121Agreement about how transfer is to be effected

121 Agreement about how transfer is to be effected

(1) If a determination is made under section 118 or 119 that there is to be a transfer, the target body or the receiving body, or both of those bodies, may provide the Reserve Bank with a written statement specifying, or specifying a mechanism for determining, things that are to happen, or that are taken to be the case, in relation to:

(a) if the determination is made under section 118—some or all of the shares that are to be transferred; or

(b) if the determination is made under section 119—some or all of the assets and liabilities that are to be transferred.

(2) The Reserve Bank may, in writing, approve the statement before issuing the certificate of transfer if the Reserve Bank is satisfied that:

(a) the statement has been agreed to by the target body and the receiving body; and

(b) the matters specified in the statement are appropriate.