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BENEFIT ASSOCIATIONS (REPEAL) BILL 2001

           Benefit Associations (Repeal) Bill

                        Circulation Print

             EXPLANATORY MEMORANDUM


Clause 1    provides that the main purpose of the Bill is to repeal the
            Benefit Associations Act 1958.

Clause 2    provides for the Act to come into operation on the day after it
            receives Royal Assent.

Clause 3    repeals the Benefit Associations Act 1958, which applies to
            associations (whether incorporated or unincorporated)
            undertaking or carrying on the business of sickness, hospital,
            medical or funeral benefits in Victoria. The Act is obsolete.
            No associations have ever been registered under the Act.

Clause 4    repeals section 20 of the Funerals (Pre-Paid Money) Act
            1993 which provides that nothing in that Act affects the
            operation of the Benefit Associations Act 1958.

Clause 5    makes a consequential amendment to section 17(3)(a) of the
            Financial Sector Reform (Victoria) Act 1999 by removing
            the reference to the Benefit Associations Act 1958.




541167                                        BILL LA CIRCULATION 6/4/2001
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