State Bank (Corporatisation) Act 1994 (SA)

South Australia State Bank (Corporatisation) Act 1994 An Act to provide for the transfer of part of the undertaking of the State Bank of South Australia to a company formed to carry on the business of banking under the law of the Commonwealth; and for other purposes.

Contents Part 1—Preliminary 1 Short title 3 Interpretation 4 Territorial application of Act Part 2—Provision of capital to BSAL 5 Capital subscription etc Part 3—BSAL's relationship with Crown 6 Relationship with Crown Part 4—Transfer of assets and liabilities to BSAL 7 Transfer of assets and liabilities to BSAL 8 Conditions of transfer 9 Transferred assets free of statutory trust in favour of Crown 10 Indemnity if transfer and discharge of liability not recognised under other law 11 Transitional provisions 12 Direct payment orders to accounts transferred to BSAL 13 Registering authorities to note transfer 14 Exclusion of obligation to enquire 15 Caveat in respect of land not transferred to BSAL 16 Re-transfer of assets or liabilities 17 Stamp and other duties or taxes 18 Evidence Part 5—Staff 19 Transfer of staff Part 6—Guarantee 20 Government guarantee Part 7—Reference of banking power to Commonwealth 21 Reference of banking power to Commonwealth Part 8—Miscellaneous 22 Exemption from stamp duty etc 23 Dissolution of SBSA subsidiaries 24 Act overrides other laws 25 Effect of things done or allowed under Act 26 Regulations Schedule 1—SBSA subsidiaries Schedule 2—Superannuation 1 Definitions 2 Bank of South Australia Superannuation Fund 3 South Australian Asset Management Corporation Superannuation Fund 4 BSAL Fund members not transferred to BSAL 5 SAAMC Fund members transferred to BSAL 6 Fixed establishment officers 7 Superannuation Act and State Scheme contributors 8 Amount of payment on behalf of State Scheme contributor to complying superannuation fund 9 Supplementary contribution where State Scheme contributor elects prior to 31 December 1994 10 Retrenchment benefits for State Scheme contributors 11 Retrenchment pension for old scheme State Scheme contributors 12 Additional retrenchment lump sum for old scheme State Scheme contributors 13 Extra lump sum payable on retrenchment of State Scheme contributors before 30 June 1997 14 Non-entitlement to receive immediate benefit Schedule 3—Consequential amendments to State Bank of South Australia Act 1983 1 Interpretation 25 Expiry of certain provisions Legislative history