Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999
109Subsection 5(4)
Start here
Get a plain-English read of 109
Turn the raw legal text into a practical explanation grounded in Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999.
109 Subsection 5(4)
(4) In paragraph (2)(ga):
building society means:
(a) a body corporate in relation to which the following conditions are satisfied:
(i) the body corporate is an ADI (authorised deposit‑taking institution) for the purposes of the Banking Act 1959;
(ii) the body corporate has a consent under section 66 of that Act that allows it to assume or use the expression building society, or another expression (whether or not in English) that is of like import to the expression building society; or
(b) a society registered or incorporated as a co‑operative housing society or similar society under a law of a State or Territory.