12Payment of preliminary expenses

12 Payment of preliminary expenses

(1) The expenses necessary for the purpose of bringing the Commonwealth Banks Act 1959 into operation immediately upon its commencement (including any remuneration referred to in paragraph (b) of subsection (4) of the last preceding section) shall be paid by the Commonwealth Bank of Australia. (2) After the commencement of the Commonwealth Banks Act 1959, the Commonwealth Banking Corporation shall pay to the Reserve Bank of Australia an amount equal to the expenses paid under the last preceding subsection.