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This is a Bill, not an Act. For current law, see the Acts databases.
PARLIAMENT OF VICTORIA
St George Bank and Advance Bank Australia Act
1998
Act No.
TABLE OF PROVISIONS
Clause Page
1. Purpose 1
2. Commencement 2
3. Definitions 2
4. Act to bind Crown 3
5. Business names 3
6. Payment of amount in lieu of State taxes and charges 4
7. Certificates evidencing operation of Act or New South Wales
regulation 6
8. Interests in land 7
9. Legal proceedings and evidence 7
10. Act to have effect despite other laws 8
NOTES 9
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s. 1
PARLIAMENT OF VICTORIA
A BILL
to facilitate the merger of Advance Bank Australia Limited with the
St. George Bank Limited and for other purposes.
St George Bank and Advance Bank
Australia Act 1998
Preamble
(1) Advance Bank Australia Limited is a company
incorporated in New South Wales.
(2) St. George Bank Limited is a company incorporated in
New South Wales.
(3) The companies have agreed to merge the banking
businesses carried on by them.
(4) It is expedient to enact legislation to facilitate the
merger of the banking businesses.
The Parliament of Victoria therefore enacts as follows:
1. Purpose
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St George Bank and Advance Bank Australia Act 1998
Act No.
The purpose of this Act is to facilitate the merger
of Advance Bank Australia Limited with St.
George Bank Limited.
2. Commencement
5 This Act comes into operation on the day on
which it receives the Royal Assent.
3. Definitions
In this Act--
"Advance Bank" means Advance Bank Australia
10 Limited (A.C.N. 002 953 335);
"asset" means property, or a right, of any kind,
and includes--
(a) any legal or equitable estate or interest
(whether present or future, vested or
15 contingent, tangible or intangible), in
real or personal property of any kind;
and
(b) any chose in action; and
(c) any right, interest or claim of any kind,
20 including rights, interests or claims in
or in relation to property (whether
arising under an instrument or
otherwise, and whether liquidated or
unliquidated, certain or contingent,
25 accrued or accruing); and
(d) any asset within the meaning of
Part IIIA of the Income Tax
Assessment Act 1936 of the
Commonwealth.
30 "chief executive officer", in relation to
St George, means the officer having the day
to day management of the affairs of
2
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St George Bank and Advance Bank Australia Act 1998
s. 4
5
Act No.
St George and includes an officer acting
from time to time in that capacity;
"instrument" includes a document and an oral
agreement;
5 "interest", in relation to land, includes--
(a) a legal or equitable estate or interest in
the land; or
(b) a right, power or privilege over, or in
relation to, the land;
10 "liability" includes a duty or obligation of any
kind (whether arising under an instrument or
otherwise, and whether actual, contingent or
prospective);
"New South Wales regulation" means the Bank
15 Mergers (Advance Bank) Regulation 1998 of
New South Wales;
"St George" means St. George Bank Limited
(A.C.N. 055 513 070);
"translated asset" means an asset that, under the
20 New South Wales regulation, has become an
asset of St George;
"translated liability" means a liability that,
under the New South Wales regulation, has
become a liability of St George.
25 4. Act to bind Crown
This Act binds the Crown in right of Victoria and,
so far as the legislative power of the Parliament
permits, the Crown in all its other capacities.
5. Business names
30 (1) St George may, in addition to any other name it is
entitled to use, operate in this State under any of
3
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St George Bank and Advance Bank Australia Act 1998
Act No.
the following names (the "permitted business
names")--
(a) Advance Bank Australia;
(b) Bank of South Australia;
5 (c) BankSA.
(2) Until 30 November 1998, St George may also
operate in this State under either of the following
names--
(a) Advance Bank Australia Limited;
10 (b) BankSA, a Division of Advance Bank
Australia Limited.
(3) This section does not prevent St George from
registering any of the permitted business names,
or any other name, under the Business Names Act
15 1962.
(4) In this section, a reference to operating under a
name includes a reference to engaging in any
conduct in respect of which, for the purpose of the
Business Names Act 1962, that name would (but
20 for sub-section (1)) have been required to be
registered.
6. Payment of amount in lieu of State taxes and charges
(1) St George must pay to the Treasurer in lieu of all
taxes, duties, charges or other imposts for which
25 St George or Advance Bank would otherwise be
liable under the law of this State as a result of, or
in connection with--
(a) the vesting of any translated asset in, or
transfer of any translated liability to,
30 St George; or
(b) an application made, a debit or credit or
other entry made, receipt given, or anything
else done for acknowledging, evidencing or
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St George Bank and Advance Bank Australia Act 1998
s. 5
Act No.
giving effect to the vesting of any translated
asset in, or transfer of any translated liability
to, St George--
an amount which, in the opinion of the Treasurer,
5 is equal to the amount of those taxes, duties,
charges or other imposts.
(2) If St George pays an amount referred to in sub-
section (1)--
(a) despite the provisions of any Act relating to
10 the payment of taxes, duties, charges or other
imposts, St George is not liable for any
taxes, duties, charges or other imposts in
respect of a vesting, transfer or other matter
referred to in sub-section (1) and an
15 instrument effecting or evidencing any such
vesting, transfer or other matter is not
chargeable with any such taxes, duties,
charges or other imposts; and
(b) no obligation arises under an Act for the
20 assessment or imposition of stamp duty,
financial institutions duty or debits tax--
(i) to lodge a statement or return relating
to the vesting of any translated asset in,
or transfer of any translated liability to,
25 St George; or
(ii) to include information about the vesting
or transfer in a statement or return.
(3) The Treasurer is to give a certificate to St George
when satisfied that the sum due under sub-section
30 (1) has been paid stating that the sum due under
that sub-section has been paid.
(4) In this section, "taxes, duties, charges or other
imposts" does not include amounts--
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St George Bank and Advance Bank Australia Act 1998
s. 7
Act No.
(a) payable to the Australian Securities
Commission under the Corporations Law,
the Corporations Regulations, the ASC Law
or the ASC Regulations; or
5 (b) payable to the Registrar of Titles or
Registrar-General in respect of any act,
dealing or other transaction relating to land.
7. Certificates evidencing operation of Act or New South
Wales regulation
10 (1) The chief executive officer of St George may, by
certificate signed by the chief executive officer,
certify any matter in relation to the operation or
effect of this Act or the New South Wales
regulation and, in particular, may certify that--
15 (a) a specified matter or thing relevant to
St George is an aspect of the operation or
effect of this Act or the New South Wales
regulation; or
(b) a specified thing was done for a purpose
20 connected with, or arising out of, the
operation or effect of this Act or the New
South Wales regulation in relation to
St George; or
(c) a specified asset of Advance Bank has
25 become a translated asset of St George; or
(d) a specified liability of Advance Bank has
become a translated liability of St George; or
(e) a specified asset or liability of Advance
Bank, being a liability or asset transferred to
30 Advance Bank under the Bank of South
Australia and Advance Bank Act 1996,
has become a translated asset of St George.
(2) For all purposes and in all courts, tribunals and
proceedings, a certificate under sub-section (1) is
35 conclusive evidence of the matters certified,
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St George Bank and Advance Bank Australia Act 1998
s. 8
Act No.
except to the extent that the contrary is
established.
8. Interests in land
(1) Where any land of which Advance Bank is, or is
5 deemed or taken to be, the registered proprietor is
by virtue of the New South Wales regulation
vested in St George, notwithstanding anything to
the contrary in any written law or other law, St
George is to be deemed to be the registered
10 proprietor of the land for the purposes of the
Transfer of Land Act 1958 and the land may be
dealt with accordingly.
(2) On being requested to do so and on delivery of
any relevant instrument or document and on
15 payment of any relevant fees under the Transfer
of Land Act 1958, the Registrar of Titles must
make any recording in the Register that are
necessary because of the operation of this Act.
(3) On being requested to do so and on production of
20 any relevant instrument or document, the
Registrar-General must make all entries on
records of enrolment of any Crown grant and on
any memorial relating to any land concerned that
are necessary because of the operation of this Act.
25 9. Legal proceedings and evidence
(1) Where, immediately before 1 April 1998,
proceedings (including arbitration proceedings) to
which Advance Bank was party were pending or
existing in any court or tribunal, St George is, on
30 that day, substituted for Advance Bank as a party
to the proceedings and has the same rights in the
proceedings as Advance Bank had.
(2) Where, before 1 April 1998, documentary or other
evidence would have been admissible for or
35 against the interest of Advance Bank, that
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St George Bank and Advance Bank Australia Act 1998
s. 10
Act No.
evidence is admissible, on or at any time after that
date, for or against the interests of St George.
10. Act to have effect despite other laws
(1) This Act has effect despite anything in any
5 contract, deed, undertaking, agreement or other
instrument.
(2) Nothing done by or under this Act--
(a) places St George, Advance Bank or another
person in breach of contract or confidence or
10 otherwise makes any of them guilty of a civil
wrong; or
(b) places St George, Advance Bank or another
person in breach of--
(i) any law of Victoria; or
15 (ii) any contractual provision prohibiting,
restricting or regulating the assignment
or transfer of any asset or liability or
the disclosure of any information; or
(c) fulfils any condition which allows a person
20 to terminate or otherwise exercise a right or
power under any agreement or liability; or
(d) releases any surety or other obligor, wholly
or partly, from any liability, whether actual,
contingent or prospective.
25 (3) Without limiting sub-section (1), where, apart
from this section, the advice or consent of a
person would be necessary in any particular
respect in order to give effect to this Act, the
advice is taken to have been obtained or the
30 consent is taken to have been given, as the case
requires.
8
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St George Bank and Advance Bank Australia Act 1998
Notes
Act No.
NOTES
By Authority. Government Printer for the State of Victoria.
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St George Bank and Advance Bank Australia Act 1998
Act No.
10
532033B.I1-6/4/98
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