Document ID: chunk:federal_register_of_legislation:C2006C00145:clause:19_8
Version: federal_register_of_legislation:C2006C00145
Segment Type: clause
Provision Reference: sch 19 cl 8
Character Range: 219934–222161

8  Treatment of matters under depositor protection provisions

(1) The following provisions apply in relation to matters under provisions of Division 2 of Part II of the old Act (including matters under those provisions as applying for the purpose of subsection 65(3) of the old Act):
 (a) an obligation to provide information to the Reserve Bank, or to inform the Reserve Bank of a matter, under a provision of the Division, being an obligation that is undischarged as at the APRA commencement, becomes, on the APRA commencement, an obligation to provide the information to APRA, or to inform APRA of the matter;
 (b) an appointment of an investigator under a provision of the Division, being an appointment that is still in force immediately before the APRA commencement, has effect after that commencement as if it were an appointment by APRA under section 13 or 13A of the amended Act;
 (c) if the Reserve Bank is, immediately before the APRA commencement, in control of an institution's business under a provision of the Division, the Reserve Bank is to transfer the control of the institution's business to APRA, and the provisions of Division 2 of Part II of the amended Act apply in relation to APRA being in control of the institution's business;
 (d) proceedings under subsection 14(6) of the old Act that have not been completed by the APRA commencement lapse;
 (e) an obligation on the Reserve Bank under a provision of the Division to publish notice of a matter, being an obligation that is undischarged as at the APRA commencement, becomes, on that commencement, an obligation that APRA is to discharge;
 (f) an authorisation that is in force under subsection 16(2) of the old Act immediately before the APRA commencement has effect, after that commencement, as if it were an authorisation under subsection 13A(4) of the amended Act.

(2) The regulations may make provision dealing with how the transfer of control of an institution's business as mentioned in paragraph (1)(c) is to occur, or otherwise relating to such a transfer.

(3) Section 15 of the old Act continues to have effect (despite its repeal) after the APRA commencement in relation to things done or omitted to be done before that commencement.