Western Australian Current Acts Western Australian Current Acts In this Act —
Challenge means Challenge Bank Limited (ACN: 009
230 433);
Challenge employee means a person employed by
Challenge immediately before the commencement time;
Chief Executive Officer , in relation to a bank,
means the officer in charge of the day to day management of the affairs of
that bank or a person appointed by that officer in writing;
commencement time means the time referred to in
subsection (1) of section 2 on the day fixed by proclamation under that
subsection;
excluded assets means —
(a) any
document required to be kept by Challenge under the Corporations Law or any
other law;
(b)
shares held by Challenge in —
(i)
CBL Financial Services Ltd (ACN: 009 340 390);
(ii)
CBL Securities Ltd (ACN: 009 124 341);
(iii)
Challase Pty Ltd (ACN: 059 339 641);
(iv)
Challenge Finance Limited (ACN: 000 032 735);
(v)
Challenge Funds Management Ltd (ACN: 009 065 990);
(vi)
Challenge Information Technology Pty Ltd (ACN: 007 258
488);
(vii)
Challenge Insurance Services (Agency) Pty Ltd (ACN: 009
086 444);
(viii)
Cold Storage Construction Pty Ltd (ACN: 001 122 005);
(ix)
Herston Pty Ltd (ACN: 009 041 650);
(x)
National Permanent Management Services Pty Ltd (ACN: 009
076 653);
(xi)
Olsona Ltd (ACN: 003 409 756);
(xii)
Westman Enterprises Pty Ltd (ACN: 008 915 099);
(c)
units held by Challenge in National Permanent Property Trust, a trust created
by a deed dated 21 August 1982 between Herston Pty Ltd and National Permanent
Funds Management Pty Ltd;
(d) the
Challenge logo registered under the Trade Marks Act 1995 of the Commonwealth
as a trade mark in classes 16, 36 and 39 under numbers A486912, A486911 and
A486910 respectively;
(e) the
trade mark “Challenge” registered under the Trade Marks Act 1995
of the Commonwealth as a trademark in class 36 under number A533638; and
(f) such
other assets as are listed in a certificate signed by the Chief Executive
Officer of Westpac and received by the Treasurer before the commencement time;
land includes any estate, interest or right
(whether legal or equitable) in, over or under any real or leasehold property;
liabilities includes duties, obligations and
incidents of every description, whether actual, contingent or prospective, but
does not include any duty, obligation or incident relating to an excluded
asset;
property means property and assets of every
description, and includes securities, rights and powers of every description;
register includes a book of registry and an index
relating to registration;
security includes a mortgage (whether legal or
equitable), charge, debenture, bill of exchange, promissory note, guarantee,
lien, pledge or other means of securing the payment of a debt, whether present
or future, or the discharge of an obligation or liability, whether actual or
contingent;
transition period means the period beginning at
the commencement time and ending —
(a) 4
months later; or
(b) on
such later day as, at the request of the Chief Executive Officer of Westpac,
is approved in writing by the Minister responsible for the administration of
the Credit Act 1984 ;
Treasurer means the Treasurer of the State;
undertaking of Challenge means the business and
all of the property of Challenge (except any excluded assets and any right or
power of Challenge relating to any excluded assets) vested in or belonging to
or held by that bank immediately before the commencement time and all of the
liabilities to which that bank is subject immediately before the commencement
time;
Victorian Act means the
Westpac and Bank of Melbourne (Challenge Bank) Act 1996 of the Parliament of
Victoria;
Westpac means Westpac Banking Corporation (ARBN:
007 457 141);
Westpac employee means a person employed by
Westpac in Western Australia immediately before the commencement time and who
will be employed by Challenge at the commencement time as a result of
section 10(1).