Financial Sector (Transfer and Restructure) Act 1999
View history note
Hide history noteAn 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 .
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