New South Wales Consolidated Acts

STATE BANK OF SOUTH AUSTRALIA (TRANSFER OF UNDERTAKING) ACT 1994 - SECT 11

11 Re-transfer of assets or liabilities

(1) The New South Wales Treasurer may, with the concurrence of the South Australian Treasurer, by order in writing, re-transfer assets or liabilities (or both) from BSAL to SBSA or a SBSA subsidiary.

(2) An order under this section must be made within the transfer period.

(3) The re-transfer of a liability under this section operates to discharge BSAL from the liability.

(4) The provisions of this Act relating to transferred assets or liabilities apply in a reciprocal way in relation to assets or liabilities re-transferred under this section with such modifications and exclusions as are necessary in the context.