Advance Bank Integration Act 1998 (NT)

NORTHERN TERRITORY OF AUSTRALIA

ADVANCE BANK INTEGRATION ACT 1998

As in force at 28 May 2012

Table of provisions [if supportFields]><span style='mso-element:field-begin'></span><span style='mso-spacerun:yes'>&#160;</span>TOC \o &#34;1-9&#34; <span style='mso-element: field-separator'></span><![endif] — Preliminary1 — Short title2 — Commencement3 — Purpose4 — Interpretation5 — Act binds CrownPart 2 — Reorganisation6 — Consequence of succession day7 — Name in which SGB carries on businessPart 3 — Payment of amount in lieu of Territory taxes and charges8 — Payment of amount in lieu of Territory taxes and chargesPart 4 — Miscellaneous9 — Certificates evidencing operation of Act, &c.10 — Registration of title, &c.11 — Act has effect despite other lawsENDNOTES NORTHERN TERRITORY OF AUSTRALIA

NORTHERN TERRITORY OF AUSTRALIA

As in force at 28 May 2012

ADVANCE BANK INTEGRATION ACT 1998

An Act to provide for the merger of the Advance Bank of Australia Limited with St. George Bank Limited and for related purposes

Part 1Preliminary 1Short title

This Act may be cited as the Advance Bank Integration Act 1998.

2Commencement

This Act comes into operation on the succession day.

3Purpose

The purpose of this Act is to facilitate the integration of Advance Bank Australia Limited into St. George Bank Limited.

4Interpretation

• (1)

  In this Act, unless the contrary intention appears:

  ABAL means Advance Bank Australia 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 contingent, tangible or intangible, in real or personal property of any kind;

  • (b)

    any chose in action;

  • (c)

    any right, interest or claim of any kind, 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, accrued or accruing); and

  • (d)

    any asset within the meaning of Part IIIA of the Income Tax Assessment Act 1936 of the Commonwealth.

  business, in relation to ABAL, includes the assets and liabilities of ABAL.

  chief executive officer, in relation to SGB, means the officer having the day to day management of the affairs of the bank and includes an officer acting from time to time in that capacity.

  NSW Regulation means the Bank Mergers (Advance Bank) Regulation 1997 made under the Bank Mergers Act 1996 of New South Wales or, if that Regulation is amended, that Regulation as amended and in force for the time being.

  instrument includes a document and an oral agreement.

  interest, in relation to land, includes:

  • (a)

    a legal or equitable estate or interest in the land; and

  • (b)

    a right, power or privilege over, or in relation to, the land.

  liability includes a duty or obligation of any kind (whether arising under an instrument or otherwise, and whether actual, contingent or prospective).

  SGB means St. George Bank Limited (A.C.N. 055 513 070).

  succession day means the day fixed under clause 3 of the NSW Regulation as the succession day for SGB and ABAL.

  translated asset, in relation to SGB, means an asset that has become, under the NSW Regulation, an asset of SGB.

  translated liability, in relation to SGB, means a liability that has become, under the NSW Regulation, a liability of SGB.

  translated instrument, in relation to ABAL, means an instrument (including a legislative instrument other than this Act or the NSW Regulation) subsisting immediately before the succession day:

  • (a)

    to which ABAL is a party;

  • (b)

    that was given to, by or in favour of, ABAL;

  • (c)

    that refers to ABAL; or

  • (d)

    under which money is, or may become, payable, or other property is, or may become, liable to be transferred, to or by ABAL.

• (2)

  Where reference is made in this Act to anything done for a purpose connected with, or arising out of, the operation or effect of this Act, that reference is taken to include any transaction entered into, or any instrument or document made, executed, lodged or given for that purpose.

5Act binds Crown

This Act binds the Crown not only in right of the Territory but, so far as the legislative power of the Legislative Assembly permits, the Crown in all its other capacities.

Part 2Reorganisation 6Consequence of succession day

On the succession day under the NSW Regulation in accordance with the principle of succession in law:

• (a)

  SGB becomes the successor in law of ABAL and is for all purposes a continuation of and the same legal entity as ABAL;

• (b)

  ABAL is liquidated and dissolved;

• (c)

  all assets of ABAL, wherever located, vest in, or are otherwise available for the use of, SGB without the need for any conveyance, transfer, assignment or assurance and without the need for any prior notice or further act;

• (d)

  all liabilities of ABAL, wherever located, become liabilities of SGB without the need for any prior notice or further act;

• (e)

  each translated instrument in respect of ABAL continues to have effect, according to its tenor, on and after the succession day, as if a reference in the instrument to ABAL were a reference to SGB;

• (f)

  on and after the succession day, a place that, immediately before that day, was a place of business for ABAL is taken to be a place of business for SGB; and

• (g)

  where, immediately before the succession day:

  • (i)

    proceedings (including arbitration proceedings) to which ABAL was a party were pending or existing in any court or tribunal, SGB is, on that day, substituted for ABAL as a party to the proceedings and has the same rights in the proceedings as ABAL had; and

  • (ii)

    documentary or other evidence would have been admissible for or against the interests of ABAL, that evidence is admissible, on or at any time after that day, for or against the interests of SGB.

  7Name in which SGB carries on business

• (1)

  SGB may carry on business in the Territory under any of the following names:

  • (a)

    Advance Bank Australia;

  • (b)

    Bank of South Australia;

  • (c)

    BankSA;

  • (d)

    another name registered by SGB under the Business Names Registration Act 2011 (Cth).

• (2)

  "Advance Bank Australia", "Bank of South Australia" and "BankSA" must, on application by SGB, be registered as business names under the Business Names Act 2007.

