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Financial Sector (Transfer and Restructure) Act 1999
25AMinisterial declaration that compulsory transfer should occur in relation to ADI
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25A Ministerial declaration that compulsory transfer should occur in relation to ADI
(1) The Minister may declare, in writing given to APRA, that: (a) a transfer of business should occur from a specified ADI to another specified body corporate; or (b) a transfer of shares in a specified ADI to another specified body corporate should occur; or (c) either: (i) a transfer of business should occur from a specified ADI to another specified body corporate; or (ii) a transfer of shares in a specified ADI to another specified body corporate should occur. (2) A declaration made under subsection (1) is not a legislative instrument.