Document ID: chunk:federal_register_of_legislation:C2004C01110:clause:4_16g
Version: federal_register_of_legislation:C2004C01110
Segment Type: clause
Provision Reference: sch 4 cl 16G
Character Range: 155415–156566

16G  Act generally applies as if references to a statutory fund were references to an approved benefit fund

 (1) Subject to subsection (2), this Act applies to a friendly society as if each reference to a statutory fund were instead a reference to an approved benefit fund.

Note: An approved benefit fund is a benefit fund for which there are approved benefit fund rules (see the definition in section 16B). Benefit fund rules are approved benefit fund rules if an approval under section 16L is in force in relation to the rules and the rules are in force under section 16N.

 (2) Subsection (1) has effect subject to:
 (a) the other provisions of this Subdivision; and
 (b) the expression of a contrary intention in a particular provision; and
 (c) the expression of a contrary intention in a particular provision of regulations for the purposes of section 16ZC.

 (3) Other laws of the Commonwealth have effect in relation to friendly societies as if any reference in such a law to a statutory fund of a life company also included a reference to an approved benefit fund of a friendly society, subject to the expression of a contrary intention.