New South Wales Consolidated Acts

STATE BANK (PRIVATISATION) ACT 1994 - SECT 24

24 Re-establishment of Bank as a SOC

(1) If this Part takes effect on or after the appointed day, the Governor may by proclamation appoint a date on which subsections (2) and (3) operate. Such a proclamation may be made only if the Minister certifies to the Governor that:

(a) all the shares in the Bank are held by or on behalf of the State, and

(b) the memorandum and articles of association of the Bank and its subsidiaries conform to the relevant requirements of the State Owned Corporations Act 1989 or will conform to them when the proclamation takes effect.

(2) On the date so appointed, the State Owned Corporations Act 1989 is amended by inserting at the end of Schedule 1 the words “State Bank of New South Wales Limited”. That Act then applies to the Bank and any subsidiary of the Bank.

(3) On the date so appointed, such of the amendments set out in Schedules 1 and 2 to this Act as are specified in the proclamation are revoked. Revocation of such an amendment has the effect of restoring an amended Act to its form as it was before the amendment.