New South Wales Consolidated Acts

STATE BANK (CORPORATISATION) ACT 1989 - SECT 11

11 Dissolution of State Bank and State Bank Board

(1) The State Bank is dissolved.

(2) The State Bank Board is dissolved.

(3) A person holding office as a director of the State Bank Board immediately before its dissolution:

(a) ceases to hold that office, and

(b) except as provided by subsection (4), is not entitled to any remuneration or compensation because of the loss of that office.

(4) Part 8 of the Public Sector Management Act 1988 applies to a person who so ceases to hold office as a director of the State Bank Board, without immediately being appointed to the service of the Corporation or a subsidiary of the Corporation, in the same way as it applies to a person removed from office under that Part.