12Relationships with customers and depositors

12 Relationships with customers and depositors

12 Relationships with customers and depositors

(1) The relationship between Advance Bank and a customer or depositor at an office or branch or agency of Advance Bank is, on and after the succession day, between St.George and that customer or depositor, and gives rise to the same rights and duties (including rights of set-off) as would have existed before that day if that relationship had always been between St.George and the customer or depositor.

(2) Any instruction, order, direction, mandate or authority given by that customer or depositor to Advance Bank and subsisting on or given after the succession day is, unless and until revoked or cancelled, taken to have been given to St.George.

(3) Any information held immediately before the succession day by Advance Bank relating to a customer or depositor of Advance Bank at that time is available to and may be used by St.George on and after the succession day.