State Bank of South Australia (Transfer of Undertaking) Act 1994 (WA)

Western Australia State Bank of South Australia (Transfer of Undertaking) Act 1994 Western Australia State Bank of South Australia (Transfer of Undertaking) Act 1994 Contents 1. Short title 1 2. Commencement 1 3. Terms used in this Act 1 4. Act binds the Crown 3 5. Transfer of assets and liabilities to BSAL 3 6. Conditions of transfer 4 7. Transitional provisions 4 8. Direct payment orders to accounts transferred to BSAL 7 9. Registering authorities to note transfer 7 10. Exclusion of obligation to enquire 8 11. Caveat in respect of land not transferred to BSAL 8 12. Re‑transfer of assets or liabilities 9 13. Evidence 9 14. Transfer of staff 9 15. Act overrides other laws 10 16. Effect of things done or allowed under Act 10 Notes Compilation table 11 Defined terms Western Australia State Bank of South Australia (Transfer of Undertaking) 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.

1. Short title This Act may be cited as the State Bank of South Australia (Transfer of Undertaking) Act 1994 1.

2. Commencement This Act comes into operation on the day on which it receives the Royal Assent 1.

3. Terms used in this Act In this Act — appointed day means a day fixed as the appointed day by proclamation under the South Australian Act; asset means property including property held in a fiduciary capacity; BSAL means the public company with the name "Bank of South Australia Limited" formed under the Corporations Law; CEO of BSAL means the chief executive officer of BSAL (however described) or a delegate of the chief executive officer; corresponding law means the South Australian Act or a law of another State or a Territory providing for the transfer of assets and liabilities between — (a) SBSA or SBSA subsidiaries; and (b) BSAL; document includes any disc, tape or other medium in which information is stored; guarantee includes indemnity; instrument includes a legislative instrument and a judgment, order or process of a court; legal proceedings includes an arbitration and an administrative proceeding; liability means a present, future or contingent liability (arising either at law or in equity) and includes a duty or non‑pecuniary obligation; property means real or personal property and includes — (a) a chose in action; and (b) a present, future or contingent right, privilege, interest or power; SBSA means the State Bank of South Australia or, according to the context, that body as continued in existence under the name the "South Australian Asset Management Corporation"; SBSA subsidiary means any company specified in, or classified by proclamation under, the South Australian Act as an SBSA subsidiary; security means — (a) a mortgage, charge, lien, or pledge; or (b) a guarantee; or (c) any other security for, or instrument relating to, the payment of money or the discharge of any other liability; South Australian Act means the State Bank (Corporatisation) Act 1994 of South Australia, as amended from time to time; South Australian Treasurer means the Treasurer of South Australia, and includes, in relation to a particular power or function under this Act, a Minister of the Crown in right of South Australia exercising or performing the power or function by delegation of the Treasurer of South Australia; transfer period means the transfer period within the meaning of the South Australian Act; transferred asset means an asset transferred to BSAL (and not re‑transferred to SBSA or an SBSA subsidiary) under this Act or a corresponding law; transferred liability means a liability transferred to BSAL (and not re‑transferred to SBSA or an SBSA subsidiary) under this Act or a corresponding law; Treasurer means the Treasurer of this State.