Financial Sector (Transfer and Restructure) Act 1999

PART 4 - COMPULSORY TRANSFERS  

Division 2 - Compulsory transfer determinations  

SECTION 30   AGREEMENTS ABOUT MATTERS CONNECTED WITH THE TRANSFER  

30(1)    
The transferring body or the receiving body, or both of those bodies, may provide APRA with a written statement specifying, or specifying a mechanism for determining, things that are to happen, or that are taken to be the case, in relation to:

(a) in the case of a transfer of business - assets and liabilities that are to be transferred, or in relation to the transfer of business that is to be effected; or

(b) in the case of a transfer of shares - shares that are to be transferred, or in relation to the transfer of shares that is to be effected.

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History

S 30(1) substituted by No 10 of 2018, s 3 and Sch 4 item 65, effective 5 March 2018. S 30(1) formerly read:

30(1)
The transferring body or the receiving body, or both of those bodies, may provide APRA with a written statement specifying, or specifying a mechanism for determining, things that are to happen, or that are taken to be the case, in relation to assets and liabilities that are to be transferred, or in relation to the transfer of business that is to be effected.

30(2)    
APRA may, in writing, approve the statement before issuing the certificate of transfer if APRA is satisfied that:

(a) the statement has been agreed to by the transferring body and the receiving body; and

(b) the matters specified in the statement are appropriate.

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