Queensland Consolidated Acts Queensland Consolidated Acts(1) On the changeover day for TSIRC--
(a) any adopted lending policy of a relevant Island council under the relevant provision ceases to have effect; and
(b) all amounts payable, or that would have become payable, to a relevant Island council because of a loan made to a person under the relevant provision become payable to TSIRC.
(2) In this section--
relevant Island council means each of the Island councils under the repealed Torres Strait Act, as in existence immediately before the changeover day for TSIRC, other than the Island councils for the following council areas under that Act--
(a) Bamaga council area;
(b) Seisia council area.
relevant provision means the repealed Torres Strait Act, section 46, as in force before the changeover day for TSIRC.