        instead --
                        " money is to be advanced ".

     20.         Section 38 amended
20               Section 38(1) is amended by deleting "(other than a permanent
                 society)".
     21.         Section 39 amended
                 Section 39 is amended by deleting "(other than a Starr Bowkett
                 society)".

25   22.         Section 41 amended
                 Section 41(1) is amended as follows:
                   (a) by deleting "Every permanent" and inserting instead --
                        " Each ";

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                                               Building Societies Amendment Bill 2001
                            Amendments to the Building Societies Act 1976      Part 2

                                                                                         s. 23



                      (b)        by deleting paragraph (c) and inserting the following
                                 paragraph instead --
                            "
                                  (c)   the total of member's paid up share capital,
5                                                                                             ";
                      (c)        after "calendar month" by inserting --
                                 " (or such longer period as the Registrar allows)       ".
     23.             Section 43 replaced
                     Section 43 is repealed and the following section is inserted
10                   instead --
     "
             43.                Distribution of reserves
                                An amount maintained by a society in a reserve
                                account --
15                                (a) may be distributed to members in accordance
                                       with the society's rules;
                                  (b) may be distributed to members on the winding
                                       up of the society; or
                                  (c) may be applied to any other purpose to which
20                                     the capital of the society may be applied.
                                                                                              ".
     24.             Section 45 amended
           (1)       Section 45(1) is amended by deleting "or have invested or may
                     invest in the society or have deposited or may deposit money
25                   with the society".
           (2)       Section 45(2) and (3) are repealed and the following subsections
                     are inserted instead --
                 "
                     (2)        Subject to this section, while this subsection applies to
30                              a society, the society must not --
                                  (a) borrow any money; or

                                                                                       page 11
     Building Societies Amendment Bill 2001
     Part 2          Amendments to the Building Societies Act 1976

     s. 25



                               (b)   make repayments of any loan, or otherwise
                                     dispose of or deal with any property or assets of
                                     the society without the consent of the Registrar.
                      (3)     This section does not make it unlawful for a society to
5                             borrow money from another society in accordance with
                              section 47(2) or, with the consent in writing of the
                              Registrar, to borrow money from an ADI.
                                                                                         ".

     25.              Section 48 amended
10         (1)        Section 48(1), (1a), (1b), (2) and (2a) are repealed and the
                      following subsection is inserted instead --
                 "
                      (1)     A society may receive loans (other than from its
                              members) to be applied to the purposes of the society.
15                                                                                       ".
           (2)        Section 48(3) is amended by deleting "Any member or other
                      person depositing or lending money with or to any society," and
                      inserting instead --
                      "     A person lending money to a society ".

20   26.              Section 50 amended
           (1)        After section 50(1) the following subsection is inserted --
                 "
                     (1a)     Only a natural person can be a member of a society.
                                                                                         ".
25         (2)        Section 50(2a) is amended by deleting ", or section 37G of the
                      Credit Unions Act 1979,".
           (3)        Section 50(3) is amended by deleting "or acquired such shares
                      or interests, as are provided" and inserting instead --
                      " or acquired a share or other interest, as provided    ".


     page 12
                                               Building Societies Amendment Bill 2001
                            Amendments to the Building Societies Act 1976      Part 2

                                                                                      s. 27



     27.             Section 51 amended
                     Section 51(1) is amended by deleting "or a depositor".
     28.             Section 53 amended
           (1)       Section 53(1), (2), (3) and (4) are repealed and the following
5                    subsections are inserted instead --
                 "
                     (1)     Shares issued by a society may be divided into classes
                             and the classes may have different rights attached to
                             them.
10                   (2)     Shares issued by a society must be of one
                             denomination, of a nominal amount and fully paid up.
                     (3)     A member of a society may have only one share in the
                             society (whether held jointly or not).
                                                                                        ".
15         (2)       Section 53(8) is amended by deleting "together with the amount
                     (if any) in arrears in respect of the share".
     29.             Section 54 amended
           (1)       Section 54(1) is amended by deleting "shares in a society are"
                     and inserting instead --
20                   "     a share in a society is   ".
           (2)       Section 54(2) is amended as follows:
                      (a) after paragraph (a) by inserting --
                            " and ";
                      (b) by deleting paragraph (b) and "and" after it;
25                    (c) by deleting "the shares" and inserting instead --
                            " a share ".
           (3)       Section 54(3) is amended by deleting "shares" and inserting
                     instead --
                     "     a share   ".

