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State Bank (Succession of Commonwealth Bank) Act 1990
9Commonwealth Bank to become successor in law of State Bank
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9 Commonwealth Bank to become successor in law of State Bank
s. 9
On the succession day—
(a) all property and rights of the State Bank, wherever located, vest in the Commonwealth Bank; and
(b) all liabilities of the State Bank, wherever located, become liabilities of the Commonwealth Bank; and
(c) the Commonwealth Bank becomes the successor in law of the State Bank; and
(d) the State Bank is dissolved.