Commonwealth Numbered Acts

COMMONWEALTH BANKS AMENDMENT ACT 1993 No. 46 of 1993 - SECT 9

9. Section 74A of the Principal Act is amended:

   (a)  by inserting after subsection (10) the following subsection:

"(10A) The Treasurer may direct the Development Bank to issue to the
Commonwealth a specified number of shares in the capital in the Development
Bank. If the Treasurer so directs and the Commonwealth pays to the Development
Bank, as subscription money in respect of the shares, an amount agreed between
the Treasurer and the Board:

   (a)  the shares are taken to have been issued by the Development Bank to
        the Commonwealth; and

   (b)  the Commonwealth holds the shares as legal and beneficial owner.";
(b) by inserting in subsection (12) "or the Commonwealth" after "Commonwealth
Bank".