New South Wales Consolidated Acts

BANK MERGERS ACT 1996 - SECT 3

3 Object

(1) The object of this Act is to facilitate the merger of 2 or more banks and to enable regulations to be made for that purpose.

(2) For the purposes of this Act, a merger includes any transaction by which a bank acquires another bank, either by the transfer of the whole or part of the undertaking of the other bank, or by becoming the successor in law of the other bank, or by other means.