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This is a Bill, not an Act. For current law, see the Acts databases.
Western Australia
Bank of Western Australia Amendment
Bill 2012
CONTENTS
Part 1 -- Preliminary
1. Short title 2
2. Commencement 2
Part 2 -- Bank of Western Australia
Act 1995 amended
3. Act amended 3
4. Long title amended 3
5. Section 19 amended 3
6. Section 26A inserted 3
26A. Expiry of Division 3
7. Part 5A inserted 4
Part 5A -- Provisions relating to transfer of
BWA business and conduct of
Bankwest business
Division 1 -- Preliminary
42A. Terms used 4
42B. Transfer of BWA business to CBA 5
42C. More than one owner of Bankwest
business 5
Division 2 -- Long term obligations
42D. Banking business to be carried on using
Bankwest name 6
42E. Type and scale of Bankwest business 6
42F. Head office of Bankwest business 6
42G. Managing officer of Bankwest business 6
42H. Use of names 6
42I. Records 7
272--2 page i
Bank of Western Australia Amendment Bill 2012
Contents
Division 3 -- Obligations relating to 5 year period
after transfer day
42J. Minimum points of presence 7
42K. Points of presence in regional areas 7
42L. Head office personnel 8
42M. Local sponsorship and community
development initiatives 8
Division 4 -- Monitoring compliance
42N. Certificate as to compliance 9
42O. Minister may require information 10
Division 5 -- Enforcement of Divisions 2, 3 and 4
42P. Methods of enforcement 11
42Q. Injunctions 11
42R. Monetary penalties 12
Division 6 -- Other provisions
42S. Notification of transfer day 14
42T. Certain matters excluded from operation
of Corporations Act 2001
(Commonwealth) 14
Part 3 -- Freedom of Information
Act 1992 amended
8. Act amended 15
9. Schedule 1 amended 15
4A. Information provided under Bank of
Western Australia Act 1995 15
page ii
Western Australia
LEGISLATIVE COUNCIL
(As amended during consideration in detail)
Bank of Western Australia Amendment
Bill 2012
A Bill for
An Act to amend the Bank of Western Australia Act 1995 and to
make a consequential amendment to the Freedom of Information
Act 1992.
The Parliament of Western Australia enacts as follows:
page 1
Bank of Western Australia Amendment Bill 2012
Part 1 Preliminary
s. 1
1 Part 1 -- Preliminary
2 1. Short title
3 This is the Bank of Western Australia Amendment Act 2012.
4 2. Commencement
5 This Act comes into operation as follows --
6 (a) Part 1 -- on the day on which this Act receives the
7 Royal Assent;
8 (b) the rest of the Act -- on a day fixed by proclamation,
9 and different days may be fixed for different provisions.
page 2
Bank of Western Australia Amendment Bill 2012
Bank of Western Australia Act 1995 amended Part 2
s. 3
1 Part 2 -- Bank of Western Australia Act 1995 amended
2 3. Act amended
3 This Part amends the Bank of Western Australia Act 1995.
4 4. Long title amended
5 In the long title after "privatisation," insert:
6
7 to make provisions relating to the transfer of the bank's
8 business and the conduct of an ongoing banking business,
9
10 5. Section 19 amended
11 In section 19 delete the definition of Bank and insert:
12
13 Bank means the public company registered under the
14 Corporations Act 2001 (Commonwealth) by the name
15 "Bank of Western Australia Ltd";
16
17 6. Section 26A inserted
18 At the end of Part 3 Division 3 insert:
19
20 26A. Expiry of Division
21 This Division expires at the beginning of the transfer
22 day (as defined in section 42A).
23
page 3
Bank of Western Australia Amendment Bill 2012
Part 2 Bank of Western Australia Act 1995 amended
s. 7
1 7. Part 5A inserted
2 After Part 4 insert:
3
4 Part 5A -- Provisions relating to transfer of
5 BWA business and conduct of
6 Bankwest business
7 Division 1 -- Preliminary
8 42A. Terms used
9 In this Part --
10 Bankwest business means the banking business carried
11 on using the Bankwest name in accordance with
12 section 42D(1);
13 Bankwest name means --
14 (a) the name "Bankwest"; or
15 (b) any other name used by Bank of Western
16 Australia Ltd in the conduct of the
17 BWA business before the transfer day; or
18 (c) a name that is substantially similar to, or a
19 derivative of, a name referred to in
20 paragraph (a) or (b);
21 Bankwest owner means the person who, from time to
22 time, owns the Bankwest business;
23 BWA business means the banking business conducted
24 by Bank of Western Australia Ltd ACN 050 494 454;
25 CBA means Commonwealth Bank of Australia
26 ACN 123 123 124;
27 head office, of the Bankwest business, means the place
28 where day-to-day management of that business is
29 carried out;
page 4
Bank of Western Australia Amendment Bill 2012
Bank of Western Australia Act 1995 amended Part 2
s. 7
1 managing officer, of the Bankwest business, means the
2 person responsible for the day-to-day management of
3 that business;
4 point of presence means premises used principally for
5 the conduct of the Bankwest business with members of
6 the public, and includes premises described as a
7 Bankwest branch, Bankwest store or Bankwest
8 business centre, but does not include the following --
9 (a) an automatic teller machine;
10 (b) premises described as a neighbourhood bank;
11 (c) premises at which that business is conducted
12 pursuant to an agency agreement;
13 points of presence threshold means 88 points of
14 presence;
15 relevant period means the period of 5 years after the
16 transfer day;
17 transfer day means the day on which the certificate of
18 transfer relating to the transfer of the BWA business to
19 CBA comes into force under the Financial Sector
20 (Business Transfer and Group Restructure) Act 1999
21 (Commonwealth) Part 3 Division 3.
22 42B. Transfer of BWA business to CBA
23 Nothing in this Act prevents the transfer of the BWA
24 business to CBA under the Financial Sector (Business
25 Transfer and Group Restructure) Act 1999
26 (Commonwealth).
27 42C. More than one owner of Bankwest business
28 If, at a particular time, the Bankwest business is owned
29 by 2 or more persons, the obligations imposed by this
30 Part on the Bankwest owner are imposed on each of
31 those persons jointly and severally and are enforceable
32 accordingly.
page 5
Bank of Western Australia Amendment Bill 2012
Part 2 Bank of Western Australia Act 1995 amended
s. 7
1 Division 2 -- Long term obligations
2 42D. Banking business to be carried on using Bankwest
3 name
4 (1) CBA must, on and after the transfer day, carry on in
5 Western Australia a banking business using the
6 Bankwest name.
7 (2) Subsection (1) does not prevent the transfer of the
8 Bankwest business to another person.
9 (3) If the Bankwest business is transferred to another
10 person, the obligation imposed by subsection (1)
11 becomes an obligation of the Bankwest owner.
12 42E. Type and scale of Bankwest business
13 The Bankwest owner must ensure that the Bankwest
14 business is of substantially the same type as, and is
15 conducted on a scale not significantly less than, the
16 BWA business in Western Australia as at
17 30 June 2011.
18 42F. Head office of Bankwest business
19 The Bankwest owner must ensure that the head office
20 of the Bankwest business is located in Western
21 Australia.
22 42G. Managing officer of Bankwest business
23 The Bankwest owner must ensure that the managing
24 officer of the Bankwest business, while holding office,
25 is ordinarily resident in Western Australia.
26 42H. Use of names
27 (1) The Bankwest owner must not use any name in
28 connection with the Bankwest business that suggests it
29 is associated with the Government.
page 6
Bank of Western Australia Amendment Bill 2012
Bank of Western Australia Act 1995 amended Part 2
s. 7
1 (2) The use of the Bankwest name does not contravene
2 subsection (1).
3 42I. Records
4 The Bankwest owner must ensure that sufficient
5 records of the Bankwest business are kept in Western
6 Australia to enable the Bankwest owner to comply with
7 any notice given to it under section 42O(2).
8 Division 3 -- Obligations relating to 5 year period after
9 transfer day
10 42J. Minimum points of presence
11 (1) The Bankwest owner must ensure that, at all times
12 during the relevant period, the number of points of
13 presence in Western Australia is equal to or greater
14 than the points of presence threshold except to the
15 extent that the Minister approves in writing.
16 (2) The Minister must not give approval for the purposes
17 of subsection (1) unless the Minister is satisfied that
18 any proposed reduction below the points of presence
19 threshold is consistent with market trends in the
20 financial services industry.
21 42K. Points of presence in regional areas
22 (1) The Bankwest owner must not, at any time during the
23 relevant period, close a point of presence that --
24 (a) is not in the metropolitan region as defined in
25 the Planning and Development Act 2005
26 section 4(1); and
27 (b) is not in the Mandurah local government
28 district.
page 7
Bank of Western Australia Amendment Bill 2012
Part 2 Bank of Western Australia Act 1995 amended
s. 7
1 (2) Subsection (1) does not prevent the closure of a point
2 of presence if the closure results from --
3 (a) the relocation of the point of presence to a place
4 within 5 km of its previous location; or
5 (b) the amalgamation of the point of presence with
6 another point of presence within 5 km of its
7 previous location.
8 (3) In subsection (2) --
9 previous location means the place where the point of
10 presence was located immediately before the closure.
