New South Wales Consolidated Acts

CANBERRA ADVANCE BANK LIMITED (MERGER) ACT 1992 - SECT 7

7 Vesting of undertaking

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

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

(3) The production of an official copy of this Act is on and after the appointed day conclusive evidence in all courts and tribunals and proceedings of the vesting in ABA of the undertaking of CAB.