6
CurrentTransfer subject to encumbrances
Part 2Repeal of Cladding Safety Victoria Act 2020 and abolition of Cladding Safety Victoria
Division 1Repeal and abolition
6 Transfer subject to encumbrances
If, under this Act, property, rights and liabilities of Cladding Safety Victoria become property, rights and liabilities of the VBA—
(a)
the property and rights become property and rights of the VBA subject to any encumbrance to which they were subject immediately before the commencement day; and
(b)
the rights to which Cladding Safety Victoria was entitled in respect of those liabilities immediately before they ceased to be its liabilities become rights in respect of liabilities of the VBA.
This Act’s bill:Explanatory memorandumSecond reading speech
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