                                                                                page 13
     Building Societies Amendment Bill 2001
     Part 2          Amendments to the Building Societies Act 1976

     s. 30



           (4)   Section 54(4) is amended by deleting "any shares" and inserting
                 instead --
                 "   a share          ".

     30.         Section 55 amended
5                Section 55 is amended by deleting "shares" and inserting
                 instead --
                 "   share       ".

     31.         Section 57 amended
                 Section 57(5) is amended by deleting all of the subsection from
10               and including "not more than 2 months" and inserting
                 instead --
                 "
                          not more than 3 months after the last preceding
                          meeting of the board.
15                                                                                      ".

     32.         Section 59 amended
           (1)   Section 59(2) is amended by deleting "which is not a permanent
                 society".
           (2)   Section 59(4a)(b) is deleted and the following paragraph is
20               inserted instead --
                      "
                           (b)        by reason of that vacancy, the society has less
                                      than 5 directors, or less than the number of
                                      directors that the Registrar has approved under
25                                    subsection (2),
                                                                                        ".




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                           Amendments to the Building Societies Act 1976      Part 2

                                                                                   s. 33



           (3)       Section 59(7) is repealed and the following subsection is
                     inserted instead --
                 "
                     (7)   Subject to the rules of a society, not more than 2, or one
5                          half, of the directors (whichever is the lesser number)
                           may be appointed from employees of the society.
                                                                                        ".

     33.             Section 61 amended
           (1)       Section 61(1) and (2) are repealed and the following subsections
10                   are inserted instead --
                 "
                     (1)   A director of a society must not obtain an advance of
                           money from the society on conditions that are more
                           favourable than those generally extended to members,
15                         and the society must not so advance money to a
                           director --
                             (a) if the director is also a full-time officer of the
                                   society --
                                      (i) if the advance is to be provided on the
20                                         security of a mortgage over his or her
                                           ordinary place of residence -- except by
                                           a resolution of the board; or
                                     (ii) if the advance is to be provided other
                                           than on such security -- except by
25                                         special resolution of the society;
                             (b) if the director is not also a full-time officer of
                                   the society --
                                      (i) if the advance is to be provided on the
                                           security of a mortgage over his or her
30                                         ordinary place of residence -- except by
                                           a resolution of a meeting of the society;
                                           or


                                                                                 page 15
     Building Societies Amendment Bill 2001
     Part 2          Amendments to the Building Societies Act 1976

     s. 34



                                   (ii)        if the advance is to be provided other
                                               than on such security -- except by
                                               special resolution of the society.
                  (2)     If an advance is provided in contravention of
5                         subsection (1), the directors who authorised the
                          advance are jointly and severally liable for any loss
                          suffered by the society in respect of the advance.
                 (2a)     A society must not advance money to an officer of the
                          society who is not a director unless the advance has
10                        been first approved at a meeting of the board of the
                          society.
                                                                                        ".

     34.          Section 65 amended
           (1)    Section 65(1a) is amended by deleting "(1b), (1c) and (1d)" and
15                inserting instead --
                  "     (1b) and (1c)     ".
           (2)    Section 65(1b) is amended as follows:
                   (a) by deleting "financial accommodation provided" and
                         inserting instead --
20                       " money advanced ";
                   (b) in paragraph (a) by deleting "advance or credit
                         provided" and inserting instead --
                         " money advanced ";
                   (c) in paragraph (b) by deleting "financial accommodation
25                       approved" and inserting instead --
                         " advances of money approved ".
           (3)    Section 65(1c) is amended as follows:
                   (a) by deleting "financial accommodation has been
                         provided" and inserting instead --
30                       " money has been advanced ";

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                                                  Building Societies Amendment Bill 2001
                               Amendments to the Building Societies Act 1976      Part 2

                                                                                      s. 35



                         (b)     by deleting "that financial accommodation" and
                                 inserting instead --
                                 " that advance ".
           (4)       Section 65(1e) is amended by deleting "financial
5                    accommodation" and inserting instead --
                     "     advance of money       ".
           (5)       Section 65(9)(b) is amended by deleting "from members and
                     depositors" and "by depositors".
           (6)       Section 65(24) is amended by deleting "terminating or Starr
10                   Bowkett".
           (7)       Section 65(25)(a) is amended by deleting "referred to in that
                     subsection".

