Meaning of port assets
4 Meaning of port assets
Port assets means any of the following:
(a) the assets, rights and liabilities of the Darwin Port Corporation;
(b) any assets, rights and liabilities of any other public sector entity that:
relate to, or are connected with, the Port of Darwin; and
(ii) are designated by the Chief Minister under section 9(2) as port assets for this Act.
(2) Assets, rights and liabilities transferred to a public sector entity for the purposes of an authorised transaction that were port assets immediately before their transfer continue to be port assets after that transfer.
(3) Assets, rights and liabilities cease to be port assets when they are transferred (otherwise than under a lease or licence) to a private sector entity for the purposes of an authorised transaction.
This Act’s bill:Explanatory statementSecond reading speech
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