Queensland Legislation
Queensland
CHALLENGE BANK (TRANSFER OF UNDERTAKING) BILL 1996
Queensland
oh
CHALLENGE BANK (TRANSFER OF UNDERTAKING) BILL 1996
TABLE OF PROVISIONS
Section
PART 1—PRELIMINARY 1 Short title 2.0... 2. eee eee 2 Commencement ......... 0.0000. 3 Definitions 2.0.0.0... cece eee 4 Act binds the Crown ........ 0... eee
PART 2—VESTING OF UNDERTAKING OF CHALLENGE IN WESTPAC
Division 1—Vesting and its general effect 5 Vesting of undertaking... 1.0.0.0... 6... 6 Effect of vesting on Challenge contracts ............... 000 e cece
Division 2—Other consequential effect of vesting
7 Application of division ........ 0.00... 8 Relationship between Challenge's customers and Westpac ........... 9 Instruction ete by Challenge's customer ............0.. 0000 eee eens
10 Security held by Challenge's customers ...............-000 eee eee 11 Transferred security—trights, liabilities and priorities.................
12 Custody of documents, goods etc held by Challenge.................
13 Negotiable instruments or orders .......... ccc cece eee eee eee 14 Information about customers ............ 0000s 15 Security over money on deposit... 0.6.0... cece eee eee eee
Division 3—Transitional period 16 Transition period end day to be advised by Minister .................
17 Business name "Challenge Bank Limited" ................-..00005-
Challenge Bank Limited (Transfer of Undertaking) 19212325272931 PART 3—GENERAL
Exemption from State taxes ........ 0... cee eee 11 Registering authorities to note transfers. ...........0...00..000 0.000. 12 Excluded assets transactions ........... 6.0000 e cece eee ee eee eens 12 Service of documents on Westpac and Challenge.................... 13 Legal proceedings ........... 0. cece cece eee teens 13 Amendment of document if Westpac erroneously made a party......... 14 Effect of things done or allowed under this Act ..................205. 15 Certificates in relation to charges and the Corporations Law ........... 15 Certificates evidencing operation of Act may be issued ............... 16 Evidence—books and documents ............... 0000 e cece e eee eens 16 Certificates as evidence ........ 0... c cece eee ees 17 Application of banking laws ........ 0.0.00. cece eee eee 17 Construction of references... 6.6.6.6 e cece eect eee 17 Application of Acts Interpretation Act 1954,s20A ................05. 17
We try to embed the page this law was scraped from. If the site blocks framing, you still get the link and a local excerpt.
Last checked with source on —
Checking whether the official page can be embedded…
Plain-English simplify of this law: a short summary, key points, and both sides of the argument. Generated on first view via Replicate, then cached. Vote on what helps your study.
No study brief is cached for this law yet. Sign up to generate a plain-English brief.
Sign up to generate