FINANCIAL CORPORATIONS (TRANSFER OF ASSETS AND LIABILITIES) ACT 1993

PART 2 - GENERAL PROVISIONS  

SECTION 5  

5   TRANSFERRING AND RECEIVING CORPORATIONS  
If a financial corporation is proposing to transfer, or transfers, an asset or liability to another financial corporation, then, for the purposes of this Act;

(a) the first-mentioned corporation is the transferring corporation ; and

(b) the other corporation is the receiving corporation ;

in relation to the transfer.