Queensland Numbered Acts

STATE FINANCIAL INSTITUTIONS AND METWAY MERGER AMENDMENT ACT 2024 - SECT 10

10 Insertion of new pts 6A and 6B

After part 6 —
insert —

Part 6A - General obligations of Suncorp

69A Obligation to act consistently with mandatory constitution provisions Suncorp must at all times act in a manner that is consistent with the mandatory constitution provisions, whether or not Suncorp has modified its constitution to include the mandatory constitution provisions.

69B Obligation to maintain registration Suncorp must at all times—

(a) maintain its status as a company registered with ASIC; and

(b) refrain from doing any act or making any omission that would result in Suncorp ceasing to be registered as a company with ASIC.

69C Obligation to notify Treasurer of noncompliance

(1) This section applies if Suncorp becomes aware of an act or omission, or of a proposed act or omission, that is or would be inconsistent with an obligation under this part.

(2) Suncorp must immediately give the Treasurer written notice of the act or omission or of the proposed act or omission.

Part 6B - Application of particular provisions to entity acquiring Suncorp’s Australian business

69D Application of pts 6 and 6A

(1) This section applies if an entity acquires all, or substantially all, of Suncorp’s Australian business.

(2) Parts 6 and 6A apply in relation to the entity as if a reference to Suncorp were a reference to the entity.