Australian National Railways Commission Sale Act 1997

This section applies if, as a result of a declaration made by the Minister for Finance under this Act, a person (the successor) becomes the successor in law of another person (the original person) at a particular time in relation to a particular asset, liability, right, benefit or obligation.

If any proceedings to which the original person was a party:

were pending in any court or tribunal immediately before that time; and

related, in whole or in part, to the asset, liability, right, benefit or obligation, as the case may be;

then, unless the Minister for Finance otherwise determines in writing in relation to the proceedings, the successor is, by force of this subsection, substituted for the original person as a party to the proceedings to the extent to which the proceedings relate to the asset, liability, right, benefit or obligation, as the case requires.

67AZU Operation of this Part does not place a person in breach of contract etc.

To avoid doubt, the operation of this Part is not to be regarded as:

placing a person in breach of contract or confidence; or

otherwise making a person guilty of a civil wrong; or

placing a person in breach of, or constituting a default under, any Act or other law or any provision in an agreement, arrangement or understanding including, but not limited to, any contractual provision prohibiting, restricting or regulating:

the assignment or transfer of any asset, liability, right or obligation; or

the disclosure of any information; or

releasing any surety from any of the surety's obligations in relation to a liability or obligation that is transferred under a declaration made under this Part; or

fulfilling any condition which:

allows a person to terminate any agreement or obligation; or

modifies the operation or effect of any agreement; or

requires any money to be paid before its stated maturity.