107
CurrentSubstitution of party to agreement
Part 8Transfer of property by port authorities to certain port corporations
Division 4General
107 Substitution of party to agreement
Where, under section 100 or an allocation statement, the rights and liabilities of a port authority under an agreement vest in or are allocated to a transferee in accordance with that section or a direction under section 101—
(a)
the transferee becomes, on the relevant date, a party to the agreement in place of the transferor; and
(b)
on and after the relevant date, the agreement has effect as if the transferee had always been a party to the agreement.
S. 108 amended by No. 63/1997 s. 7(2).
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