Financial Sector (Transfer and Restructure) Act 1999

PART 4A - RESTRUCTURES  

Division 4 - Internal transfer certificates  

SECTION 36L  

36L   WHAT IS AN INTERNAL TRANSFER CERTIFICATE?  
An internal transfer certificate is a certificate, issued by APRA under section 36M for the purpose of giving effect to a restructure arrangement described in a restructure approval, giving effect to:

(a) if the restructure arrangement is covered by subparagraph 36B(1)(b)(i) - the transfer of specified assets and liabilities between any 2 of the following bodies (including a transfer between any 2 subsidiaries of the NOHC that is the subject of the restructure arrangement):

(i) the NOHC;

(ii) the operating body;

(iii) any other subsidiary of the NOHC; or

(b) if the restructure approval relates to a restructure arrangement covered by subparagraph 36B(1)(b)(ii) - the transfer of specified assets and liabilities between any 2 of the following bodies (including a transfer between any 2 related bodies corporate of the operating body):

(i) the operating body;

(ii) a related body corporate of the operating body.

Note:

The assets or liabilities may be specified by reference to a class or classes of assets or liabilities - see subsection 33(3A) of the Acts Interpretation Act 1901 .