• (3)

  For a period of 6 months beginning on the succession day, SGB may also carry on business in the Territory under either of the following names as if the names were registered as business names of SGB under the Business Names Act 2007:

  • (a)

    "Advance Bank Australia Limited";

  • (b)

    "BankSA a Division of Advance Bank Australia Limited".

  Part 3Payment of amount in lieu of Territory taxes and charges    

8Payment of amount in lieu of Territory taxes and charges

• (1)

  SGB must pay to the Treasurer a sum that, in the opinion of the Treasurer, is equal to the amount of taxes, duties and charges that SGB would have been liable to pay under the law of the Territory if the business of ABAL and any translated asset and translated liability had vested in SGB by way of a normal commercial transaction.

• (2)

  The amount payable under subsection (1) is to be determined by the Treasurer in accordance with principles that the Treasurer thinks appropriate.

• (3)

  The Treasurer may give a certificate to SGB when satisfied that the sum due under subsection (1) has been paid stating that the sum due under the subsection has been paid.

• (4)

  Any obligation on SGB arising under an Act for the assessment or imposition of stamp duty, financial institution duty or debits tax:

  • (a)

    to lodge a statement or return relating to the vesting of the business of ABAL or any translated asset or any translated liability in SGB; or

  • (b)

    to include information about the vesting in a statement or return,

  ceases on payment of the amount determined under subsection (1).

• (5)

  This section does not apply to fees payable:

  • (a)

    to the Registrar-General in respect of an act, dealing or other transaction relating to land; or

  • (b)

    under the Motor Vehicles Act 1949 in respect of the transfer of a motor vehicle.

• (6)

  The sum payable under subsection (1) is a debt due and payable by SGB to the Territory.

Part 4Miscellaneous 9Certificates evidencing operation of Act, &c.

• (1)

  The chief executive officer of SGB may, by certificate signed by that person, certify any matter in relation to the operation or effect of this Act and, in particular, may certify that:

  • (a)

    a specified matter or thing relevant to SGB is an aspect of the operation or effect of this Act;

  • (b)

    a specified thing was done for a purpose connected with, or arising out of, the operation or effect of this Act in relation to SGB;

  • (c)

    a specified asset of ABAL has become a translated asset of SGB; or

  • (d)

    a specified liability of ABAL has become a translated liability of SGB.

• (2)

  The chief executive officer of SGB may certify that specified assets or liabilities are, or are not, assets or liabilities that vested in ABAL under the Bank of South Australia (Merger with Advance Bank) Act 1996.

• (3)

  A certificate under subsection (1) or (2) must be accepted in legal proceedings and by an administrative official as evidence of the matter certified.

• (4)

  An apparently genuine document purporting to be a certificate under subsection (1) or (2) is, unless the contrary is established, to be taken to be the certificate.

• (5)

  Nothing done by or under this Act or under the NSW Regulation affects the character that records made by ABAL or an ADI from which ABAL acquired the records may have as ADI records for the purposes of the law of evidence.

10Registration of title, &c.

• (1)

  The Registrar-General or other person required or authorised by law to register or record transactions affecting assets or liabilities:

  • (a)

    may (without formal application) register or record in the appropriate way the vesting of a translated asset or translated liability; and

  • (b)

    must, on written application by SGB, register or record in the appropriate way the vesting of a translated asset or translated liability.

• (2)

  A transaction related to a translated asset or translated liability entered into by SGB in ABAL’s name or the name of a predecessor in title to ABAL, if effected by an instrument otherwise in registrable form, must be registered even though SGB has not been registered as proprietor of the asset.

11Act has effect despite other laws

• (1)

  This Act has effect in spite of anything in any contract, deed, undertaking, agreement or other instrument.

• (2)

  Nothing done by or under this Act or under the NSW Regulation:

  • (a)

    places SGB, ABAL or another person in breach of contract or confidence or otherwise makes any of them guilty of a civil wrong; or

  • (b)

    places SGB, ABAL or another person in breach of:

    • (i)

      any law of the Northern Territory; or

    • (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)

    releases any surety, wholly or partly, from all or any of the surety’s obligations.

• (3)

  Without limiting subsection (1), where, apart from this section, the advice or consent of a person would be necessary in a particular respect, the advice is taken to have been obtained or the consent is taken to have been given, as the case requires.

ENDNOTES

• 1

  KEY

Key to abbreviations

 

amd = amended od = order

app = appendix om = omitted

bl = by-law pt = Part

ch = Chapter r = regulation/rule

cl = clause rem = remainder

div = Division renum = renumbered

exp = expires/expired rep = repealed

f = forms s = section

Gaz = Gazette sch = Schedule

hdg = heading sdiv = Subdivision

ins = inserted SL = Subordinate Legislation

lt = long title sub = substituted

nc = not commenced

• 2

  LIST OF LEGISLATION

Advance Bank Integration Act 1998 (Act No. 10, 1998)
Assent date	30 March 1998
Commenced	1 April 1998 (s 2)
Statute Law Revision (Financial Provisions) Act 2002 (Act No. 38, 2002)
Assent date	13 September 2002
Commenced	30 October 2002 (Gaz G43, 30 October 2002, p 3)
Business Names (National Uniform Legislation) Implementation Act 2012 (Act No. 8, 2012)
Assent date	27 April 2012
Commenced	pts 3 and 4: 28 May 2012 (Cth proclamation F2012L00891: 19 April 2012); rem: 27 April 2012 (s 2)

• 3

  GENERAL AMENDMENTS

General amendments of a formal nature (which are not referred to in the table of amendments to this reprint) are made by the Interpretation Legislation Amendment Act 2018 (Act No. 22, 2018) to: ss 1, 7 and 9.

• 4

  LIST OF AMENDMENTS

s 7                     amd No. 8, 2012, s 30

s 9                     amd No. 38, 2002, s 6