Western Australian Current Acts

STATE BANK OF SOUTH AUSTRALIA (TRANSFER OF UNDERTAKING) ACT 1994 - SECT 12

12 .         Re-transfer of assets or liabilities

        (1)         The Treasurer may, with the concurrence of the South Australian Treasurer, by order in writing, re-transfer assets or liabilities (or both) from BSAL to SBSA or an SBSA subsidiary.

        (2)         An order under this section must be made within the transfer period.

        (3)         The re-transfer of a liability under this section operates to discharge BSAL from the liability.

        (4)         The provisions of this Act relating to transferred assets or liabilities apply in a reciprocal way in relation to assets or liabilities re-transferred under this section with such modifications and exclusions as are necessary in the context.