New South Wales Repealed Regulations

This legislation has been repealed.

STATE BANK (CORPORATISATION) SAVINGS AND TRANSITIONAL REGULATION 1990 - REG 5

5 Corporation may act in own name or in name of State Bank

(1) On and from:

(a) the commencement of the order under section 9 of the Act transferring the business undertaking of the State Bank to the Corporation, and

(b) the dissolution of the State Bank,

the Corporation may, in connection with that business undertaking, act in its own name as the universal successor of the State Bank or (if necessary) act in the name of the State Bank.

(2) Subclause (1) applies for all purposes, including for the purpose of the rules of private international law.

(3) Without limiting subclause (1), the Corporation may act in the name of the State Bank if it is necessary to do so under the law of any country to perfect the transfer of any asset, right or liability comprised in the business undertaking or to take legal proceedings in connection with any such asset, right or liability.

(4) For the purposes of this clause, the Corporation is authorised to use the seal of the State Bank.