Commonwealth Consolidated Acts

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FINANCIAL SECTOR (TRANSFER AND RESTRUCTURE) ACT 1999 - SECT 25A

Ministerial declaration that compulsory transfer should occur in relation to ADI

  (1)   The Minister may declare, in writing given to APRA, that:

  (a)   a transfer of business should occur from a specified ADI to another specified body corporate; or

  (b)   a transfer of shares in a specified ADI to another specified body corporate should occur; or

  (c)   either:

  (i)   a transfer of business should occur from a specified ADI to another specified body corporate; or

  (ii)   a transfer of shares in a specified ADI to another specified body corporate should occur.

  (2)   A declaration made under subsection   (1) is not a legislative instrument.


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