Financial Sector (Transfer and Restructure) Act 1999
For the purposes of deciding whether or how to perform or exercise functions or powers under this Act in relation to things mentioned in subsection (1A), each of the following provisions:
(a) section 62 of the Banking Act 1959 ;
(b) any other provision of that Act, or of another Act, prescribed by the regulations;
has effect as if this Act were part of the Act that contains the provision.
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Hide history note41(1A)
For the purposes of subsection (1), the things mentioned in this subsection are as follows:
(a) a transfer of business, or a proposed or possible transfer of business, from or to an ADI;
(b) a transfer of shares, or a proposed or possible transfer of transfer of shares in an ADI;
(c) the restructure, or the possible restructure, of an ADI and one or more related bodies corporate.
41(2)
For the purposes of deciding whether or how to perform or exercise functions or powers under this Act in relation to things mentioned in subsection (3), each of the following provisions:
(a) section 131 , 132 or 133 of the Life Insurance Act 1995 ;
(b) any other provision of that Act, or of another Act, prescribed by the regulations;
has effect as if this Act were part of the Act that contains the provision.
41(3)
For the purposes of subsection (2), the things mentioned in this subsection are as follows:
(a) a transfer of business, or a proposed or possible transfer of business, from or to a life insurance company;
(b) a transfer of shares, or a proposed or possible transfer of transfer of shares in a life insurance company;
(c) the restructure, or the possible restructure, of a life insurance company and one or more related bodies corporate.
41(4)
For the purposes of deciding whether or how to perform or exercise functions or powers under this Act in relation to things mentioned in subsection (5), each of the following provisions:
(a) section 115 of the Insurance Act 1973 ;
(b) any other provision of that Act, or of another Act, prescribed by the regulations;
has effect as if this Act were part of the Act that contains the provision.
41(5)
For the purposes of subsection (4), the things mentioned in this subsection are as follows:
(a) a transfer of business, or a proposed or possible transfer of business, from or to a general insurer;
(b) a transfer of shares, or a proposed or possible transfer of transfer of shares in a general insurer;
(c) the restructure, or the possible restructure, of a general insurer and one or more related bodies corporate.
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