Commonwealth Consolidated Acts

FINANCIAL SECTOR (TRANSFER AND RESTRUCTURE) ACT 1999 - SECT 36E

Imposition of conditions

  (1)   A restructure approval may impose conditions of any of the following kinds, to be satisfied by the operating body or any related body corporate, or any body corporate that is to be a related body corporate pursuant to the arrangement:

  (a)   conditions to be satisfied before the restructure instrument comes into force (see section   36H);

  (b)   conditions to be satisfied before any transfer pursuant to an internal transfer certificate comes into force in respect of any particular asset or liability (see section   36Q).

Amendment or revocation of conditions

  (2)   The operating body may apply in writing to the Minister to have a condition that applies to it (or any other body corporate) amended or revoked.

  (3)   The Minister may, by notice in writing given to the operating body, approve the amendment or revocation if it is satisfied that the amendment or revocation is appropriate, having regard to the matters mentioned in paragraphs 36C(1)(b) and (c).

  (4)   An amendment or revocation that is approved by the Minister has effect in accordance with the notice under subsection   (3).