Document ID: chunk:federal_register_of_legislation:C2016C00828:section:9
Version: federal_register_of_legislation:C2016C00828
Segment Type: section
Provision Reference: s 9
Character Range: 11691–12980

9  Treasurer may fix succession day for a particular receiving bank and transferring bank
 (1) Subject to sections 10 and 11, where the Treasurer receives notice of a proposal under paragraph 7(1)(b) from a receiving bank, he or she may:
 (a) if the receiving bank is the Commonwealth Bank—in consultation with the chief executive officer of the bank; and
 (b) if the receiving bank is another bank—in consultation with the Treasurer (however described) of the incorporating State and the chief executive officer of the bank;
by notice published in the Gazette, fix a day on which the business of the relevant transferring bank is to vest in the receiving bank.
 (2) Subject to section 10, where the Treasurer receives notice of a proposal under paragraph 7(2)(b) from BNZ, he or she may, in consultation with the Minister of Finance of New Zealand and the chief executive officer of BNZ, by notice published in the Gazette, fix a day on which the business of BNZ Savings that relates to its Australian operations is to vest in BNZ.
 (3) The day fixed in a notice under subsection (1) or (2) is to be called the succession day for the receiving bank and the relevant transferring bank referred to in the notice and must not be a day occurring before the day of publication of the notice.