13
CurrentSubstitution of party to agreement
Part 4Land grants and allocations to approved corporation
13 Substitution of party to agreement
If, under an allocation statement, the rights and liabilities of the Society under an agreement are allocated to the approved corporation—
(a)
the approved corporation becomes, on the appointed day, a party to the agreement in place of the Society; and
(b)
on and after the appointed day, the agreement has effect as if the approved corporation had always been a party to the agreement.
This Act’s bill:Second reading speech
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