Allocation of property and rights subject to encumbrances

In force

Unless an allocation statement otherwise provides, where, under this Part, property and rights vest in, or liabilities become liabilities of, V/Line Corporation in accordance with an allocation statement—

(a)

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

(b)

the rights to which V/Line Pty Ltd was entitled in respect of those liabilities immediately before they ceased to be liabilities of the V/Line Pty Ltd vest in V/Line Corporation.

S. 278 inserted by No. 3/2017 s. 51.

This Act’s bill:Explanatory memorandum Second reading speech

Research tools for this sectionSubscription

Cited by Analyse Interrogate History Equivalents

The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.

277 Allocation of property and rights subject to encumbrances