Victorian Current Acts Victorian Current Acts(1) Westpac must pay to the Treasurer in lieu of all taxes, duties and charges for which it would otherwise be liable under the law of the State as a result of, or in connection with, the transfer of the undertaking of Challenge so far as it is located in Victoria, to Westpac, a sum which is, in the opinion of the Treasurer, equal to the amount of those taxes, duties and charges.
(2) Bank of Melbourne must pay to the Treasurer in lieu of all taxes, duties and charges for which it would otherwise be liable under the law of the State as a result of, or in connection with, the transfer of the transferring undertaking to Bank of Melbourne a sum which is, in the opinion of the Treasurer, equal to the amount of those taxes, duties and charges.
(3) The amount payable under subsection (1) or (2) is to be determined by the Treasurer in accordance with such principles as the Treasurer thinks appropriate.
(4) The Treasurer is to give a certificate to Westpac when satisfied that the sum due under subsection (1) has been paid stating that the sum due under that subsection has been paid.
(5) The Treasurer is to give a certificate to Bank of Melbourne when satisfied that the sum due under subsection (2) has been paid stating that the sum due under that subsection has been paid.