Australian Capital Territory Repealed Acts

This legislation has been repealed.

STATE BANK OF SOUTH AUSTRALIA (TRANSFER OF UNDERTAKING) ACT 1994 (REPEALED) - SECT 4

    (1)     The Treasurer may, with the concurrence of the South Australian Treasurer, by order in writing, transfer assets or liabilities of SBSA or an SBSA subsidiary to BSAL.

    (2)     An order under this section shall be made within the transfer period.

    (3)     If an order is made under this section on or before the appointed day, it takes effect (subject to any contrary provision in the order) on the appointed day.

    (4)     An order under this section may be varied or revoked by the Treasurer, with the concurrence of the South Australian Treasurer, by further order in writing made before the order takes effect.

    (5)     A transfer of an asset or liability under this section operates by force of this Act notwithstanding the provisions of any other law or any judgment, order or process of a court or any instrument.

    (6)     The transfer of a liability under this section operates to discharge the body corporate from which the liability was transferred from the liability.