New South Wales Consolidated Acts

STATE BANK OF SOUTH AUSTRALIA (TRANSFER OF UNDERTAKING) ACT 1994 - SECT 9

9 Registering authorities to note transfer

(1) The Registrar-General or any other authority required or authorised under a law of the State to register or record transactions affecting assets or liabilities, or documents relating to such transactions:

(a) must on the application of BSAL, lodged in registrable form, register or record in the appropriate manner the transfer to BSAL of any transferred asset or liability, and

(b) must register an instrument in registrable form, executed by BSAL, relating to property that is a transferred asset even though BSAL is not registered as the proprietor of the property, subject to subsection (3).

(2) If property is registered in the name of SBSA or a SBSA subsidiary, the Registrar-General or other registering authority may register a dealing with the property by the body corporate in whose name the property is registered or by BSAL without being concerned to inquire whether the property is or is not a transferred asset.

(3) The Registrar-General is not required to register an instrument referred to in subsection (1) (b) if the Registrar-General has been given evidence that the property has ceased to be that of BSAL.