New South Wales Consolidated Acts

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED (NMRB) ACT 1991 - SECT 5

5 Vesting of undertaking

(1) On the appointed day the undertaking of NMRB is by virtue of this Act divested from NMRB and vested in ANZ.

(2) If any portion of the undertaking of NMRB cannot be vested in ANZ by virtue of this Act because transfer of that portion is governed otherwise than by the law of New South Wales, then NMRB must as soon as is practicable after the appointed day take all necessary steps for the purpose of securing that the portion is effectively transferred to ANZ.

(3) The production of a copy of this Act printed by the Government Printer is on and after the appointed day conclusive evidence in all courts and tribunals and proceedings of the transfer to and the vesting in ANZ of that part of the undertaking of NMRB affected by the operation of subsection (1).