New South Wales Consolidated Acts

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED (NMRB) ACT 1991 - SECT 29

29 Leases, licences and other agreements

(1) Where, under the provisions of a lease, licence or other agreement, NMRB or NMR Savings Bank has rights in respect of the occupation or use of land, those rights may, notwithstanding that there has been no assignment, transfer, underletting or other disposition by NMRB or NMR Savings Bank, be exercised by ANZ or ANZ Savings Bank.

(2) For the purposes of a lease, licence or other agreement relating to the occupation or use of land, NMRB or NMR Savings Bank does not part with possession of land by permitting ANZ or ANZ Savings Bank to exercise rights under subsection (1) in respect of the land.