New South Wales Consolidated Acts

WESTPAC BANKING CORPORATION (TRANSFER OF INCORPORATION) ACT 2000 - SECT 5A

5A Order specifying registration date

(1) The Attorney General may, by order published in the Gazette, specify a day on which Westpac is to be taken to be registered as a public company limited by shares for the purposes of section 5H of the Corporations Act 2001 of the Commonwealth.

Day specified: 23.8.2002. See Gazette No 133 of 23.8.2002, p 6420.

(2) The Attorney General may make an order under subsection (1) only if the Attorney General is satisfied that:

(a) a transfer resolution has been passed by the shareholders of Westpac in accordance with the provisions of this Act, and

(b) the period of at least 1 month has elapsed since the date on which the resolution was passed, and

(c) an order declaring the resolution to be invalid has not been made by the Supreme Court under section 7 (1), and

(d) Westpac has complied with section 5H (2) and (3) of the Corporations Act 2001 of the Commonwealth within the prescribed period after the transfer resolution was passed.

(3) The Attorney General is to provide ASIC with a copy of an order made under this section as soon as practicable after it is issued to Westpac. However, a failure to provide such a copy does not affect the validity of the order.

(4) An order under this section cannot be challenged, reviewed or called into question in proceedings before any court or tribunal.

(5) An order under this section is conclusive evidence in any proceedings before a court or tribunal that all the requirements of this Act have been complied with concerning the registration of Westpac under the Corporations Act 2001 of the Commonwealth as a public company limited by shares.

(6) Nothing in subsection (4) or (5) affects the operation of section 7 in relation to an application made to the Supreme Court under that section for an order declaring a transfer resolution to be invalid.

(7) Nothing in this section prevents a further proposal for a transfer resolution being put to Westpac shareholders if:

(a) a previously proposed transfer resolution was not passed or was declared to be invalid by order of the Supreme Court under section 7 (1), or

(b) Westpac did not comply with section 5H (2) and (3) of the Corporations Act 2001 of the Commonwealth within the prescribed period in relation to a previous transfer resolution.

(8) In this section:
"prescribed period", in relation to a transfer resolution, means:

(a) in relation to a resolution passed on or after the commencement of Schedule 4.73 to the Corporations (Consequential Amendments) Act 2001 :

(i) except as provided by subparagraph (ii)-the period of 6 months (or such other period as may be prescribed by the regulations whether before or after the resolution is passed) after the date on which the resolution is passed, or

(ii) if an application for an order under section 7 (1) is duly made but is refused or withdrawn after the end of the period referred to in subparagraph (i)-the period of one month after the date on which the application is finally determined or withdrawn (as the case may be), or

(b) in relation to a transfer resolution of the kind referred to in section 6 (2)-the period that was the prescribed period in relation to that resolution for the purposes of section 5 of this Act as in force immediately before its repeal by the Corporations (Consequential Amendments) Act 2001 or such further period as may be prescribed by the regulations (whether before or after the expiry of the prescribed period).