27F
CurrentMembership of the Commonwealth Bank
Part IVThe Commonwealth Bank
Division 2Conversion of Commonwealth Bank into a public company
27F Membership of the Commonwealth Bank
The Commonwealth:
(a)
by force of this subsection, becomes a member of the Commonwealth Bank at the conversion time; and
(b)
in relation to membership of the Commonwealth Bank:
(i)
is entitled to the same rights, privileges and benefits; and
(ii)
is subject to the same duties, liabilities and obligations;
as if the Commonwealth had become a member of the Commonwealth Bank under the Commonwealth Bank’s memorandum and articles.
This Act’s bill:Second reading speech
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