Examples of AFIC Code in a sentence
The proposals for the AFIC regulatory reform of the Australian cooperative financial sector was based on perceptions of higher relative risk structures compared to banks, with the sanctions intended to encourage the rehabilitation of under- capitalised institutions.Credit union prudential standards are backed by the force of law under the AFIC Code.
The proposals for the AFIC regulatory reform of the Australian cooperative financial sector was based on these perceptions of higher relative risk structures compared to banks, with the sanctions intended to encourage the rehabilitation of under-capitalised institutions.5Credit union prudential standards are backed by the force of law under the AFIC Code.
General BackgroundWhile the AFIC Code allows a SSP to be established to serve a minimum of two societies, it is desirable that the constituency of each SSP be considerably larger.
The Financial Institutions Code, the Friendly Societies Code and the AFIC Code will consequently cease to be operative.Division 2 Provisions relating to AFICClause 18 recognises that the Financial Sector Reform (Queensland) Act 1999 is repealing the Queensland legislation establishing AFIC but preserving the existence of AFIC for limited purposes and for a limited time.
The Financial Institutions Code, the Friendly Societies Code and the AFIC Code will consequently cease to be operative.