The Australian Bank of Commerce, Limited, Act 1911 (NSW)

Act, 1911. 17

The Australian Bank of Commerce, Limited. -

An Act to apply the provisions of Part V of the jie Avemeassan

Banx or ComMERCE,

Companies Act, 1899, to The Australian Bank ~ ion. of Commerce, Limited. [15th November, 1911. ]

NHEREAS The Australian Joint Stock Bank, Limited (herein- Preamble.

after referred to as "The Old Bank") was incorporated in the year one thousand eight hundred and ninety-three under the Companies Act, and up to the date of the resolution hereinafter referred to confirming the resolution, also hereinafter referred to, for the voluntary winding-up of The Old Bank, was carrying on the business of Banking in the State of New South Wales and else- where: And whereas, by the memorandum of association of The Old Bank, it was declared that one of the objects of The Old Bank was to sell the business and undertaking of 'he Old Bank, or any part thereof, to any other Company, whether formed in New South Wales or elsewhere, established for purposes altogether or in part similar to those of The Old Bank; and to receive and accept payment for the same in cash or in shares (treated as either wholly or partly paid-up) or stock, inscribed deposit stock, debentures, or other securities of such other Company, or partly in cash and partly in shares, stock, inscribed deposit stock, debentures, or other securities of such other Company, or in such other manner as The Old Bank might deem expedient; and to distribute any of the property of The Old Bank (including any shares or stock, inseribed deposit stock, debentures, or other securities received as the consideration for any such sale as aforesaid) amongst the members of The Old Bank: And whereas The Australian Bank of Commerce, Limited (hercinafter referred to as "The New Bank'') was incorporated on the Ninth day of September, in the year one thousand nine hundred and nine, under the Companics Act, 1899, and is now carrying on the business of banking in the State of New South Wales and clsewhere: And whercas by the Memorandum of Association of The New Bank it was declared that one of the objects for which The New Bank was established was to purchase or otherwise acquire, either at one time or from time to time, all or any part of the business undertaking and liabilities of The Old Bank, and either subject to or freed and discharged from any charge thereon, whether absolute or contingent, and cither for cash or for shares (treated as either wholly or partly paid-up), or for debentures, inscribed deposits, inscribed stock, deposit receipts, or other securitics of The New Bank, or partly for cash and partly for shares (treated as either wholly or partly paid-up) debentures, inscribed deposits, inscribed stock, deposit receipts, or other securities of 'he New Bank, or in such other manner as The New Bank might deem expedient; and in particular to execute, with or without