Bank Mergers (Bank of Melbourne) Regulation 1998
12Relationships with customers and depositors
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12 Relationships with customers and depositors
12 Relationships with customers and depositors
(1) The relationship between the Bank of Melbourne and a customer or depositor at an office or branch or agency of the Bank of Melbourne is, on and after the succession day, between Westpac 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 Westpac and the customer or depositor.
(2) Any instruction, order, direction, mandate or authority given by that customer or depositor to the Bank of Melbourne and subsisting on or given after the succession day is, unless and until revoked or cancelled, taken to have been given to Westpac.
(3) Any information held immediately before the succession day by the Bank of Melbourne relating to a customer or depositor of the Bank of Melbourne at that time is available to and may be used by Westpac on and after the succession day.