Document ID: chunk:federal_register_of_legislation:C2004A02846:body:0:p4
Version: federal_register_of_legislation:C2004A02846
Segment Type: other
Provision Reference: 
Character Range: 8243–11008

the following paragraph:
        "(ga) a prescribed company, being the business of insuring against the whole or part of any loss in relation to the withdrawable share capital of, and loans (including deposits) to, building societies; or"; and

     (c) by adding at the end thereof the following sub-section:
        "(4) In paragraph (2) (ga), 'building society' means a society registered or incorporated as a building society, co-operative housing society or similar society under the law in force in a State or Territory relating to such societies.".

Repeal of section 13
5. Section 13 of the Principal Act is repealed.

Public servant appointed as Commissioner may continue in office as public servant
6. Section 14 of the Principal Act is amended by omitting from paragraph (2) (e) "sections 13 and 15 do not" and substituting "section 15 does not".

Termination of appointment
7. Section 15 of the Principal Act is amended by inserting after paragraph (2) (a) the following paragraph:
     "(aa) fails, without reasonable excuse, to comply with his obligations under sub-section 12 (3);".
8. (1) Section 19 of the Principal Act is repealed and the following sections are substituted:

Acting Commissioner
"19. (1) The Treasurer may appoint a person to act as Commissioner—
     (a) during a vacancy in the office of Commissioner; or
     (b) during any period, or during all periods, when the Commissioner is absent from duty or from Australia or is, for any other reason, unable to perform the functions of his office,
but a person appointed to act during a vacancy shall not continue so to act for more than 12 months.
"(2) An appointment of a person under sub-section (1) may be expressed to have effect only in such circumstances as are specified in the instrument of appointment.
"(3) The Treasurer may—
     (a) determine the terms and conditions of appointment, including remuneration and allowances, of a person acting as Commissioner; and
     (b) terminate such an appointment at any time.
"(4) Where a person is acting as Commissioner in accordance with paragraph (1) (b) and the office of Commissioner becomes vacant while that person is so acting, then, subject to sub-section (2), that person may continue so to act until the Treasurer otherwise directs, the vacancy is filled or a period of 12 months from the date on which the vacancy occurred expires, whichever first happens.

"(5) The appointment of a person to act as Commissioner ceases to have effect if he resigns his appointment by writing signed by him and delivered to the Treasurer.
"(6) While a person is acting as Commissioner, he has and may exercise all the powers, and shall perform all the functions, of the Commissioner under this Act or the regulations.
"(7) Sections 11,