When responsibility for the regulation of companies and the securities industry was transferred to the Commonwealth, the Tasmanian Corporate Affairs Office ceased to exist. The Business Affairs Office was established to perform the registration functions that remained with the State. The Office was located administratively within the Registration Division of Justice and its head used the title Assistant Commissioner for Corporate Affairs. During the 1980s and early 1990s the remaining Friendly Societies in Tasmania were gradually wound up. The Tasmanian Office of Financial Supervision (TOFS) was established in August 1992 to register and supervise State banking, insurance and superannuation institutions. Responsibility for residual matters relating to Friendly Societies was later transferred to Treasury. In 1999 Business Affairs merged with Consumer Affairs to create the Office of Consumer Affairs and Fair Trading. In 2001 Business Affairs ceased to exist as a seperate Branch within the Office.