Bank Mergers (Application of Laws) Act 1996 (NSW)

Bank Mergers (Application of Laws) Act 1996 No 64

An Act to make provision for extending the application in the State of laws of other States or Territories relating to the merger of banks, and for other purposes.

1 Name of Act This Act is the Bank Mergers (Application of Laws) Act 1996.

2 Commencement This Act commences on the date of assent.

3 Definitions In this Act: merger includes the acquisition of property and assets, and the assumption of liabilities, of a bank by another bank or the transfer of property and assets and liabilities of a bank to another bank. proclaimed law means a law of another State or Territory that is declared under this Act to be a law to which this Act applies.

4 Proclamations (1) The Governor may by proclamation declare a law of another State or Territory providing for or relating to the merger of banks to be a law to which this Act applies. (2) Such a proclamation may: (a) exclude specified provisions of the proclaimed law from the operation of this Act, and (b) modify the effect of specified provisions of the proclaimed law in their application under this Act, and (c) without limiting paragraph (b), supplement the provisions of the proclaimed law in their application under this Act with additional provisions that apply by virtue of this Act, and (d) provide that a requirement has been made under section 6. (3) A proclamation under this Act may be amended or repealed by a further proclamation. (4) A proclamation may be made in respect of a law of another State or Territory whether or not that law has commenced in that State or Territory.

Editorial note— For proclamations under this section, see Gazettes No 110 of 27.9.1996; No 137 of 29.11.1996 and No 46 of 1.5.1997, p 2423.