An Act to facilitate the merger of certain trustee companies and to provide for the amendment of the Trustee Companies Act 1953

(a) Perpetual Trustees Tasmania Limited (ACN 009 475 610) and Tasmanian Trustees Limited (ACN 009 475 629) are trustee companies within the meaning of the Trustee Companies Act 1953 and are subject to that Act; and

(b) the directors of those trustee companies have agreed to merge the companies under arrangements to be put to the members of each company for their approval; and

(c) if the members of Tasmanian Trustees Limited –

(i) approve of an implementation agreement made on 16 October 2001 between their directors and the directors of Perpetual Trustees Tasmania Limited; and

(ii) agree to change the name of Tasmanian Trustees Limited to Tasmanian Perpetual Trustees Limited –

the members of Perpetual Trustees Tasmania Limited will be asked to agree to the merger in the context of an arrangement under Part 5.1 of the Corporations Act providing for Tasmanian Perpetual Trustees Limited to acquire all of the shares in Perpetual Trustees Tasmania Limited and for the businesses of both trustee companies to be merged as a continuing business; and

(d) it is expedient to facilitate the merger of the trustee companies in accordance with the agreement:

Be it therefore enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows: