Financial Sector (Transfer and Restructure) Act 1999
PART 3
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VOLUNTARY TRANSFERS
Division 3
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Process by which voluntary transfers take effect
SECTION 19
19
PARTIAL TRANSFER
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STATEMENT OF DETAIL TO BE PROVIDED
If the transfer is a partial transfer, before APRA issues a certificate of transfer in relation to the transfer, APRA must be provided with a written statement:
(a) that lists, in detail, the assets and liabilities of the transferring body that are to be transferred to the receiving body; and
(b) that APRA is satisfied has been agreed to by the transferring body and the receiving body.
If the transfer is a partial transfer, before APRA issues a certificate of transfer in relation to the transfer, APRA must be provided with a written statement:
(a) that lists, in detail, the assets and liabilities of the transferring body that are to be transferred to the receiving body; and
(b) that APRA is satisfied has been agreed to by the transferring body and the receiving body.
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