Document ID: chunk:federal_register_of_legislation:C2004A04745:body:0:p7
Version: federal_register_of_legislation:C2004A04745
Segment Type: other
Provision Reference: 
Character Range: 16326–19076

applies to property of the company to the extent (if any) to which that property is not vested in the State Bank of South Australia under subsection 23(2) of the State Bank (Corporatisation) Act 1994 of South Australia.".

PART 2.3—MODIFICATIONS OF THE PRIVACY ACT 1988 RELATING TO THE RESTRUCTURING OF THE STATE BANK OF SOUTH AUSTRALIA

Division 1—Preliminary

Object of Part

12. The object of this Part is to facilitate the restructuring of the State Bank of South Australia by modifying the effect of the Privacy Act 1988.

Interpretation

13. An expression used in this Part and in the Privacy Act 1988 has the same meaning in this Part as it has in that Act.

Definitions

  14. In this Part:

"account" includes a deposit or loan;

"appointed day" has the same meaning as in the State Bank (Corporatisation) Act 1994 of South Australia;

"borrower" has a meaning corresponding to "loan";

"designated subsidiary of the State Bank of South Australia" means a company that is an SBSA subsidiary within the meaning of the State Bank (Corporatisation) Act 1994 of South Australia;

"eligible customer", in relation to a person, means:

  (a) an individual who is, or has sought to become:

      (i) a customer of the person within the ordinary meaning of that expression; or

      (ii) a depositor with the person; or

      (iii) a borrower from the person; or

    (b) a guarantor or prospective guarantor of an individual who is, or has sought to become, a borrower from the person;

"re-transfer provision" means:

    (a) section 16 of the State Bank (Corporatisation) Act 1994 of South Australia; or

  (b) a corresponding provision of a law of another State or of a Territory;

"transfer provision" means:

    (a) section 7 of the State Bank (Corporatisation) Act 1994 of South Australia; or

  (b) a corresponding provision of a law of another State or of a Territory.

State banking

15.(1) Section 12A of the Privacy Act 1988 has effect as if the provisions of this Part were provisions of that Act.

(2) A reference in the Privacy Act 1988 to State banking does not include a reference to State banking to the extent to which the matter of State banking has been referred to the Parliament under section 21 of the State Bank (Corporatisation) Act 1994 of South Australia.

Division 2—Transfers of loans—transferee bank deemed to have provided credit

  Transfers to Bank of South Australia Limited

  16.(1) This section applies if:

    (a) a loan or prospective loan is transferred on a particular day (the "transfer day") under a transfer provision to Bank of South Australia Limited from:

      (i) the State Bank of South Australia; or

      (ii) a designated subsidiary of the State Bank of South Australia; and

     (b)