Western Australian Current Acts Western Australian Current Acts (1) Without limiting
section 11(1)(d)(i), property is vested under statute law if the law vests the
property in an entity that the law states is the successor in law of,
continuation of or same entity as, the entity in which the property was
previously vested.
(2) However, property
is not vested under statute law on the registration of a company under the
Corporations Act Chapter 5B Part 5B.
(3) The merger of a
corporation ( company A ) with and into another corporation ( company B ) in
circumstances where neither subsection (4) nor subsection (5) applies is taken
to be a vesting of the property in Western Australia of company A in company B
by statute law.
(4) A merger of
corporations (the merging corporations ) in circumstances where another
corporation ( company C ) results as a consequence of the merger is taken to
be a vesting of the property in Western Australia of the merging corporations
in company C by statute law.
(5) A merger of
corporations (the merging corporations ) with and into each other in
circumstances where each of the merging corporations continues in existence is
taken to be a vesting in the merging corporations, jointly, of 50% (in value)
of the property in Western Australia of the merging corporations by statute
law.
[ 13. Deleted: No. 37 of 2022 s. 6.]