3Definitions

3 Definitions

3 Definitions

In this Act, except in so far as the context or subject-matter otherwise indicates or requires:

appointed day means the day appointed and notified under section 2 (2).

CBC means The Commercial Banking Company of Sydney Limited.

CBC Savings Bank means C.B.C. Savings Bank Limited.

continuing bank means The National Bank of Australasia Limited.

continuing savings bank means The National Bank Savings Bank Limited.

excluded assets means:

(a) documents required by law to be kept by CBC or CBC Savings Bank,

(b) prescribed securities held, immediately before the appointed day, by or on behalf of CBC or CBC Savings Bank otherwise than by way of security, and

(c) land held, immediately before the appointed day, by or on behalf of: CBC or CBC Savings Bank otherwise than by way of security.

instrument means an instrument (other than this Act) which creates, evidences, modifies or extinguishes rights or liabilities or would do so if it or a copy thereof were lodged, filed or registered under any Act or other law and includes any judgment, order and process of a court.

land includes any estate or interest in land, and any interest in respect of land.

legal proceedings includes an arbitration.

liabilities means all liabilities, duties and obligations, whether actual, contingent or prospective.

prescribed securities means securities within the meaning of the Securities Industry (New South Wales) Code.

property means property of every kind whether tangible or intangible, real or personal, corporeal or incorporeal, and without limiting the generality of the foregoing includes choses in action, goodwill, rights, interests and claims of every kind in or to property, whether arising from, accruing under, created or evidenced by or the subject of an instrument or otherwise and whether liquidated or unliquidated, actual, contingent or prospective.

rights means all rights, powers, privileges and immunities, whether actual, contingent or prospective.

security means a mortgage or charge (whether legal or equitable), debenture, bill of exchange, promissory note, guarantee, indemnity, lien, pledge or other security for the payment of money or for the discharge of any other liability, and includes an agreement or undertaking to give or execute any of the foregoing whether upon demand or otherwise.

transferred employee means an employee of CBC who becomes an employee of the continuing bank in pursuance of this Act.