Transfer subject to encumbrances
66D Transfer subject to encumbrances
Unless the Transfer Order otherwise provides, if under the Transfer Order property and rights vest in the transferee transport body or liabilities become liabilities of the transferee transport body—
the property and rights so vested are subject to the encumbrances (if any) to which they were subject immediately before so vesting; and
the rights to which the transferor transport body was entitled in respect of those liabilities immediately before they ceased to be liabilities of the transferor transport body vest in the transferee transport body.
S. 66E inserted by No. 3/2017 s. 3.
This Act’s bill:Explanatory memorandumSecond reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.