New South Wales Consolidated Acts

WESTPAC BANKING CORPORATION (TRANSFER OF INCORPORATION) ACT 2000 - SECT 7

7 Irregularities concerning transfer resolutions

(1) A transfer resolution is not invalidated because of any procedural irregularity unless, on an application made under this section, the Supreme Court by order declares the resolution to be invalid (an "invalidity order").

(2) No fewer than 200 persons who were Westpac shareholders eligible to vote at the meeting at which the transfer resolution was passed may make an application to the Supreme Court in accordance with this section for an invalidity order.

(3) Such an application can only be made to the Supreme Court within the period of one month after the date of the passing of the transfer resolution.

(4) The Supreme Court must not make an invalidity order unless it is of the opinion:

(a) that the irregularity was not, or was not the result of, an accidental omission or non-receipt of a notice required under the deed of settlement, and

(b) that the irregularity has caused or may cause substantial injustice.

(5) If the Supreme Court makes an invalidity order in relation to a transfer resolution, any order made by the Attorney General under section 5A in relation to that resolution is taken to have no effect for the purposes of this Act.

(6) Rules of court (not inconsistent with this Act or the regulations) may be made under the Supreme Court Act 1970 for the purposes of this section. This subsection does not limit the rule-making powers conferred by the Supreme Court Act 1970 .

(7) In this section:

(a) a reference to a procedural irregularity includes a reference to:

(i) any defect, irregularity or deficiency of notice or time, and

(ii) any miscalculation of voting entitlements, and

(b) a reference to a transfer resolution includes a reference to a purported transfer resolution.