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Financial Sector Reform (New South Wales) Act 1999
39Conferral of functions and powers relating to building societies, credit unions and friendly societies
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39 Conferral of functions and powers relating to building societies, credit unions and friendly societies
39 Conferral of functions and powers relating to building societies, credit unions and friendly societies
(1) Either relevant Commonwealth body has the same enforcement powers relating to anything done or omitted to be done under a Code before the transfer date as AFIC or FINCOM had immediately before that date.
(2) For the purposes of subsection (1), a Code applies with all necessary changes.
(3) In this section:
Code means the AFIC Code, Financial Institutions Code or Friendly Societies Code.