11 42L. Head office personnel
12 The Bankwest owner must ensure that, for the relevant
13 period, the following functional positions (however
14 they may be designated) are maintained at the head
15 office of the Bankwest business --
16 (a) chief information officer for that business;
17 (b) chief financial officer for that business;
18 (c) chief risk officer for that business;
19 (d) head of human resources for that business.
20 42M. Local sponsorship and community development
21 initiatives
22 The Bankwest owner must ensure that, in each year of
23 the relevant period, the Bankwest business expends an
24 aggregate amount on local sponsorship and community
25 development initiatives in Western Australia that is not
26 less than the aggregate amount expended on such
27 initiatives by the BWA business in the year ending on
28 30 June 2011.
page 8
Bank of Western Australia Amendment Bill 2012
Bank of Western Australia Act 1995 amended Part 2
s. 7
1 Division 4 -- Monitoring compliance
2 42N. Certificate as to compliance
3 (1) The Bankwest owner must, within 90 days after the
4 end of each financial year of the Bankwest business,
5 give the Minister a certificate to the effect that it has
6 complied with the obligations imposed by this Part.
7 (2) The certificate must be --
8 (a) signed by the managing officer of the Bankwest
9 business and the chief financial officer of the
10 Bankwest owner; and
11 (b) verified by each of those persons by statutory
12 declaration; and
13 (c) laid before each House of Parliament by the
14 Minister or dealt with in accordance with
15 subsection (3) within 30 days after receipt of
16 the certificate referred to in subsection (1).
17 (3) If --
18 (a) a House of Parliament is not sitting at the
19 commencement of the period referred to in
20 subsection 2(c) in respect of a certificate; and
21 (b) the Minister is of the opinion that that House
22 will not sit during that period,
23 the Minister is to transmit a copy of the certificate to
24 the Clerk of that House.
25 (4) A copy of a certificate transmitted to the Clerk of a
26 House is to be taken to have been laid before that
27 House.
28 (5) The laying of a copy of a certificate that is regarded as
29 having occurred under subsection (4) is to be recorded
30 in the Votes and Proceedings, or Minutes, of the House
31 on the first sitting day of the House after the Clerk
32 received the copy.
page 9
Bank of Western Australia Amendment Bill 2012
Part 2 Bank of Western Australia Act 1995 amended
s. 7
1 42O. Minister may require information
2 (1) In this section --
3 business information means statistical information
4 about the operation of the Bankwest business as at
5 30 June or 31 December in a particular year, including
6 information about the following --
7 (a) points of presence in Western Australia;
8 (b) the number of customers in Western Australia
9 and the gross value of the business with those
10 customers;
11 (c) the number of full-time equivalent employees
12 in Western Australia.
13 (2) The Minister may, by written notice, require the
14 Bankwest owner to give business information to the
15 Minister for the purpose of enabling the Minister to
16 assess the Bankwest owner's compliance with the
17 obligations imposed by this Part.
18 (3) A notice under subsection (2) must give a brief
19 description of the business information sought.
20 (4) The Bankwest owner must comply with a notice under
21 subsection (2) within --
22 (a) 60 days after the notice is given; or
23 (b) any longer period that the Minister, in a
24 particular case, allows.
25 (5) The Minister must not disclose information provided in
26 compliance with a notice under subsection (2) for any
27 purpose other than the purpose for which it was given
28 unless the disclosure is authorised by subsection (6).
29 (6) The disclosure is authorised if --
30 (a) it is made with the consent of the Bankwest
31 owner; or
page 10
Bank of Western Australia Amendment Bill 2012
Bank of Western Australia Act 1995 amended Part 2
s. 7
1 (b) it is required under another written law; or
2 (c) it is made for the purpose of --
3 (i) answering a question asked in a House
4 of Parliament; or
5 (ii) complying with an order or resolution of
6 a House of Parliament that requires
7 information to be given to a House of
8 Parliament.
9 (7) Before making a disclosure authorised by
10 subsection (6)(b) or (c), the Minister must give the
11 Bankwest owner written notice of the proposed
12 disclosure if it is reasonably practicable to do so.
13 Division 5 -- Enforcement of Divisions 2, 3 and 4
14 42P. Methods of enforcement
15 (1) The obligations imposed by Divisions 2 and 4 are
16 enforceable under section 42Q and not otherwise.
17 (2) The obligations imposed by Division 3 are enforceable
18 under section 42R and not otherwise.
