FINANCIAL CORPORATIONS (TRANSFER OF ASSETS AND LIABILITIES) ACT 1993
If:
(a) a financial corporation is proposing to transfer an asset or liability to another financial corporation; and
(b) apart from this Act, the transferring corporation or receiving corporation would be required (whether under an instrument or otherwise):
(i) to obtain the consent or approval of a third person in a particular respect; or
before effecting the transfer of the asset or liability;
(ii) to give particular information to a third person;
the transfer may be validly effected without the consent or approval being obtained, or the information given, as the case requires.
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