6.2.5
CurrentTransfer subject to encumbrances
Chapter 6Repeals, amendments, savings and transitionals
Part 6.2Education and Training Reform Amendment (Victorian Academy of Teaching and Leadership) Act 2021—Transfer of property, rights and liabilities
6.2.5 Transfer subject to encumbrances
S. 6.2.5 inserted by No. 32/2021 s. 9.
If under this Part property, rights and liabilities of the State referred to in section 6.2.3(1) vest in or become property, rights and liabilities of the Academy—
(a)
the property and rights vest in the Academy subject to the encumbrances (if any) to which they were subject immediately before so vesting; and
(b)
the rights to which the State was entitled in respect of those liabilities immediately before they became liabilities of the Academy, vest in the Academy.
This Act’s bill:Explanatory memorandumSecond reading speech
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