Commonwealth Consolidated Acts

BANK INTEGRATION ACT 1991 - SECT 7

  (1)   Where, having regard to Commonwealth Government policy concerning integration of banks, a receiving bank (other than BNZ) and the relevant transferring bank agree to seek the statutory vesting of the business of the transferring bank in the receiving bank, the receiving bank may give notice in writing of their agreement:

  (a)   to the Reserve Bank; and

  (b)   to the Treasurer.

  (2)   Where, having regard to Commonwealth Government policy concerning integration of banks, BNZ and BNZ Savings agree to seek the statutory vesting of the business of BNZ Savings that relates to its Australian operations in BNZ, BNZ may give notice in writing of their agreement:

  (a)   to the Reserve Bank; and

  (b)   to the Treasurer.