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Bank Mergers (St. George Partnership Banking) Regulation 1997
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 Partnership Banking and is for all purposes a continuation of and the same legal entity as Partnership Banking, and
(b) Partnership Banking is liquidated and dissolved.
(2) Nothing in any other provision of this Part limits the operation of this clause.