Commonwealth Numbered Acts

FINANCIAL SECTOR (TRANSFERS OF BUSINESS) ACT 1999No. 45, 1999 - SECT 4

ADI (authorised deposit-taking institution) means a body corporate that is an ADI for the purposes of the Banking Act 1959 .

approved section 20 statement means a statement given to APRA under subsection 20(1) in relation to which an approval under subsection 20(2) is in force.

approved section 30 statement means a statement given to APRA under subsection 30(1) in relation to which an approval under subsection 30(2) is in force.

APRA means the Australian Prudential Regulation Authority.

APRA board member means a member of APRA's board of management, including APRA's Chair and Chief Executive Officer.

APRA staff member has the same meaning as in the Australian Prudential Regulation Authority Act 1998 .

asset means property, or a right, of any kind, and includes:

(a) any legal or equitable estate or interest (whether present or future, vested or contingent, tangible or intangible, in real or personal property) of any kind; and

(b) any chose in action; and

(c) any right, interest or claim of any kind including rights, interests or claims in or in relation to property (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing); and

(d) any asset within the meaning of Part IIIA of the Income Tax Assessment Act 1936 .

business in relation to a body, includes the assets and liabilities of the body.

certificate of transfer :

(a) in relation to a voluntary transfer--means a certificate issued under section 18; and

(b) in relation to a compulsory transfer--means a certificate issued under section 33.

established --a body is established in a State or Territory if:

(a) it is registered under the Corporations Law of that State or Territory; or

(b) it is otherwise established by or under a law of that State or Territory.

interest , in relation to land, includes:

(a) a legal or equitable estate or interest in the land; or

(b) a right, power or privilege over, or in relation to, the land.

life insurance company means a body corporate that is registered under the Life Insurance Act 1995 .

partial transfer has the meaning given by subsection 8(2).

receiving body means a body to which another body is to transfer, or has transferred, business under this Act.

regulated body means a body corporate that is:

(a) an ADI; or

(b) a life insurance company.

(a) for a body that is an ADI--the body's banking business (within the meaning of the Banking Act 1959 ); or

(b) for a body that is a life insurance company--the body's life insurance business (within the meaning of the Life Insurance Act 1995 ).

(a) for a body that is an ADI--the Banking Act 1959 , including any regulations or other instruments made under that Act, or conditions imposed under that Act; or

(b) for a body that is a life insurance company--the Life Insurance Act 1995 , including any regulations or other instruments made under that Act, or conditions imposed under that Act.

total transfer has the meaning given by subsection 8(3).

transferred asset , in relation to a receiving body, means an asset that has become, under this Act, an asset of the receiving body.

transferred liability , in relation to a receiving body, means a liability that has become, under this Act, a liability of the receiving body.

transferring body means a body that is to transfer, or has transferred, business under this Act.

transfer rules means rules in force under section 46.

voluntary transfer approval means an instrument of approval under section 11.

(2) APRA may, in writing, authorise a person who is an APRA board member, or an APRA staff member, to perform or exercise the functions or powers of an authorised APRA officer under a particular provision of this Act.