Financial Sector Reform (Savings and Transitional) Regulation 1999
20Stamp Duties Act 1920 No 47
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20 Stamp Duties Act 1920 No 47
20 Stamp Duties Act 1920 No 47
(1) In section 98 (1) of the Stamp Duties Act 1920 before its amendment by Schedule 6.21 to the Co-operative Housing and Starr-Bowkett Societies Act 1998, the reference to a “society registered or incorporated as a building society, permanent building society” in the definition of building society is to be construed as a reference to an authorised building society.
(2) In section 98 (1) of the Stamp Duties Act 1920 after its amendment by Schedule 6.21 to the Co-operative Housing and Starr-Bowkett Societies Act 1998, the reference to a “building society registered under the Financial Institutions (NSW) Code” in the definition of building society is to be construed as a reference to an authorised building society.
(3) In section 98 (1) of the Stamp Duties Act 1920, the reference to a society or other body of persons that is “registered or incorporated as a credit union or credit society, under the law in force in a State or a Territory relating to credit unions or credit societies” in paragraph (a) of the definition of credit union is to be construed as a reference to an authorised credit union.
(4) In section 98A (1) (w) and (wa) of the Stamp Duties Act 1920, a reference to a merger or transfer of engagements between building societies or credit unions is to be construed as a reference to a transfer of business under the Financial Sector (Transfers of Business) Act 1999 of the Commonwealth, despite the definitions of merger and transfer of engagements in section 98A (4).
Note—
Subclause (1) will apply to section 98 (1) of the Stamp Duties Act 1920 before the definition of building society in that section is amended by the Co-operative Housing and Starr-Bowkett Societies Act 1998, and will cease to apply when that amendment takes effect. Subclause (2) will apply to section 98 (1) once the amendment takes effect. The definition of credit union in section 98 (1) and the references to merger and transfer of business in section 98A are not affected by the .