19 42Q. Injunctions
20 (1) The Supreme Court may, on the application of the
21 Minister, grant an injunction in such terms as the court
22 thinks fit where the court is satisfied that the Bankwest
23 owner --
24 (a) has done or omitted to do or is proposing or
25 attempting to do or omit to do any thing that
26 amounts to, or would amount to, a
27 contravention of a provision of Division 2 or 4;
28 or
29 (b) is involved in a contravention of a provision of
30 Division 2 or 4.
page 11
Bank of Western Australia Amendment Bill 2012
Part 2 Bank of Western Australia Act 1995 amended
s. 7
1 (2) An interim or interlocutory injunction may be granted
2 before final determination of an application.
3 (3) If the Minister applies to the Supreme Court for an
4 injunction under this section, the court is not to require
5 the Minister, as a condition of granting an interim
6 injunction, to give an undertaking as to damages.
7 (4) A reference in subsection (1) to a person being
8 involved in a contravention is a reference to a person
9 who --
10 (a) has aided, abetted, counselled or procured the
11 contravention; or
12 (b) has induced the contravention, whether by
13 threats or promises or otherwise; or
14 (c) has been in any way, directly or indirectly,
15 knowingly concerned in, or party to, the
16 contravention; or
17 (d) has conspired with others to effect the
18 contravention; or
19 (e) has attempted to do any act of a kind referred to
20 in paragraph (a), (b), (c) or (d).
21 42R. Monetary penalties
22 (1) If the Minister believes on reasonable grounds that the
23 Bankwest owner is contravening or has contravened a
24 provision of Division 3, the Minister may give the
25 Bankwest owner a notice (a contravention notice) --
26 (a) specifying the provision that the Minister
27 believes is being or has been contravened; and
28 (b) containing a brief description of the
29 contravention; and
30 (c) stating that the Bankwest owner has a period of
31 28 days after the contravention notice is given
32 within which to satisfy the Minister that the
page 12
Bank of Western Australia Amendment Bill 2012
Bank of Western Australia Act 1995 amended Part 2
s. 7
1 contravention is not occurring or has not
2 occurred.
3 (2) A contravention notice may relate to more than one
4 contravention.
5 (3) If the Bankwest owner fails to satisfy the Minister that
6 a contravention specified in a contravention notice is
7 not occurring or has not occurred, the Minister may
8 give the Bankwest owner a further notice (a penalty
9 notice) --
10 (a) specifying the contravention to which it relates;
11 and
12 (b) stating that the Bankwest owner is liable to pay
13 to the Minister an amount in respect of the
14 contravention; and
15 (c) fixing the amount that the Bankwest owner is
16 liable to pay in respect of the contravention at
17 $2 million; and
18 (d) requiring the Bankwest owner to pay the
19 amount to the Minister within 14 days after the
20 penalty notice is given.
21 (4) A penalty notice may relate to more than one
22 contravention and, if it does, the references in
23 subsection (3)(b) and (c) to the contravention are to be
24 read as references to each contravention.
25 (5) If the Bankwest owner fails to comply with the penalty
26 notice, the Minister may lodge a certified copy of it in
27 the Supreme Court.
28 (6) When lodged, the penalty notice is to be taken to be a
29 judgment of the Supreme Court for a debt payable by
30 the Bankwest owner to the Minister of an amount equal
31 to the aggregate amount fixed in the penalty notice, and
32 may be enforced accordingly.
page 13
Bank of Western Australia Amendment Bill 2012
Part 2 Bank of Western Australia Act 1995 amended
s. 7
1 (7) An amount paid to, or recovered by, the Minister under
2 this section is to be credited to the Consolidated
3 Account.
4 Division 6 -- Other provisions
5 42S. Notification of transfer day
6 (1) The Minister is to cause notification of the transfer day
7 to be published in the Gazette.
8 (2) Failure to comply with subsection (1) does not affect
9 the operation of the other provisions of this Part.
10 42T. Certain matters excluded from operation of
11 Corporations Act 2001 (Commonwealth)
12 The matters dealt with in Divisions 2 and 3 are
13 declared to be excluded matters for the purposes of the
14 Corporations Act 2001 (Commonwealth) section 5F in
15 relation to the whole of the Corporations legislation to
16 which Part 1.1A of that Act applies.
17
page 14
Bank of Western Australia Amendment Bill 2012
Freedom of Information Act 1992 amended Part 3
s. 8
1 Part 3 -- Freedom of Information Act 1992 amended
2 8. Act amended
3 This Part amends the Freedom of Information Act 1992.
4 9. Schedule 1 amended
5 Delete Schedule 1 clause 4A and insert:
6
7 4A. Information provided under Bank of Western Australia
8 Act 1995
9 Matter is exempt matter if it consists of information
10 provided to --
11 (a) the Treasurer under the Bank of Western Australia
12 Act 1995 section 22; or
13 (b) the Minister under the Bank of Western Australia
14 Act 1995 section 42O.
15
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