South Australian Current Acts

STATE BANK (CORPORATISATION) ACT 1994 - SECT 3

3—Interpretation

        (1)         In this Act—

"appointed day" means a day fixed as the appointed day by proclamation under this section ¹ ;

"asset" means property including property held in a fiduciary capacity;

"BSAL" means the public company with the name Bank of South Australia Limited formed under the Corporations Law ;

"CEO" of BSAL means the chief executive officer of BSAL (however described) or a delegate of the chief executive officer;

"corresponding law" means a law of another State or a Territory providing for the transfer of assets and liabilities between—

            (a)         SBSA or SBSA subsidiaries; and

            (b)         BSAL;

"document" includes any disc, tape or other medium in which information is stored;

"guarantee" includes indemnity;

"instrument" includes a legislative instrument and a judgment, order or process of a court;

"land" includes an estate or interest in land;

"legal proceedings" includes an arbitration and an administrative proceeding;

"liability" means a present, future or contingent liability (arising either at law or in equity) and includes a duty or non-pecuniary obligation;

"property" means real or personal property and includes—

            (a)         a chose in action; and

            (b)         a present, future or contingent right, privilege, interest or power;

"SBSA" means the State Bank of South Australia or, according to the context, that body as continued in existence under the name the South Australian Asset Management Corporation ;

"SBSA subsidiary" or "subsidiary" means—

            (a)         a company specified in Schedule 1; and

            (b)         any company classified by proclamation under this section as an SBSA subsidiary;

"security" means—

            (a)         a mortgage, charge, lien, or pledge; or

            (b)         a guarantee; or

            (c)         any other security for, or instrument relating to, the payment of money or the discharge of any other liability;

"transfer period" means the period beginning on the commencement of this Act and ending when no further order for the transfer of assets or liabilities may be made under this Act (see section 7(2));

"transferred asset" means an asset transferred to BSAL (and not re-transferred to SBSA or an SBSA subsidiary) under Part 4 or a corresponding law;

"transferred liability" means a liability transferred to BSAL (and not re-transferred to SBSA or an SBSA subsidiary) under Part 4 or a corresponding law.

        (2)         The Governor may, by proclamation—

            (a)         fix a day as the appointed day for the purposes of this Act; and

            (b)         classify a company as an SBSA subsidiary for the purposes of this Act; and

            (c)         vary or revoke a proclamation under this subsection.

Note—

1         The appointed day has been fixed as 1 July 1994 (see Gazette 23.6.1994 p1784 ).