New South Wales Consolidated Acts

WESTPAC BANKING CORPORATION (TRANSFER OF INCORPORATION) ACT 2000 - SECT 10

10 Relationship of this Act with Corporations legislation of the Commonwealth

(1) The regulations may declare a matter that is dealt with by this Act or the regulations (or that is of a savings or transitional nature consequent on Westpac’s registration as a public company limited by shares under the Corporations Act 2001 of the Commonwealth) to be an excluded matter for the purposes of section 5F of that Act in relation to:

(a) the whole of the Corporations legislation to which Part 1.1A of the Corporations Act 2001 of the Commonwealth applies, or

(b) a specified provision of that legislation, or

(c) that legislation other than a specified provision, or

(d) that legislation otherwise than to a specified extent.

Note: Section 5F of the Corporations Act 2001 of the Commonwealth provides that if a State law declares a matter to be an excluded matter for the purposes of that section in relation to all or part of the Corporations legislation of the Commonwealth, then the provisions that are the subject of the declaration will not apply in relation to that matter in the State concerned.

(2) Without limiting subsection (1), that subsection extends to any of the following matters:

(a) the use of the name Westpac Banking Corporation or the word “Limited” in Westpac company’s name after the registration date,

(b) the use of Westpac’s ARBN after the registration date,

(c) benefits given to a director of Westpac company in accordance with an agreement with the director on the terms referred to in Clause 56 (4B) of the deed of settlement,

(d) any buy-back of shares of Westpac that has not been completed by the registration date.

(3) The regulations may declare a relevant provision of this Act to be a Corporations legislation displacement provision for the purposes of section 5G of the Corporations Act 2001 of the Commonwealth (either generally or specifically in relation to a provision of the Corporations legislation to which Part 1.1A of the Corporations Act 2001 of the Commonwealth applies).

Note: Section 5G of the Corporations Act 2001 of the Commonwealth provides that if a State law declares a provision of a State law to be a Corporations legislation displacement provision, then any provision of the Corporations legislation with which the State provision would otherwise be inconsistent does not apply in the State concerned to the extent necessary to avoid the inconsistency.

(4) In this section:
"matter" includes act, omission, body, person or thing.
"relevant provision" of this Act means a provision that is:

(a) a post-commencement provision within the meaning of section 5G of the Corporations Act 2001 of the Commonwealth, or

(b) materially amended within the meaning of that section on or after the commencement of the Corporations Act 2001 of the Commonwealth if the amendment is enacted on or after that commencement.