Bank Integration Act 1991

The Bank Integration Act 1991 is an Australian law that aims to facilitate the integration of certain banks. The Act was compiled on July 1, 2016, and includes amendments up to Act No. 59, 2015. It has been replaced by a revised version registered on April 19, 2024.

The Act consists of five parts: Preliminary, Steps leading to bank reorganisations, Bank reorganisations, Taxation matters, and Miscellaneous.

It sets out the short title of the Act as the Bank Integration Act 1991, which may be cited as such. The commencement date is mentioned in section 2 of the Act, stating that it commences on the day it receives the Royal Assent.

The terms 'bank', 'receiving bank', and 'transferring bank' have specific meanings within the context of the Act. The act also includes provisions to ensure the protection of depositors' interests, as well as measures for the transfer of assets and liabilities between banks.

Part 3 of the Act deals with bank reorganisations, where it sets out consequences such as succession day, translated instruments, places of business, and transferring banks losing authority to carry on banking business.

The act also includes provisions related to taxation matters, including exemptions from certain taxes and charges under section 21, and the application of the Income Tax Assessment Acts under section 22.