5
CurrentSuccession of banks
5 Succession of banks
(1)
A regulation for the purposes of this Act may provide for the liquidation or dissolution of a bank being merged with another bank.
(2)
Any such regulation may only be made with the approval of the Minister administering the Corporations Law.
(3)
A regulation for the purposes of this Act may provide that a bank is the successor in law of another bank and is, for all purposes, a continuation of and the same legal entity as the other bank.
Regulations
This provision refers to the regulations (A regulation
). Made under this Act:
This Act’s bill:Explanatory memorandumSecond reading speech
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