Transfer of assets, rights and liabilities to National Heavy Vehicle Regulator
105A Transfer of assets, rights and liabilities to National Heavy Vehicle Regulator
The Minister may, by written order, direct that the assets, rights or liabilities of TfNSW be transferred to the National Heavy Vehicle Regulator.
The Minister may, by written order, further direct the transfer of assets, rights or liabilities previously transferred under this section.
An order under this section may be subject to specified terms and conditions.
Schedule 4 applies to the transfer of assets, rights and liabilities under this section.
Words and expressions used in this section have the same meanings as they have in Schedule 4.
The power to transfer an asset by means of an order under this section includes the power to transfer an interest in the asset.
The transfer of an interest in an asset operates to create the interest in the terms specified in the order if the interest does not already exist as a separate interest.
This Act’s bill:Explanatory memorandum
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