Australian Capital Territory Numbered Acts

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STATE BANK OF SOUTH AUSTRALIA (TRANSFER OF UNDERTAKING) ACT 1994 (NO. 31 OF 1994) - SECT 3

Interpretation

3. In this Act, unless the contrary intention appears—“appointed day” means a day fixed as the appointed day by proclamation under the South Australian Act; “asset” means property including property held in a fiduciary capacity; “BSAL” means the public company with the name “Bank of South Australia Limited” formed under the Corporations Law; “CEO of BSAL” means the chief executive officer of BSAL (however described) or a delegate of the chief executive officer; “corresponding law” means the South Australian Act or a law of another State or another Territory providing for the transfer of assets and liabilities between—

        (a)     SBSA or SBSA subsidiaries; and

        (b)     BSAL;

“guarantee” includes indemnity;
“legal proceedings” includes an arbitration and an administrative proceeding;
“liability” means a present, future or contingent liability (arising either at law or in equity) and includes a duty or non-pecuniary obligation;
“property” means real or personal property and includes—

        (a)     a chose in action; and

        (b)     a present, future or contingent right, privilege, interest or power;

“SBSA” means the State Bank of South Australia, or, according to the context, that body as continued in existence under the name “South Australian Asset Management Corporation”;
“SBSA subsidiary” or “subsidiary” means—

        (a)     Beneficial Finance Corporation Limited; and

        (b)     any company classified under the South Australian Act as an SBSA subsidiary;

“security” means—

        (a)     a mortgage, charge, lien or pledge;

        (b)     a guarantee; or

        (c)     any other security for, or instrument relating to, the payment of money or the discharge of any other liability;

“South Australian Act” means the State Bank (Corporatisation) Act 1994 of South Australia;
“South Australian Treasurer” means the Treasurer of South Australia, and includes, in relation to a particular power or function under this Act, a Minister of the Crown in right of South Australia exercising or performing the power or function by delegation of the Treasurer of South Australia;
“transfer period” means the transfer period within the meaning of the South Australian Act;
“transferred asset” means an asset transferred to BSAL (and not re-transferred to SBSA or an SBSA subsidiary) under this Act or a corresponding law;
“transferred liability” means a liability transferred to BSAL (and not re-transferred to SBSA or an SBSA subsidiary) under this Act or a corresponding law.


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