THE CORPORATIONS LAW

SCHEDULES

SCHEDULE 4

TRANSFER OF FINANCIAL INSTITUTIONS AND FRIENDLY SOCIETIES

Note:

See section 1465A.

PART 2 - TRANSFER TO CORPORATIONS LAW REGISTRATION

Division 1 - The transfer process

ASIC to complete formalities of registration  

7(1) 

As soon as practicable after a transferring financial institution of this jurisdiction is registered as a company under clause 3, ASIC must:

(a)  give the company an ACN; and

(b)  keep a record of the company's registration; and

(c)  issue a certificate to the company that states:

(i) the company's name; and

(ii) the company's ACN; and

(iii) the company's type; and

(iv) that the company is registered as a company under the Corporations Law of this jurisdiction; and

(v) the transfer date as the date of registration.

Note:

For the evidentiary value of a certificate of registration, see subsection 1274(7A).

7(2) 

If:

(a)  the company is registered with a name that does not include ``Limited'' or ``Proprietary Limited'' (as the type of company requires), or an acceptable abbreviation; and

(b)  the company is not exempt from the requirement to use that word or those words in its name by or under section 150 or 151;

ASIC may change the company's name so that it includes the required words by altering the details of the company's registration to reflect that change.

Note:

For acceptable abbreviations see section 149.

7(3) 

Subsections 1274(2) and (5) apply to the record of the company's registration referred to in paragraph (1)(b) as if they were a document lodged with ASIC.