The Commercial Bank of Australia Limited (Merger) Act 1982 (NSW)

The Commercial Bank of Australia Limited (Merger) Act 1982 No 33

An Act to make provision for the transfer to Bank of New South Wales of the undertaking of The Commercial Bank of Australia Limited, and for the transfer to Bank of New South Wales Savings Bank Limited of the undertaking of The Commercial Savings Bank of Australia Limited; and for other purposes. WHEREAS: (1) By the Bank of New South Wales Act of 1850 there was incorporated a body politic and corporate in name and in deed by the name "Bank of New South Wales": (2) The Commercial Bank of Australia Limited became on or about 12 February 1982 a wholly owned subsidiary of Bank of New South Wales in consequence of action under Part VIB of the Companies Act 1961 of Victoria: (3) The Commercial Savings Bank of Australia Limited is a wholly owned subsidiary of The Commercial Bank of Australia Limited and Bank of New South Wales Savings Bank Limited is a wholly owned subsidiary of Bank of New South Wales: (4) It is expedient in the interests of banking efficiency that the banking business conducted by The Commercial Bank of Australia Limited should be transferred to Bank of New South Wales and that the banking business conducted by The Commercial Savings Bank of Australia Limited should be transferred to Bank of New South Wales Savings Bank Limited and that the transfers be effected by Act of Parliament: (5) To vest the undertakings of The Commercial Bank of Australia Limited and The Commercial Savings Bank of Australia Limited carried on in New South Wales in Bank of New South Wales and Bank of New South Wales Savings Bank Limited respectively, it is expedient to enact the provisions set out herein: BE it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled, and by the authority of the same, as follows: