Commonwealth Banks Act 1959

The Commonwealth Bank must, before the conversion time:

apply to the Securities Commission under subsection 85(1) of the Companies Act 1981 to be registered as a company limited by shares within the meaning of that Act; and

apply to the Securities Commission under subsection 55(1) of the Companies Act 1981 for the reservation of the name “Commonwealth Bank of Australia”; and

lodge with the Securities Commission a proposed memorandum, and proposed articles, for the Commonwealth Bank; and

if the rights attached to shares included in a class of shares under subsection 27A(4) are not provided for in the memorandum or articles, lodge with the Securities Commission the statement referred to in subsection 124(1) of the Companies Act 1981.

Subject to the regulations, the application mentioned in paragraph (1)(a) must be accompanied by the documents required by subsection 85(4) of the Companies Act 1981 to accompany such an application.

The applications mentioned in paragraphs (1)(a) and (b) must be made to the Securities Commission by delivering them to the office of the Corporate Affairs Commission for the Australian Capital Territory and the documents mentioned in paragraphs (1)(c) and (d) and subsection (2) must be lodged with the Securities Commission by lodging them at that office.

The Commonwealth Bank is to be taken to be entitled to make the applications referred to in paragraphs (1)(a) and (b), and to lodge the documents mentioned in paragraphs (1)(c) and (d) and subsection (2).

The Securities Commission is to be taken:

to have been required to reserve the name “Commonwealth Bank of Australia” under subsection 55(2) of the Companies Act 1981; and

to have so reserved that name immediately after the making of the application mentioned in paragraph (1)(b).