118
CurrentTransfer of assets etc not otherwise disposed of—div 9.6 authorities
Part 8Financial provisions for territory authorities
Division 9.6Restructuring of territory authorities
118 Transfer of assets etc not otherwise disposed of—div 9.6 authorities
(1)
This section applies in relation to an asset, right or liability of a division 9.6 authority if—
(a)
the authority ceases to exist; and
(b)
apart from this section, division 9.7 would not apply in relation to the authority; and
(c)
the asset, right or liability has not been disposed of after the authority ceases to exist.
(2)
Division 9.7 applies in relation to the division 9.6 authority as if it were a division 9.7 authority, but only in relation to the asset, right or liability that has not been disposed of.
This Act’s bill:Explanatory statement
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