The Commercial Banking Company of Sydney Limited (Merger) Act 1982
15Crown lands
Start here
Get a plain-English read of 15
Turn the raw legal text into a practical explanation grounded in The Commercial Banking Company of Sydney Limited (Merger) Act 1982.
15 Crown lands
15 Crown lands
(1) Where any part of the undertaking of CBC or CBC Savings Bank or any property held by Commercial Nominees Pty. Limited as trustee subject to the provisions of the Closer Settlement Acts, the Western Lands Act 1901, the Crown Lands Consolidation Act 1913, or any other Act relating to Crown lands or the Mining Act 1973, or the Coal Mining Act 1973 is by virtue of this Act vested in the continuing bank or the continuing savings bank or National Nominees Limited, the proper officer is hereby authorised to make all such entries as may be necessary to give effect to or recognise the vesting of that part of that undertaking or that property.
(2) Subsection (1) applies only to and in respect of a part of the undertaking of CBC or CBC Savings Bank and property referred to in that subsection which, when vested in the continuing bank, the continuing savings bank or National Nominees Limited, will be held by way of security.