The Bank of Adelaide (Merger) Act 1980 (NSW)

THE BANK OF ADELAIDE (MERGER) ACT, 1980

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An Act to supplement by legislation of the State of New South Wales The Bank of Adelaide (Merger) Act, 1980, of the State of South Australia, which provides for the transfer to Australia and New Zealand Banking Group Limited of the undertaking of The Bank of Adelaide, and for the transfer to Australia and New Zealand Savings Bank Limited of the undertaking of The Bank of Adelaide Savings Bank Limited; and for other purposes connected therewith. [Assented to, 30th September, 1980.]

Preamble.

Short title.

Act, 1980.

The Bank of Adelaide (Merger).

WHEREAS:

(1) The Bank of Adelaide became a wholly owned subsidiary of the Australia and New Zealand Banking Group Limited in pursuance of a scheme of arrangement under the provisions of the Companies Act, i962 (as amended) of the State of South Australia having effect from 30th November, 1979:

(2) The Bank of Adelaide Savings Bank Limited is a wholly owned subsidiary of The Bank of Adelaide and Australia and New Zealand Savings Bank Limited is a wholly owned subsidiary of Australia and New Zealand Banking Group Limited:

(3) It is expedient in the interests of banking efficiency that the banking business conducted by The Bank of Adelaide shouid be transferred to Australia and New Zealand Banking Group Limited and the banking business conducted by The Bank of Adelaide Savings Bank Limited shouid be transferred to the Australia and New Zealand Savings Bank Limited and that the transfers be effected by Act of Parliament:

(4) By The Bank of Adelaide (Merger) Act, 1980, of the State of South Australia, provision is made for the vesting in Australia and New Zealand Banking Group Limited of the undertaking of The Bank of Adelaide and for the vesting in Australia and New Zealand Savings Bank Limited of the undertaking of The Bank of Adelaide Savings Bank Limited: