Victorian Current Acts

STATE BANK (SUCCESSION OF COMMONWEALTH BANK) ACT 1990 - SECT 20

    (1)     No liability attaches to a person who was—

        (a)     was a director or officer of the State Bank; or

        (b)     was a director of a related corporation who was nominated or appointed to the office by the State Bank—

        for any act or omission done or made, in good faith, and in carrying out, or purporting to carry out, the duties of his or her office as such a director or officer.

    (2)     Any liability that, but for the enactment of this Act, would have attached to the State Bank under section 49(2) of the State Bank Act 1988 , attaches instead to the State.