(1) Subject to
subsection (2), at the commencement time the Commissioner (within the meaning
of the Business Names Act 1962 ) is to register each business name listed in
Schedule 1 as a business name of Westpac and for as long as each name is
registered in relation to Westpac, Westpac is entitled to carry on business
under that name, in accordance with the Business Names Act 1962 , and may also
carry on the same or a similar business under a different business name or
names or its own name in the State.
(2) Before the
registration of each business name listed in Schedule 1 Westpac is to make
application under the Business Names Act 1962 for registration of that name
and is to comply with all relevant provisions of that Act relating to that
application.
(3) In addition to any
other names under which it is entitled to carry on business in the State,
during the transition period Westpac may carry on business in the State under
the business name “Challenge Bank Limited” as if that name was
registered under the Business Names Act 1962 as a business name of Westpac.