Document ID: chunk:federal_register_of_legislation:C2004A02940:body:0:p4
Version: federal_register_of_legislation:C2004A02940
Segment Type: other
Provision Reference: 
Character Range: 8233–11188

render defective any legal or other proceedings instituted or to be instituted by or against the body corporate continued in existence by force of the section inserted in the Principal Act by that sub-section, and any legal or other proceedings that might have been continued or commenced by or against that body corporate by the name of the Commonwealth Trading Bank of Australia may be continued or commenced against that body corporate by the name of the Commonwealth Bank of Australia.
(4) A reference to the Commonwealth Trading Bank of Australia in any Act, in any instrument under an Act, in any award or other industrial determination or order or any industrial agreement, in any other order (whether executive, judicial or otherwise), in any contract, in any pleading in, or process issued in connection with, any legal or other proceedings or in any other instrument, shall, except in relation to matters that occurred before the commencement of this section, be construed as a reference to the Commonwealth Bank of Australia in existence by force of the section inserted in the Principal Act by sub-section (1) of this section.

General functions of Commonwealth Bank
9. Section 28 of the Principal Act is amended—
    (a) by omitting from sub-section (1) "Trading Bank" and substituting "Commonwealth Bank";
    (b) by omitting from sub-section (2) "Trading Bank" and substituting "Commonwealth Bank"; and
    (c) by omitting from sub-section (3) "Trading Bank" and substituting "Commonwealth Bank".

Powers of Commonwealth Bank
10. Section 29 of the Principal Act is amended—
    (a) by omitting from sub-section (1) "Trading Bank" and substituting "Commonwealth Bank";
    (b) by omitting from sub-section (2) "Trading Bank" and substituting "Commonwealth Bank";
    (c) by omitting paragraphs (2) (i) and (j) and substituting the following paragraphs:
      "(j) to underwrite loans and issues of capital;
       (k) with the approval of the Treasurer—
          (i) to promote or establish, or to participate in the promotion or establishment of, prescribed bodies corporate; and
          (ii) to acquire interests in bodies corporate in circumstances where, as a result of the acquisition, the bodies corporate become prescribed bodies corporate;
       (m) to subscribe for, and to hold, shares in the capital of the Savings Bank; and
       (n) to do anything incidental to any of its powers."; and
    (d) by adding at the end thereof the following sub-section:
   "(3) In this section—
        'constituent document', in relation to a body corporate, means the memorandum of association, charter or other instrument constituting, or defining the constitution of, the body corporate, or governing activities or conduct of the body corporate;
        'prescribed body corporate' means a body corporate—
             (a) that is a corporation as defined in sub-section 5 (1) of the Companies Act 1981 and that would, if the Commonwealth