No. 93

2629

SUPPLEMENT
TO THE
NEW ZEALAND GAZETTE
OF
THURSDAY, 5 AUGUST 1982
Published by Authority

WELLINGTON: TUESDAY, 10 AUGUST 1982

NOTICE OF PRIVATE BILL
WESTPAC BANKING CORPORATION BILL 1982

The Bank of New South Wales hereby gives notice that it intends to apply for leave to bring in the above-mentioned Private Bill during the present session of Parliament.

The objects of the Bill are to provide:

(i) For the transfer to Bank of New South Wales of the undertaking in New Zealand of The Commercial Bank of Australia Ltd. (a wholly owned subsidiary of Bank of New South Wales);

(ii) For the transfer to Bank of New South Wales Savings Bank (N.Z.) Ltd. (a wholly owned subsidiary of Bank of New South Wales) of the undertaking of The Commercial Bank Savings Bank (N.Z.) Ltd. (a wholly owned subsidiary of The Commercial Bank of Australia Ltd.);

(iii) For recognition of a change of name of the Bank of New South Wales to Westpac Banking Corporation;

(iv) For the Westpac Banking Corporation to hold at all times in New Zealand assets (other than goodwill) of not less than the value of the total of that Corporation’s deposit liabilities in New Zealand;

(v) For other purposes incidental thereto and consequent thereon.

Legislation is the only means by which the above objects of the said Bill can be effected efficiently and economically and without interference with the conduct and continuity of the business of banking in the interests of The said banks, their staff, their customers, and other persons having business with them.

On a day to be appointed, the undertaking in New Zealand of The Commercial Bank of Australia Ltd. will vest in Bank of New South Wales and the undertaking of The Commercial Bank Savings Bank (N.Z.) Ltd. will vest in Bank of New South Wales Savings Bank (N.Z.) Ltd.

Certain specified excluded assets (comprising mainly land and shares in corporations) held by The Commercial Bank of Australia Ltd. or The Commercial Bank Savings Bank (N.Z.) Ltd. otherwise than by way of security and property held by The Commercial Bank of Australia Ltd. for the trustees of the C.B.A. New Zealand Staff Superannuation Fund are not to vest in Bank of New South Wales or Bank of New South Wales Savings Bank (N.Z.) Ltd.

Customers of The Commercial Bank of Australia Ltd. and The Commercial Bank Savings Bank (N.Z.) Ltd. will have the same relationship with Bank of New South Wales and Bank of New South Wales Savings Bank (N.Z.) Ltd. as they had with The Commercial Bank of Australia Ltd. and The Commercial Bank Savings Bank (N.Z.) Ltd.

The promoter of the Bill is Bank of New South Wales.

Communications or notices to the promoter may be sent to Messrs Brandons, Solicitors, Braemar, 32 The Terrace, Wellington (Telephone 726 904, Telex NZ30204, Wellington).

A copy of the Bill may be inspected at the offices set out below during normal office hours on any week day (except Saturday and Sunday):

(a) The offices of Messrs Brandons at the address stated above;

(b) The office of the General Manager for New Zealand, Bank of New South Wales, 318–324 Lambton Quay, Wellington;

(c) The office of the Manager for New Zealand, The Commercial Bank of Australia Ltd., Williams Centre, Plimmers Steps, Wellington.

BRANDONS (Solicitors), Solicitor for the Promoter.
Wellington.

3768

Price 30c

BY AUTHORITY: P. D. HASSELBERG, GOVERNMENT PRINTER, WELLINGTON, NEW ZEALAND—1982