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Financial Corporations (Transfer of Assets and Liabilities) Act 1993
5Transferring and receiving corporations
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5 Transferring and receiving corporations
If a financial corporation is proposing to transfer, or transfers, an asset or liability to another financial corporation, then, for the purposes of this Act; (a) the first‑mentioned corporation is the transferring corporation; and (b) the other corporation is the receiving corporation; in relation to the transfer.