Queensland

Financial Intermediaries Act 1996

Financial Intermediaries Regulation 2007

Reprinted as in force on 24 August 2007

Reprint No. 1*

This reprint is prepared by the Office of the Queensland Parliamentary Counsel WarningThis reprint is not an authorised copy

Minor differences in presentation between this reprint and another reprint with the same number are due to the conversion to new styles. The content has not changed.

Information about this reprint

This regulation is reprinted as at 24 August 2007. This page is specific to this reprint. A table of reprints is included in the endnotes. Also see endnotes for information about when provisions commenced. Spelling The spelling of certain words or phrases may be inconsistent with other reprints because of changes made in various editions of the Macquarie Dictionary (for example, in the dictionary, lodgement has replaced lodgment). Dates shown on reprints Reprints dated at last amendment All reprints produced on or after 1 July 2002, authorised (that is, hard copy) and unauthorised (that is, electronic), are dated as at the last date of amendment. Previously reprints were dated as at the date of publication. If an authorised reprint is dated earlier than an unauthorised version published before 1 July 2002, it means the legislation was not further amended and the reprint date is the commencement of the last amendment. If the date of an authorised reprint is the same as the date shown for an unauthorised version previously published, it merely means that the unauthorised version was published before the authorised version. Also, any revised edition of the previously published unauthorised version will have the same date as that version. Replacement reprint date If the date of an authorised reprint is the same as the date shown on another authorised reprint it means that one is the replacement of the other.

Queensland

Financial Intermediaries Regulation 2007

Contents
Page 1 2 3 4 5 6 7 8 9 10 11 12 13 Schedule Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Classes of documentsAct, s 22 . . . . . . . . . . . . . . . . . . . . . . . . Additional purpose of a societyAct, s 65. . . . . . . . . . . . . . . . . . Control of certain financial transactionsAct, s 67 . . . . . . . . . . . Registration of societiesAct, s 73 . . . . . . . . . . . . . . . . . . . . . . . RegistersAct, s 130. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Register of membersAct, s 132 . . . . . . . . . . . . . . . . . . . . . . . . Resignation of auditorsAct, s 154 . . . . . . . . . . . . . . . . . . . . . . . Final audit on merger etc.Act, s 160 . . . . . . . . . . . . . . . . . . . . . Forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Documents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repeal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 3 3 3 4 4 4 5 5 5 6 6 6 7

Endnotes 1 2 3 4 5 Index to endnotes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Date to which amendments incorporated. . . . . . . . . . . . . . . . . . . . . . Key . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Table of reprints . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . List of legislation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 8 8 9 9

Financial Intermediaries Regulation 2007 [s 1]

Financial Intermediaries Regulation 2007

[reprinted as in force on 24 August 2007]

Short title

This regulation may be cited as the Financial Intermediaries Regulation 2007.

2 Classes of documentsAct, s 22

The following classes of documents are prescribed for section 22(2)(a)(ii) of the Act (a) documents under, or in relation to, sections 11(4), 50(3), 51, 54(2), 54(3)(d), 74(1), 81(1), 82(3), 83(2), 91(3), 97(3), 128(3), 131(2), 131(5), 160(4), 163(1)(a), 169(3), 170(2), 173(2) and 173(3)(b) of the Act; documents filed with the registrar under the provisions of the Corporations Act mentioned in section 97C(1) of the Act.

(b)

Additional purpose of a societyAct, s 65

(1) (2)

For section 65(1)(d) of the Act, refinancing a loan, other than a residential loan, is an authorised purpose. However, subsection (1) applies for a society only if the society has not raised any funds the repayment of which is guaranteed by the Treasurer.

Control of certain financial transactionsAct, s 67

For section 67(1) of the Act, definition approved financial contracts, any bank is a prescribed bank.

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Financial Intermediaries Regulation 2007 [s 5]

Registration of societiesAct, s 73

For section 73(1) of the Act, an application for registration of a society must (a) (b) (c) be in writing; and contain the name and address of a person to whom communications about the application may be sent; and be signed by the persons elected at the formation meeting to be the first directors of the society.

RegistersAct, s 130

(1)

For section 130(1) of the Act, the following registers are prescribed (a) (b) (c) (d) a register of loans made to officers and employees of the society; a register of loans made to members of the society and of securities taken for the loans; a register of investments made by the society and of securities related to the investments; a register of the loans raised by the society, the securities issued by the society for the loans and the holders of the securities.

(2)

For section 130(2) of the Act, the registers must be kept in accordance with any applicable standards.

