Commonwealth Consolidated Acts

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

    An internal transfer certificate is a certificate, issued by APRA under section   36M for the purpose of giving effect to a restructure arrangement described in a restructure approval, giving effect to:

  (a)   if the restructure arrangement is covered by subparagraph   36B(1)(b)(i)--the transfer of specified assets and liabilities between any 2 of the following bodies (including a transfer between any 2 subsidiaries of the NOHC that is the subject of the restructure arrangement):

  (i)   the NOHC;

  (ii)   the operating body;

  (iii)   any other subsidiary of the NOHC; or

  (b)   if the restructure approval relates to a restructure arrangement covered by subparagraph   36B(1)(b)(ii)--the transfer of specified assets and liabilities between any 2 of the following bodies (including a transfer between any 2 related bodies corporate of the operating body):

  (i)   the operating body;

  (ii)   a related body corporate of the operating body.

Note:   The assets or liabilities may be specified by reference to a class or classes of assets or liabilities--see subsection   33(3A) of the Acts Interpretation Act 1901 .