Commonwealth Consolidated Acts

BANKING ACT 1959 - SECT 16AA

                   For the purposes of subsection 51(1) of the Competition and Consumer Act 2010 , the following things are specified and specifically authorised:

                     (a)  the acquisition of assets in a sale or disposal of the whole or part of the business of a body corporate under this Division by a Banking Act statutory manager in control of the body corporate's business (whether the assets are shares in another body corporate or other assets);

                     (b)  the acquisition of shares in a body corporate as a direct result of:

                              (i)  the issue or sale of the shares under this Division by a Banking Act statutory manager in control of the body corporate's business; or

                             (ii)  the exercise of a right to acquire shares that was issued or sold under this Division by a Banking Act statutory manager in control of the body corporate's business.