Vesting of assets of Murray‑Darling Basin Commission
239C Vesting of assets of Murray‑Darling Basin Commission
On the commencement of this Part, the transitional assets of the Murray‑Darling Basin Commission immediately before that commencement:
cease to be assets of the Murray‑Darling Basin Commission; and
become assets of the Authority without any conveyance, transfer or assignment.
The Authority becomes the successor in law in relation to the transitional assets.
A transitional asset is:
any legal or equitable estate or interest in real or personal property, whether actual, contingent or prospective; or
any right, power, privilege or immunity, whether actual, contingent or prospective;
but does not include a right, power, privilege or immunity conferred by:
an Act; or
regulations or other subordinate legislation made under an Act; or
the Murray‑Darling Basin Act 1992 of New South Wales; or
the Murray‑Darling Basin Act 1993 of Victoria; or
the Murray‑Darling Basin Act 1996 of Queensland; or
the Murray‑Darling Basin Act 1993 of South Australia; or
the former MDB Agreement.
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