169
CurrentSubstitution of party to agreement
Part 13Transitional provisions—transfer of certain VCA functions etc.
Division 2Allocation of property etc.
169 Substitution of party to agreement
If, under an allocation statement, the rights and liabilities of VCA under an agreement are allocated to the new corporation—
(a)
the new corporation becomes, on the appointed day, a party to the agreement in place of VCA; and
S. 169(b) amended by No. 85/2003 s. 20(c).
(b)
on and after the appointed day, the agreement has effect as if the new corporation had always been a party to the agreement.
New s. 170 inserted by No. 23/2003 s. 24, amended by No. 85/2003 s. 20(c).
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