Treasurer may direct transfer of property etc.
166 Treasurer may direct transfer of property etc.
The Treasurer, after consultation with the Minister, may give a direction in writing to VCA directing it to transfer, in accordance with the direction, property, rights and liabilities of a specified kind to the new corporation.
Within 21 days after receiving a direction under subsection (1), VCA must give to the Treasurer a statement approved by the Treasurer relating to the property, rights and liabilities of VCA to which the direction relates, as at a date specified by the Treasurer, for the purposes of this section.
A statement under this section—
must allocate the property, rights and liabilities of VCA shown in the statement in accordance with the directions of the Treasurer; and
must be signed by the chief executive officer of VCA.
S. 166(3A) inserted by No. 85/2003 s. 21.
The Treasurer, after consultation with the Minister, may at any time direct the VCA to amend a statement given to him or her under this section as specified in the direction.
S. 166(3B) inserted by No. 85/2003 s. 21.
An allocation statement under this section may be amended by writing signed by the Treasurer and the Minister.
S. 166(3C) inserted by No. 85/2003 s. 21.
An amendment under subsection (3B) to an allocation statement made after the appointed day in relation to that statement may be made with effect from the appointed day if the Treasurer and the Minister are satisfied that the amendment does not adversely affect any property, rights or liabilities of a person other than the VCA or the new corporation in relation to that statement.
If a statement under this section is approved by the Treasurer and the Minister—
the Treasurer and the Minister must sign the statement; and
the statement is an allocation statement for the purposes of this Part.
New s. 167 inserted by No. 23/2003 s. 24.
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