📜 Acts Amendment and Repeal (Financial Sector Reform) Bill 1999

Assented toLABill 962 June 1999

This Bill repeals several Western Australian Acts related to financial institutions, including those governing building societies, credit unions, and friendly societies. It enacts transitional provisions to facilitate the transfer of regulatory responsibility to the Commonwealth and amends various other Acts to reflect these changes.

Impact

Building societies, credit unions, and friendly societies in Western Australia are affected, as their regulatory oversight shifts to the Commonwealth. Consumers using these institutions may also be indirectly affected. The bill aims to streamline financial sector regulation.

Key Changes

["Repeals the Financial Institutions (Western Australia) Act 1992.", "Transfers regulatory responsibility for building societies, credit unions, and friendly societies to the Commonwealth.", "Amends various Acts to reflect the transfer of regulatory responsibility."]