Transfer of property, rights and liabilities of VicForests to the Crown
6 Transfer of property, rights and liabilities of VicForests to the Crown
On the commencement day—
all property and rights that, immediately before that day, were vested in VicForests are vested in the Crown; and
any land for which VicForests was the registered proprietor under the Transfer of Land Act 1958 immediately before that day is taken to be unalienated land of the Crown freed and discharged from all encumbrances, limitations and restrictions and from any estate or interest in the land; and
all liabilities of VicForests existing immediately before that day become liabilities of the Crown; and
the Crown is substituted as a party to any proceeding pending in any court or tribunal to which VicForests was a party immediately before that day; and
the Crown is substituted as a party to any arrangement or contract entered into by or on behalf of VicForests as a party and in force immediately before that day.
This Act’s bill:Explanatory memorandumSecond reading speech
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