Banking (Queensland Industry Development Corporation) Amendment Act 1995

No. 99 of 1995

An Act to amend the Banking Act 1959

[Assented to 15 September 1995]

The Parliament of Australia enacts:

Short title

1.   This Act may be cited as the Banking (Queensland Industry Development Corporation) Amendment Act 1995.

Commencement

2.   This Act commences on the day on which it receives the Royal Assent.

Schedule

3.   The Banking Act 1959 is amended as set out in the Schedule.

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SCHEDULE                                          Section 3

AMENDMENT OF THE BANKING ACT 1959

1. Subsection 5(1) (definition of “bank”):

After “includes” insert “the Queensland Industry Development Corporation,”

2. Subsection 5(1):

Insert the following definition:

“ ‘Queensland Industry Development Corporation’ means the body of that name established under the Queensland Industry Development Corporation Act 1985 of Queensland and continued in existence under the Queensland Industry Development Corporation Act 1994 of Queensland;”.

3. Subsection 6(1):

Omit “subsections (1A) and (1B),”, substitute “subsections (1A), (1B) and (1C),”.

4. After subsection 6(1B):

Insert:

“(1C) Part II (other than Division 1), Part V and sections 61, 62, 64, 65, 68 and 69 apply to the Queensland Industry Development Corporation.

Note: The matter of State banking in so far as it applies to the Queensland Industry Development Corporation has been referred to the Parliament of the Commonwealth by the Parliament of Queensland.”.

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[Minister’s second reading speech made in— House of Representatives on 22 June 1995 Senate on 27 June 1995]