Transfer of assets etc of Qualco-Sunlands District Drainage Incorporated to Trust
6 Transfer of assets etc of Qualco-Sunlands District Drainage Incorporated to Trust
On the commencement of this section, the property and rights of
Qualco-Sunlands District Drainage Incorporated comprising or related to the
Scheme infrastructure are divested from that body and vest in the
Trust.
On the commencement of this section, the liabilities of
Qualco-Sunlands District Drainage Incorporated incurred under contracts for or in relation to the construction of the Scheme infrastructure cease to be liabilities of that body and become liabilities of the
Trust.
The persons who were, immediately before the commencement of this section, employed by Qualco-Sunlands District Drainage Incorporated will, at the commencement of this section, be taken to be employed (and to have been employed since the commencement of their employment with Qualco-Sunlands
District Drainage Incorporated) by the Trust on the terms and conditions of their employment by Qualco-Sunlands District Drainage
Incorporated.
This Act’s bill:Second reading speech
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