Document ID: chunk:federal_register_of_legislation:C2025C00096:schedule:1:p14
Version: federal_register_of_legislation:C2025C00096
Segment Type: schedule
Provision Reference: sch 1 (pt 14/51)
Character Range: 196712–199418

to so transfer those interests, title, rights and obligations from the Corporation to the Bank.
    4.2 Bank bound by Portfolio Assets
     The Bank hereby acknowledges and agrees that the Amending Act should bind it, as and from the Vesting Dates, to comply with the terms and conditions of the Portfolio Assets.
    4.3 Bank to perform the terms and conditions of Portfolio Assets
     The Bank hereby acknowledges and agrees that the Amending Act should bind it, as and from the relevant Vesting Dates, to abide by and duly perform the terms and conditions and obligations of the Corporation under the Portfolio Assets.
    4.4 Nomination of Vesting Dates
     The Bank shall be entitled to give written notices to the Commonwealth and the Corporation nominating a date for the vesting of the Portfolio Assets in one or more of the States and Territories provided that;
       (a) such date may not be earlier than ten (10) days from the date of giving notice;
       (b) such date in relation to a particular State or Territory may not be earlier than;
           (i) the date identified in Sub‑clause 4.6 in respect of that State or Territory; or
           (ii) if the Date of Proclamation is a date between 1 January 1989 and 30 June 1989, then such date referred to in Sub‑paragraph (i) shall be extended by the number of days between 1 January 1989 and the Date of Proclamation (both dates being inclusive).
    4.5 Ministerial Determination of Vesting Dates
     Subject to Sub‑clause 4.5.1 the Minister shall determine the Vesting Date in relation to the Portfolio Assets in each State or Territory. The Vesting Date so determined shall not differ by more than three (3) days from the date for vesting in relation to a State or Territory previously notified by the Bank pursuant to Sub‑clause 4.4.
    4.5.1 In the event that the Bank is in default under this Agreement in payment of part or all of the Consideration referred to in Sub‑clause 3.1;
       (a) on the date of its giving a notice to the Minister under Sub‑clause 4.4;
       (b) on the date upon which the Minister, pursuant to Sub‑clause 4.5, determines a date for vesting; or
       (c) subsequent to a date being fixed by the Minister for vesting under Sub‑clause 4.5 but prior to vesting being effected;
     the Minister may refuse to determine a Vesting Date or may revoke any determination which has been made, up to the Vesting Date so determined.
    4.5.2 Where the Bank has remedied its default in payment of part or all of the Consideration, it may give a further written notice to the Commonwealth and the Corporation pursuant to Sub‑clause 4.4 and the Minister shall thereupon determine the Vesting Date in accordance