Effect of compensation claim in relation to acquisition of security rights
25 Effect of compensation claim in relation to acquisition of security rights
This section applies if—
a security right has been acquired by the Territory from a securityholder; and
the securityholder makes a claim for compensation in relation to the acquisition.
The acquisition is taken, on the acquisition day, to have—
discharged and released the public hospital land, public hospital assets and Calvary’s interests in the network agreements from the security; and
discharged and released the liability of Calvary under the security to the extent attributable to the public hospital land, public hospital assets and Calvary’s interests in the network agreements; and
discharged and released Calvary and its related corporations from the obligation to pay or repay to the securityholder an amount equal to the amount of compensation paid to or for the account of the securityholder.
On the giving of the compensation to the securityholder, the securityholder must, if required by Calvary and at the expense of Calvary, execute a discharge to the extent provided for in subsection (2).
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.