Financial Sector (Transfer and Restructure) Act 1999

PART 4 - COMPULSORY TRANSFERS  

Division 2 - Compulsory transfer determinations  

SECTION 25A   Ministerial declaration that compulsory transfer should occur in relation to ADI  

25A(1)    
The Minister may declare, in writing given to APRA, that:

(a) a transfer of business should occur from a specified ADI to another specified body corporate; or

(b) a transfer of shares in a specified ADI to another specified body corporate should occur; or

(c) either:

(i) a transfer of business should occur from a specified ADI to another specified body corporate; or

(ii) a transfer of shares in a specified ADI to another specified body corporate should occur.

25A(2)    
A declaration made under subsection (1) is not a legislative instrument.