Banking (State Bank of South Australia and Other Matters) Act 1994

Banking (State Bank of South Australia and Other Matters) Act 1994

This Act relates to banking and aims to facilitate the restructuring of the State Bank of South Australia by subjecting its successor, Bank of South Australia Limited, to regulation under the Banking Act 1959.

The Act makes several amendments to various laws, including the Banking Act 1959, Corporations Law, Privacy Act 1988, Income Tax Law, and Fringe Benefits Tax Assessment Act 1986. These amendments aim to modify the rules relating to assignment of charges, deregistration of defunct companies, modifications of the Privacy Act 1988, transfer of tax file number information, reduction of deductions allowable to Bank of South Australia Limited, and other matters.

Key provisions include:

• Section 268A of the Corporations Law, which deals with the assignment of charges under the State Bank (Corporatisation) Act 1994 of South Australia
• Section 574A, which deals with the deregistration of companies dissolved under the State Bank (Corporatisation) Act 1994 of South Australia
• The modifications to the Privacy Act 1988, including the application of section 12A and the disclosure of reports
• The amendments to the Income Tax Law, including the transfer of tax file number information and the reduction of deductions allowable to Bank of South Australia Limited
• The amendments to the Fringe Benefits Tax Assessment Act 1986, including the modification of the rules relating to car benefits

Overall, this Act aims to facilitate the restructuring of the State Bank of South Australia by modifying various laws and regulations.