Financial Sector (Transfer and Restructure) Act 1999

PART 4 - COMPULSORY TRANSFERS  

Division 2 - Compulsory transfer determinations  

SECTION 29   MINISTER ' S POWER TO DECIDE THAT HIS OR HER CONSENT IS NOT REQUIRED  

29(1)    
The Minister ' s consent to a transfer of business (see paragraph 25(2)(g) ) or a transfer of shares (see paragraph 25AA(3)(c) ) is not required if the Minister has, in writing, determined that his or her consent is not required in relation to:

(a) the transfer; or

(b) a class of transfers that includes the transfer.

29(2)    
A determination made under paragraph (1)(a) is not a legislative instrument.

29(3)    
A determination made under paragraph (1)(b) is a legislative instrument.