NSWIn ForceRegulation
Bank Mergers (Advance Bank) Regulation 1998
5Consequence of succession day
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5 Consequence of succession day
5 Consequence of succession day
(1) On the succession day, in accordance with the principle of succession in law:
(a) St.George becomes the successor in law of Advance Bank and is for all purposes a continuation of and the same legal entity as Advance Bank, and
(b) Advance Bank is liquidated and dissolved.
(2) Nothing in any other provision of this Part limits the operation of this clause.