75Dictionary in the Schedule (definition of policy document)

75 Dictionary in the Schedule (definition of policy document)

Omit “or a sinking fund policy”, substitute “, a sinking fund policy or a section 12A or 12B policy”.

76 Dictionary in the Schedule

prudential standards means standards made under Division 1 of Part 10A.

77 Dictionary in the Schedule

section 12A or 12B policy means a policy, other than a life policy or a sinking fund policy, issued, or taken to be issued, in the course of carrying on business covered by a declaration under section 12A or 12B.

78 Dictionary in the Schedule (definition of this Act)

this Act includes:

(a) the regulations, actuarial standards, prudential standards and Prudential Rules; and

(b) the Life Insurance Act 1995, and the instruments made under that Act referred to in paragraph (a), as they have effect because of Part 2A of that Act.

Schedule 5 Amendment of the Reserve Bank Act 1959

Schedule 5—Amendment of the Reserve Bank Act 1959

1 After section 6A

Insert in Part 1:

6B Application of Criminal Code

The Criminal Code applies to all offences against this Act.

2 At the end of subsection 44(1)

Add:

3 Subsection 79A(2) (note)

Omit “Note:”, substitute “Note 1:”.

4 At the end of subsection 79A(2)

Add:

5 At the end of subsection 79B(1)

Add:

Schedule 6 Miscellaneous amendments

Schedule 6—Miscellaneous amendments

Australian Securities and Investments Commission Act 1989

1 After subsection 11(9)

(9A) The Commission may have functions or powers conferred on it by or under a law of a State or Territory if:

(a) that law provides for, or relates to, the repeal, amendment or termination (however described) of the operation of, any of the replaced legislation within the meaning of item 22 of Schedule 8 to the Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999; and

(b) the conferral of the powers or functions is in accordance with:

(i) provisions of an agreement entered into by the Commonwealth and the State or Territory, being provisions approved by the Minister for the purposes of this subsection; or

(ii) an approval given by the Minister for the purposes of this subsection.

The Commission has the functions and powers so conferred by that law.