Thoroughbred Racing Act 1996

The following provisions have effect with respect to any asset, right or liability transferred by operation of this Part—

the asset vests in the AJCPC by virtue of this clause and without the need for any conveyance, transfer, assignment or assurance,

the right or liability becomes by virtue of this clause the right or liability of the AJCPC,

all proceedings relating to the asset, right or liability commenced before the transfer day by or against the AJC and pending immediately before the transfer day are taken to be proceedings pending by or against the AJCPC,

any act, matter or thing done or omitted to be done in relation to the asset, right or liability before the transfer day by, to or in respect of the AJC is (to the extent that the act, matter or thing has any force or effect) taken to have been done or omitted by, to or in respect of the AJCPC,

a reference in any Act, in any instrument made under any Act or in any document of any kind to the AJC is (to the extent that it relates to the asset, right or liability but subject to any regulations under this Schedule) to be read as, or as including, a reference to the AJCPC.

The operation of this Part is not to be regarded—

as a breach of contract or confidence or otherwise as a civil wrong, or

as a breach of any contractual provision prohibiting, restricting or regulating the assignment or transfer of assets, rights or liabilities, or

as giving rise to any remedy by a party to a contract or instrument, or as causing or permitting the termination of any contract or instrument, because of a change in the beneficial or legal ownership of any asset, right or liability, or

as an event of default under any contract or instrument.

No attornment to the AJCPC by a lessee from the AJC is required.