Conditions of transfer (or re-transfer)
10 Conditions of transfer (or re-transfer)
The Treasurer may, by order in writing, fix the conditions on which assets or liabilities are transferred to (or re-transferred from) Newco or a Newco subsidiary under this Act.
An order under this section must be made within the transfer period and may be varied or revoked by the Treasurer by further order made within that period.
The conditions of transfer (or re-transfer) may, for example, do one or more of the following—
assign a value to particular assets, or assets of a particular class;
assign a value to particular liabilities, or liabilities of a particular class;
assign a net value to particular assets and liabilities, or assets and liabilities of particular classes;
impose on the transferee of assets, or assets and liabilities, a liability (in terms set out in the order) to the body from which transfer is made reflecting the value or net value assigned by the Treasurer to the assets, or the assets and liabilities.
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