Victorian Consolidated Legislation

Financial Sector Reform (Victoria) Act 1999 - SECT 5

PART 2 REGISTRATION OF CERTAIN ENTITIES AS COMPANIES

Transferring financial institutions

5. Transferring financial institutions



(1) On the transfer date, each transferring financial institution of this
jurisdiction is taken, in accordance with Schedule 4 of the Corporations Law
of Victoria1, to become registered as a company under that Law under the name
under which the institution was registered under the previous governing Code
immediately before the transfer date.

(2) Subsection (1) applies even if the institution is an
externally-administered body corporate immediately before the transfer date.

(3) Registration under the Corporations Law of Victoria2 of a transferring
financial institution of this jurisdiction as a company does not create a new
legal entity.

(4) In this section, previous governing code and transferring financial
institution of this jurisdiction have the same respective meanings as they
have in Schedule 4 of the Corporations Law3.

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