Western Australian Consolidated Acts Western Australian Consolidated Acts (1) For the purposes
of this Act full privatisation occurs if, in accordance with a privatisation
order under section 7 —
(a) all
of the shares in Bank of Western Australia Ltd become, after the day of
privatisation, owned by persons other than the State; or
(b) the
business that is conducted by Bank of Western Australia Ltd becomes, after the
day of privatisation, owned by one or more corporations all of the shares in
which are held by persons other than the State.
(2) For the purposes
of this Act partial privatisation occurs if, in accordance with a
privatisation order under section 7 —
(a) some
of the shares in Bank of Western Australia Ltd continue, after the day of
privatisation, to be owned by the State; or
(b) the
business that is conducted by Bank of Western Australia Ltd becomes, after the
day of privatisation, owned by one or more corporations some of the shares in
which are held by the State.
(3) References in
subsections (1) and (2) to the State do not include a public authority
that acquires shares in the Bank on or after the day of privatisation.