Australian Capital Territory Numbered Acts

FINANCIAL INSTITUTIONS (APPLICATION OF (NO. 28 OF 1992) - SECT 19

19. (1) If, under the financial institutions agreement, the Ministerial Council—

        (a)     approves—

              (i)     a proposed amendment of the AFIC Act or the Financial Institutions Act; or

              (ii)     regulations proposed to be made under the AFIC Act or the Financial Institutions Act (whether or not amending other regulations); and

        (b)     approves proposed regulations to be made under this Act in connection with the operation of the proposed amendment or regulations referred to in paragraph (a);

the Executive may make regulations in accordance with that approval varying the effect in the Territory of that Act or those regulations.

(2) If regulations are made under subsection (1), the AFIC Act or the Financial Institutions Act or regulations in force under either of those Acts have effect in the Territory (as the case requires) as if varied in accordance with the regulations made under subsection (1).