Document ID: chunk:federal_register_of_legislation:C2004A04777:front:0:p16
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is not a corporation.".

7. Paragraphs 66A(1)(b), (c) and (d):

  Omit the paragraphs, substitute:

     "(b) a co-operative within the meaning of the Co-operatives Act 1992 of New South Wales or a foreign co-operative within the meaning of that Act registered under Division 3 of Part 2 of that Act;

     (c) a friendly society within the meaning of the Friendly Societies Act 1989 of New South Wales;

     (d) a registrable body or recognised company in respect of which an exemption from compliance with subsection 61(1) of the Co-operation Act 1923 of New South Wales is in force;".

8. Paragraph 66A(2A)(b):

  Omit the paragraph.

9. Paragraph 66A(2A)(c):

  Omit the paragraph, substitute:

     "(c) a society within the meaning of the Co-operation Act 1981 of Victoria and a foreign society registered under Part XI of that Act;".

10. Paragraph 66A(2)(b):

  After "Queensland" insert "that is not a financial institution".

SCHEDULE 3—continued

11. Paragraph 66A(2)(f):

  Omit the paragraph.

12. Subsection 66A(3):

  After "body corporate" insert ", other than a financial institution,".

13. Paragraph 66A(4)(a):

  After "Western Australia" insert "that is not a financial institution".

14. Paragraph 66A(4)(b):

  Omit the paragraph, substitute:

  "(b) The WA Teachers Financial Society Limited;".

15. Paragraph 66A(5)(b):

  (a) After "society" insert ", other than a financial institution.".

  (b) Omit "the Building Societies Act 1876,".

16. Paragraph 66A(6)(a):

  After "Northern Territory" insert "that is not a financial institution".

17. Paragraph 66A(6)(b):

  Omit the paragraph.

18. Paragraph 66A(7)(a):

  After "Capital Territory" insert "that is not a financial institution".

19. Subsection 69A(1):

  Omit the subsection, substitute:

"(1) The following are exempt securities in relation to New South Wales:

    (a) securities of a body registered as a co-operative under the Co-operatives Act 1992 of New South Wales;

    (b) securities of a society, association or union registered under the Co-operation Act 1923 of New South Wales.".

20. Paragraph 69A(4)(a):

  Omit the paragraph, substitute:

     "(a) securities of a society registered under the Starr-Bowkett Societies Act 1975 of South Australia;".

21. Paragraph 69A(4)(b):

  Omit the paragraph.

SCHEDULE 3—continued

22. Paragraph 69A(5)(a):

  After "Northern Territory" insert "that is not a financial institution".

23. Paragraph 69A(5)(b):

  Omit the paragraph.

24. Before Part 1.3:

  Insert:

"PART 1.2B—FINANCIAL INSTITUTIONS

"Division 1—Object of Part

Object of Part

  "111AY. The object of this Part is:

     (a) to define 'financial institution' and other key expressions relevant to financial institutions (this is done in Division 2); and

     (b) to list some other key expressions used in this Law and indicate whether or not they cover financial institutions (this is done in Division 3).

Division 2—Definitions

Terms defined in Division

  "111AZ. This Division contains definitions of the following terms:

     (a) financial institution, building society and credit union (section 111AZA);

  (b) AFIC Codes (section 111AZB);

  (c) Financial Institutions