16Payment of an amount instead of State duties or other imposts

16 Payment of an amount instead of State duties or other imposts

16 Payment of an amount instead of State duties or other imposts

(1) Despite any other provision of this Regulation, Part 2 does not have effect unless any requirement made under this clause has been complied with or the Treasurer determines that no requirement is to be made. The Treasurer may issue a certificate to that effect under subclause (4) or (5).

(2) The Treasurer may require St.George to pay to the Treasurer instead of all duties, taxes, charges, rates or other imposts for which St.George or Advance Bank would be liable under the law of this State as a result of, or in connection with, the merger of Advance Bank with St.George an amount that is, in the opinion of the Treasurer, proper in the circumstances.

(3) The amount payable to the Treasurer is to be determined by the Treasurer in accordance with such principles as the Treasurer thinks appropriate.

(4) The Treasurer must, when satisfied that a requirement under this clause has been complied with, give St.George a certificate stating that the requirement has been complied with.

(5) If the Treasurer determines that no requirement will be made under this clause, the Treasurer must give St.George a certificate stating that no requirement is to be made.

(6) If a certificate is given under subclause (4) or (5), St.George is not liable for any duties, taxes, charges, rates or other imposts of a kind referred to in subclause (2), despite the provisions of any Act relating to the payment of duties, taxes, charges, rates or other imposts.

(7) A copy of a certificate under this clause, certified as such by the chief executive officer of St.George, or a person authorised to do so by the chief executive officer, is for all purposes and in all courts, tribunals and proceedings, conclusive evidence of the matters certified.

(8) This clause does not apply to any duties, taxes, charges, rates or other imposts:

(a) payable to the Australian Securities Commission under the Corporations Law, Corporations Regulations, ASC Law or ASC Regulations, or

(b) payable to the Registrar-General in respect of any act, dealing or other transaction relating to land.