Minister may deal with other assets and liabilities
7 Minister may deal with other assets and liabilities
The Minister may by agreement with a person or body (a
contracting party) do one or more of the following:
transfer to the contracting party a Centre asset or a Centre liability;
grant to the contracting party a lease or other right in respect of a Centre asset;
enter into any other arrangement in respect of the management of a
Centre asset or the handling or disposal of a Centre liability.
Without limiting subsection (1), an agreement under that subsection may—
discharge an asset to which the agreement relates from any trust or other interest in favour of the Minister or the Crown;
create liabilities in accordance with its terms;
impose on the contracting party a liability to indemnify the
Minister or the Crown against specified liabilities or liabilities of a specified class;
make any other provision that the Minister considers to be appropriate in the circumstances.
An agreement under subsection (1) will have effect according to its terms and despite the provisions of any other law or instrument.
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