Effect of transfer of land under this Division
36 Effect of transfer of land under this Division
No compensation is payable to any person or body in connection with the operation of this Division.
The operation of this Division 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 an instrument, or as causing or permitting the termination of any instrument, because of a change in the beneficial or legal ownership of any asset, right or liability.
The operation of this Division is not to be regarded as an event of default under any contract or other instrument.
No attornment to the Trust by a lessee from a transferor is required.
The reservation or dedication of any land under the National Parks and Wildlife Act 1974 or the Crown Land Management Act 2016 is revoked on the inclusion of a description of the land in Schedule 3.
This Act’s bill:Explanatory memorandumSecond reading speech
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