Document ID: chunk:federal_register_of_legislation:C2004A03717:body:0:p73
Version: federal_register_of_legislation:C2004A03717
Segment Type: other
Provision Reference: 
Character Range: 184413–187176

the Bank, its officers, employees and agents ("the Bank'') from and against all and any reasonable losses, costs (including legal costs), liabilities, refunds, expenses and other outgoings incurred by the Bank in connection with any claim made by a third party against the Bank to the extent to which those losses, costs, refunds, liabilities, including tortious liabilities, expenses or other outgoings are incurred by the Bank as a result of:
      (a) the acts or omissions of the Commonwealth, the Corporation, or their servants or agents, arising prior to the relevant Vesting Dates; or
      (b) any breach by the Commonwealth of any of the warranties set out in Sub-clause 15.2.
    16.3 Obligation of Commonwealth
    The Commonwealth shall indemnify and keep indemnified the Bank from and against all and any reasonable losses and costs (including legal costs) incurred by the Bank in the event of it being not entitled to take action under any Portfolio Agreement or Portfolio Supplementary Agreement by reason of its not being a party to those Agreements.
    17. DEALINGS WITH SOUTH AFRICA AND NAMIBIA
    The Bank hereby agrees that:
      (i) to the best of its knowledge and understanding, as at the date of signing of this Agreement no South African or Namibian persons in aggregate have a beneficial interest in fifty (50) per cent or more of the issued shares of the Bank; and

SCHEDULE 1—continued

      (ii) the Commonwealth shall be notified in writing forthwith if, during the period of operation of this Agreement, the Bank becomes aware of any actual or proposed change which will lead or is likely to lead to South African or Namibian persons in aggregate having a beneficial interest in fifty (50) per cent or more of the issued shares of the Bank.
    For the purposes of this Clause, a South African or Namibian person is defined as a "natural person who is a citizen of or resides in South Africa or Namibia or alternatively is a company or body corporate or any body not being a body corporate which is incorporated or formed in South Africa or Namibia".
    18. NON-MERGING ON SETTLEMENT AND SEVERABILITY
    18.1 Any provision in this Agreement which is to take effect after 1 December 1988 or the date of commencement of the Amending Act, whichever is the later, shall not merge on settlement but rather shall continue in full force and effect.
    19. STAMP DUTY, ADMINISTRATIVE ARRANGEMENTS AND STATE/TERRITORY GOVERNMENT FEES
    19.1 Stamp Duty
    Subject to Sub-clause 19.2, any stamp duty arising out of this Agreement or its implementation shall be borne by the Bank.
    19.2 Assessment
         19.2.1 Where the Bank receives an assessment in respect of stamp duty on this Agreement or the transfer of Portfolio Assets