     35.             Section 66 amended
           (1)       Section 66(1) is repealed and the following subsection is
15                   inserted instead --
                 "
                     (1)       The provisions of this section apply to a society despite
                               anything to the contrary in the rules of the society.
                                                                                           ".
20         (2)       Section 66(5)(a) is amended by deleting "other than
                     indebtedness of the kind referred to in section 68(5)(e)".
     36.             Section 71 amended
                     Section 71(3)(d) is deleted.
     37.             Section 75 amended
25                   After section 75(4) the following subsection is inserted --
                 "
                     (5)       For the purposes of this section, and a legal proceeding
                               in relation to --
                                 (a) a right or liability acquired, accrued or
30                                      incurred; or

                                                                                   page 17
     Building Societies Amendment Bill 2001
     Part 2          Amendments to the Building Societies Act 1976

     s. 38



                                (b)   a thing done,
                               before the commencement of this subsection, "society"
                               has the meaning that it had immediately before that
                               commencement.
5                                                                                         ".

     38.             Section 76 amended
           (1)       Section 76(1) is amended by deleting paragraph (a) and
                     inserting instead --
                           "
10                              (a)   trade, carry on business, or advertise for loan
                                      funds under any name or title of which the
                                      words "housing society" or "housing societies"
                                      form a part;
                                                                                          ".
15         (2)       Section 76(1)(b) and (c) are amended by deleting "building" and
                     inserting instead --
                     "     housing     ".
           (3)       Section 76(2) is repealed and the following subsection inserted
                     instead --
20               "
                     (2)       For the purposes of this section, a person or body of
                               persons, whether incorporated or unincorporated, is
                               taken to be trading or carrying on business as a housing
                               society if that person or body of persons administers a
25                             fund or scheme the money of which is to be applied
                               solely or principally in loans to members of a group,
                               secured by mortgage over land, for the purpose of
                               purchasing or building dwelling-houses in which one
                               or more of those members reside or propose to reside.
30                                                                                        ".




     page 18
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                      Amendments to the Building Societies Act 1976      Part 2

                                                                              s. 39



           (4)   Section 76(3) and (4) are amended by deleting "building" and
                 inserting instead --
                 "   housing    ".

     39.         Section 78 amended
5          (1)   Section 78(1) is amended by deleting "the provision of financial
                 accommodation" and inserting instead --
                 "   an advance of money    ".
           (2)   Section 78(3) is amended as follows:
                  (a) by deleting "the provision of financial accommodation"
10                      in the first place where it occurs and inserting instead --
                        " an advance ";
                  (b) by deleting "the provision of financial accommodation"
                        in the second place where it occurs and inserting
                        instead --
15                      " the advance ";
                  (c) by deleting "financial accommodation" in the third place
                        where it occurs and inserting instead --
                        " advance ".

     40.         Section 87 amended
20               Section 87(1) is amended by deleting "(not being a decision to
                 consent to or refuse the resignation of an auditor of a permanent
                 society)".

     41.         Section 88 amended
                 Section 88(1) is amended by deleting ", capital or deposits" and
25               inserting instead --
                 " or capital    ".




                                                                           page 19
     Building Societies Amendment Bill 2001
     Part 2          Amendments to the Building Societies Act 1976

     s. 42



     42.         Section 90 amended
                 Section 90(1)(a) is amended by deleting "the provision of
                 financial accommodation" and inserting instead --
                 "   advancing money      ".

5    43.         Various references to institution changed to society
           (1)   Each provision listed in the Table to this subsection is amended
                 by deleting "institution" in each place that it occurs and
                 inserting instead --
                 "   society     ".
10                                          Table
                 s. 29(1)(a) and (b)              s. 29B(3), (4), (5) and (8)
                 s. 29(1)(d) (in the second       s. 29C(3)(b) and (c)
                 place)                           s. 29D(5)(b)
                 s. 29(2) (in the second place)
                 and (3)
           (2)   Each provision listed in the Table to this subsection is amended
                 by deleting "institutions" in each place that it occurs and
                 inserting instead --
                 "   societies    ".
15                                          Table
                 s. 28(1) and (3)                   s. 29C(2)
                 s. 29(1)(a)(i) and (c)             s. 50(2) and (2a)
                 s. 29A(a) and (c)




     page 20
                                  Building Societies Amendment Bill 2001
               Amendments to the Building Societies Act 1976      Part 2

                                                                            s. 44



    44.   Various provisions repealed
          Each provision listed in the Table to this section is repealed.
                                    Table
          s. 15(3)                          s. 53(6), (9), (10), (10a),
          s. 29D(2)                         (10b) and (11)
          s. 29E(2)                         s. 53A
          s. 29F                            s. 64A
          s. 29G                            s. 64B
          s. 34                             s. 65(1d), (2a) and (2b)
          s. 37                             s. 67
          s. 40                             s. 68
          s. 42                             s. 71(8)
          s. 45(7)                          s. 77
          s. 50(2b)                         s. 92A
          s. 52                             Part XI

