Effect of transfer of institutional private trust land
25 Effect of transfer of institutional private trust land
Any land that is transferred to the Crown under this Division becomes Crown land.
Note.
See section 1.10 (When land becomes Crown land because of this Act).
Subclause (1) is subject to clause 24 (4).
On the vesting of institutional private trust land in the Crown under this Division, any assets, rights or liabilities in relation to the land, or in relation to the trustees of the land in their capacity as trustees, become the assets, rights or liabilities of the Crown.
The Minister may, by written order, transfer any assets, rights or liabilities that become those of the Crown by operation of subclause (3) to a person who has been appointed as the Crown land manager for the land vested in the Crown.
Schedule 6 applies to the transfer of assets, rights and liabilities under this clause.
This Act’s bill:Explanatory memorandumSecond reading speech
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