Financial Intermediaries Act 1996
sec.82Power of the registrar to require changes of rules
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sec.82 Power of the registrar to require changes of rules
This section applies if the registrar considers that a society’s rules should be altered— to comply with this Act; or to give effect to a standard; or in the interests of the society’s members; or in the public interest. The registrar may, by written notice given to the society, require it, within a reasonable period stated in the notice, to alter its rules in a way stated in the notice or otherwise in a way approved by the registrar. If the society fails to alter its rules as required by the notice, the registrar may alter its rules by notation on the registered copy of the rules. The registrar must immediately give written notice to a society of— an alteration of its rules made under this section; and the day on which the alteration starts. The society must give written notice of the alteration to its members not later than the day on which notice is given of the society’s next general meeting. Maximum penalty—80 penalty units. The notice may, with the written approval of the registrar, be given by advertisement published in a newspaper circulating generally in the area of the State in which the society operates. s 82 amd 1999 No. 27 s 76 sch 1 pt 2 (sec.82-ssec.1) This section applies if the registrar considers that a society’s rules should be altered— to comply with this Act; or to give effect to a standard; or in the interests of the society’s members; or in the public interest. (sec.82-ssec.2) The registrar may, by written notice given to the society, require it, within a reasonable period stated in the notice, to alter its rules in a way stated in the notice or otherwise in a way approved by the registrar. (sec.82-ssec.3) If the society fails to alter its rules as required by the notice, the registrar may alter its rules by notation on the registered copy of the rules. (sec.82-ssec.4) The registrar must immediately give written notice to a society of— an alteration of its rules made under this section; and the day on which the alteration starts. (sec.82-ssec.5) The society must give written notice of the alteration to its members not later than the day on which notice is given of the society’s next general meeting. Maximum penalty—80 penalty units. (sec.82-ssec.6) The notice may, with the written approval of the registrar, be given by advertisement published in a newspaper circulating generally in the area of the State in which the society operates.
- (a) to comply with this Act; or
- (b) to give effect to a standard; or
- (c) in the interests of the society’s members; or
- (d) in the public interest.
- (a) an alteration of its rules made under this section; and
- (b) the day on which the alteration starts.