New South Wales Consolidated Acts

WESTPAC BANKING CORPORATION (TRANSFER OF INCORPORATION) ACT 2000 - SECT 6

6 What is a transfer resolution?

(1) For the purposes of this Act, a "transfer resolution" is a special resolution (within the meaning of the deed of settlement) passed by Westpac shareholders that resolves that Westpac be registered as a public company limited by shares under the Corporations Act 2001 of the Commonwealth.

(2) Any special resolution (within the meaning of the deed of settlement) passed by Westpac shareholders that was a transfer resolution within the meaning of this section as in force immediately before the commencement of this subsection is taken to be a transfer resolution for the purposes of subsection (1).

Note: Clause 117 (r) of the deed of settlement defines “special resolution” to be a resolution that has been passed by a majority of not less than three-quarters of the votes of such of the shareholders of Westpac as are entitled so to vote in person, by proxy or by a representative at a general meeting of which not less than 21 days’ notice specifying the intention to propose the resolution as a special resolution has been duly given.