Allocation of property etc. subject to encumbrances—Victorian Regional Channels Authority

In force

Unless an allocation statement otherwise provides, where, under this Division—

(a)

property and rights vest in; or

(b)

liabilities become liabilities of—

the Victorian Regional Channels Authority in accordance with an allocation statement—

(c)

the property and rights so vested are subject to the encumbrances (if any) to which they were subject immediately before so vesting; and

(d)

the rights to which the Port of Melbourne Corporation was entitled in respect of those liabilities immediately before they ceased to be liabilities of the Port of Melbourne Corporation vest in the Victorian Regional Channels Authority.

S. 228 inserted by No. 38/2011 s. 21.

This Act’s bill:Explanatory memorandum Second reading speech

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227 Allocation of property etc. subject to encumbrances—Victorian Regional Channels Authority