    45.   Various references to "moneys" amended
5         Each provision listed in the Table to this section is amended by
          deleting "moneys" in each place that it occurs and inserting
          instead --
          "   money ".
                                    Table
          s. 13A(b)                         s. 51(2)(b)
          s. 16(1) and (2)                  s. 56(1)
          s. 30(1) and (3)                  s. 62(c)
          s. 31(1)(c)                       s. 81(1) and (2)




                                                                          page 21
     Building Societies Amendment Bill 2001
     Part 3          Amendments to other Acts

     s. 46



                    Part 3 -- Amendments to other Acts
     46.         Companies (Co-operative) Act 1943 amended
           (1)   The amendments in this section are to the Companies
                 (Co-operative) Act 1943*.
5                [* Reprinted as at 14 January 2000.]
           (2)   Section 28(1)(b) is deleted and the following paragraph is
                 inserted instead --
                     "
                         (b)   contains the words "building society" or
10                             "housing society";
                                                                                 ".
           (3)   Section 176A(1)(c) is deleted and the following paragraph is
                 inserted instead --
                     "
15                       (c)   a society under the Housing Societies Act 1976;
                                                                                 ".
     47.         Constitution Acts Amendment Act 1899 amended
                 Schedule V Part 3 of the Constitution Acts Amendment
                 Act 1899* is amended by deleting the item relating to the
20               Building Societies Advisory Committee.
                 [* Reprinted as at 19 May 2000.
                    For subsequent amendments see 2000 Index to Legislation of
                    Western Australia, Table 1, p. 86-7 and No. 43 of 2000.]

     48.         Equal Opportunity Act 1984 amended
25         (1)   The amendments in this section are to the Equal Opportunity
                 Act 1984*.
                 [* Reprinted as at 21 July 2000.
                    For subsequent amendments see Acts Nos. 36 and 58 of
                    1999.]

     page 22
                                                Building Societies Amendment Bill 2001
                                               Amendments to other Acts         Part 3

                                                                                     s. 49



           (2)   Section 35N(1)(d) is deleted and the following paragraph is
                 inserted instead --
                      "
                          (d)       the rules of a society registered under the
5                                   Housing Societies Act 1976.
                                                                                       ".
           (3)   Sections 66ZS(1)(a)(iv) and 69(1)(b)(iv) are deleted and the
                 following subparagraph is inserted instead --
                                "
10                                  (iv)   the rules of a society registered under
                                           the Housing Societies Act 1976;
                                                                                       ".

     49.         Housing Act 1980 amended
                 Section 55(5) of the Housing Act 1980* is amended by deleting
15               "in the case of a building society other than a permanent
                 building society" and inserting instead --
                 "   in the case of a housing society ".
                 [* Reprinted as at 27 May 1999.
                    For subsequent amendments see 2000 Index to Legislation of
20                  Western Australia, Table 1, p. 205.]

     50.         Real Estate and Business Agents Act 1978 amended
                 Section 131O(1)(e) of the Real Estate and Business Agents
                 Act 1978* is amended by deleting "Building Societies" and
                 inserting instead --
25               "   Housing Societies         ".
                 [* Reprinted as at 9 March 2001.]




                                                                                  page 23
    Building Societies Amendment Bill 2001
    Part 3          Amendments to other Acts

    s. 51



    51.       Amendments consequential on changing the name of the Act
              Each provision listed in the Table to this section is amended by
              deleting "Building Societies Act 1976" and inserting instead --
              "   Housing Societies Act 1976 ".
5                                        Table
              Companies (Co-operative)       Sections 46(3a)(a), 172(1)(a) and
              Act 1943                       366 (the definition of "Company")
              Country Housing Act 1998       Section 43(1)
              Credit Act 1984                Section 18(1)
              Credit (Administration)
              Act 1984                       Section 7(1)(h)
              Criminal Property              Glossary (paragraph (d) of the
              Confiscation Act 2000          definition of "financial institution")
              Finance Brokers Control
              Act 1975                       Section 5(1)(c)
              Housing Act 1980               Section 52(1) (paragraph (a) of the
                                             definition of "lending institution")
              Housing Loan Guarantee
              Act 1957                       Sections 5(1)(a) and 10
              Real Estate and Business       Section 131A (paragraph (c) of the
              Agents Act 1978                definition of "lending institution")
              Stamp Act 1921                 Third Schedule Items 3(2), 7(7) and
                                             7(11)
              Western Australian Treasury
              Corporation Act 1986           Schedule 1 Item 4




 


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