Commonwealth Consolidated Acts

FINANCIAL CORPORATIONS (TRANSFER OF ASSETS AND LIABILITIES) ACT 1993 - SECT 9

    If:

  (a)   a financial corporation is proposing to transfer an asset or liability to another financial corporation; and

  (b)   apart from this Act, the transferring corporation or receiving corporation would be required (whether under an instrument or otherwise):

  (i)   to obtain the consent or approval of a third person in a particular respect; or

  (ii)   to give particular information to a third person;

    before effecting the transfer of the asset or liability;

the transfer may be validly effected without the consent or approval being obtained, or the information given, as the case requires.