Document ID: chunk:federal_register_of_legislation:C2024A00087:clause:1_839k
Version: federal_register_of_legislation:C2024A00087
Segment Type: clause
Provision Reference: sch 1 cl 839K
Character Range: 87804–90170

839K  Reserve Bank's rules may make special provision in relation to compulsory transfer

Compulsory transfer of shares
 (1) The Reserve Bank may, by legislative instrument, make rules in relation to any of the following matters in relation to a transfer of shares, or proposed transfer of shares, under this Division:
 (a) the payment to a holder of shares in a target body under this Division of a purchase price for those shares;
 (b) the resolution of disputes involving a holder of shares in a target body under this Division (including the resolution of such disputes by the Federal Court);
 (c) the publication, by the Reserve Bank, the target body and the receiving body, of information relating to a transfer of shares, or proposed transfer of shares, under this Division;
 (d) the freeing of shares in a target body from any trust, liability or other encumbrance when they become shares held by a receiving body;
 (e) any matter incidental to:
 (i) a transfer of shares, or proposed transfer of shares, under this Division; or
 (ii) any of the other matters mentioned in this subsection.

Compulsory transfer of business
 (2) The Reserve Bank may, by legislative instrument, make rules in relation to any of the following matters in relation to a transfer of business, or proposed transfer of business, under this Division:
 (a) the payment to a target body under this Division of a purchase price for a business;
 (b) the resolution of disputes involving a target body under this Division (including the resolution of such disputes by the Federal Court);
 (c) the publication, by the Reserve Bank, a target body and a receiving body, of information relating to a transfer of business, or proposed transfer of business, under this Division;
 (d) the freeing of assets of a target body from any trust, liability or other encumbrance when they become assets of a receiving body;
 (e) any matter incidental to:
 (i) a transfer of business, or proposed transfer of business, under this Division; or
 (ii) any of the other matters mentioned in this subsection.

Failure to comply with rules
 (3) A person must comply with the provisions of rules made under this section that apply to the person.
Note: Failure to comply with this subsection is an offence: see subsection 1311(1).

Division 5—Directions

Subdivision A—Directions to manage or respond to crisis