Register of membersAct, s 132

For section 132(1)(c) of the Act, the following information is prescribed for a member whose membership is terminated (a) (b) the date of termination of membership; the circumstances of the termination.

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Financial Intermediaries Regulation 2007 [s 8]

Resignation of auditorsAct, s 154

For section 154(1)(a) of the Act, the reasons for the application must include the following (a) a statement of any conflict or disagreement between the society and the auditor affecting the audits scope or the auditors role; a statement of any matter on which the auditor, if the auditor had remained in office, would have commented adversely; a statement of any proposal, known to the auditor, for replacement of the auditor.

(b)

(c)

Final audit on merger etc.Act, s 160

For section 160(2) of the Act, the statements and information prescribed to be included in a societys auditors report are those matters mentioned in section 158(2), (4), and (7) of the Act, with any necessary changes.
10 Forms

(1) (2)

The name of a person who signs a form must be written legibly under or next to the signature of that person. If the space provided in a form is insufficient to contain all the required information (a) (b) (c) the information must be set out in an attachment to the form; and the attachment must have a distinguishing mark such as a letter or numeral; and the space provided in the form must contain the statement see attachment together with the distinguishing mark for the attachment, or words to similar effect.

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Financial Intermediaries Regulation 2007 [s 11]

11

Documents

(1)

A document filed by a society must be signed by 2 directors or a director and the secretary of the society unless some other provision is made by the Act or a standard. If an agent signs a document that is to be filed with the registrar, the original or a verified copy of the agents authority must be filed with, endorsed on, or attached to, the document.

(2)

12

Fees

The fees payable under the Act are stated in the schedule.
13 Repeal

The Financial Intermediaries Regulation 1996, SL No. 249 is repealed.

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Financial Intermediaries Regulation 2007 Schedule

Schedule

Fees
section 12
$

Inspection of a document under section 22(2)(a) of the Act (a) for the first page . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.00 (b) for each additional page . . . . . . . . . . . . . . . . . . . . . . .30 Certified copy of, or extract from, a document under section 22(2)(b) of the Act (a) for the first page . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00 (b) for each additional page . . . . . . . . . . . . . . . . . . . . . . .50 Filing of a document (a) if filed on time. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . nil (b) if filed not more than 1 month late . . . . . . . . . . . . . . 50.00 (c) if filed more than 1 month, but not more than 3 months, late . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.00 (d) if filed more than 3 months late . . . . . . . . . . . . . . . . 200.00

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Financial Intermediaries Regulation 2007 Endnotes

Endnotes
1
2 3 4 5

Index to endnotes
Page Date to which amendments incorporated . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 Key . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 Table of reprints . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 List of legislation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9

Date to which amendments incorporated

This is the reprint date mentioned in the Reprints Act 1992, section 5(c). However, no amendments have commenced operation on or before that day. Future amendments of the Financial Intermediaries Regulation 2007 may be made in accordance with this reprint under the Reprints Act 1992, section 49.

Key
Key to abbreviations in list of legislation and annotations

Key AIA amd amdt ch def div exp gaz hdg ins lap notfd num o in c om orig p para prec pres prev = = = = = = = = = = = = = = = = = = = = =

Explanation Acts Interpretation Act 1954 amended amendment chapter definition division expires/expired gazette heading inserted lapsed notified numbered order in council omitted original page paragraph preceding present previous

Key (prev) proc prov pt pubd R[X] RA reloc renum rep (retro) rv s sch sdiv SIA SIR SL sub unnum = = = = = = = = = = = = = = = = = = = =

Explanation previously proclamation provision part published Reprint No. [X] Reprints Act 1992 relocated renumbered repealed retrospectively revised edition section schedule subdivision Statutory Instruments Act 1992 Statutory Instruments Regulation 2002 subordinate legislation substituted unnumbered

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Financial Intermediaries Regulation 2007 Endnotes

Table of reprints

Reprints are issued for both future and past effective dates. For the most up-to-date table of reprints, see the reprint with the latest effective date. If a reprint number includes a letter of the alphabet, the reprint was released in unauthorised, electronic form only.
Reprint No. Amendments included Effective Notes

none

24 August 2007

List of legislation

Financial Intermediaries Regulation 2007 SL No. 208 made by the Governor in Council on 23 August 2007 notfd gaz 24 August 2007 pp 21513 commenced on date of notification exp 1 September 2017 (see SIA s 54) NoteThe expiry date may have changed since this reprint was published. See the latest reprint of the SIR for any change.

State of Queensland 2009

Reprint 1 effective 24 August 2007

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