sec.163Existing agreements with financial institutions

### sec.163 Existing agreements with financial institutions This section applies to an agreement entered into between the chief executive and an approved financial institution under the repealed Act about the keeping of general trust accounts by licensees that is in force immediately before the commencement. From the commencement, the agreement is taken to be an agreement entered into between the chief executive and a financial institution about the keeping of general trust accounts by agents under this Act. (sec.163-ssec.1) This section applies to an agreement entered into between the chief executive and an approved financial institution under the repealed Act about the keeping of general trust accounts by licensees that is in force immediately before the commencement. (sec.163-ssec.2) From the commencement, the agreement is taken to be an agreement entered into between the chief executive and a financial institution about the keeping of general trust accounts by agents under this Act.