Canberra Advance Bank Limited (Merger) Act 1992 (NSW)

Canberra Advance Bank Limited (Merger) Act 1992 No 17

An Act to supplement the Canberra Advance Bank Limited (Merger) Act 1992 of the Australian Capital Territory and to provide, in New South Wales, for the transfer of the undertaking of Canberra Advance Bank Limited to Advance Bank Limited and for other related purposes.

Preamble 1. Canberra Advance Bank Limited ACN 008 616 779 ("CAB") is a company incorporated in the Australian Capital Territory, is a company within the meaning of the Corporations Law of the Australian Capital Territory and is a company limited by shares. 2. Advance Bank Australia Limited ACN 002 953 335 ("ABA") is a company incorporated in New South Wales and is a company within the meaning of the Corporations Law of New South Wales and is a company limited by shares. 3. CAB is a wholly owned subsidiary of ABA. 4. ABA and CAB each carries on the business of banking in New South Wales and elsewhere in Australia. 5. It is expedient in the interests of banking efficiency that the banking business conducted by CAB should be transferred to ABA. 6. To vest the undertaking of CAB carried on in New South Wales in ABA it is expedient to enact the provisions set out below. The Legislature of New South Wales therefore enacts

Part 1 Preliminary

1 Name of Act This Act may be cited as the Canberra Advance Bank Limited (Merger) Act 1992.

2 Commencement This Act commences on the date of assent.

3 Definitions In this Act: ABA means Advance Bank Australia Limited. appointed day means the day appointed under section 5. CAB means Canberra Advance Bank Limited. Chief Executive Officer, in relation to ABA, means the officer in charge of the day to day management of the affairs of that bank or a person appointed by him or her in writing. land includes any estate, interest or right (whether legal or equitable) in, over or under any real or leasehold property. liabilities includes duties and obligations of every description, whether actual, contingent or prospective, but does not include any liability to the extent to which it is not related to the undertaking of CAB. property means property and assets of every description, and includes securities, rights and powers of every description. security includes a mortgage (whether legal or equitable), charge (whether legal or equitable), debenture, bill of exchange, promissory note, guarantee, indemnity, lien, pledge, bill of sale or other means of securing the payment of a debt, whether present or future, or the discharge of an obligation or liability, whether actual, contingent or prospective.