Application of written laws to assignee
35 Application of written laws to assignee
In this section —
applicable written law —
means a written law (other than this Act) that applies to or in relation to, or refers to, the assignor; and
includes a written law that, by operation of this section, applies to or in relation to, or refers to, the assignor.
An applicable written law is to be taken (with the changes that are prescribed by the regulations or are otherwise necessary or convenient for the purpose of this Part) to apply to or in relation to, or to refer to, the assignee.
Without limiting subsection (2), the regulations may provide that a reference in an applicable written law to the assignor that relates to the market asset before the assignment occurred is to be taken to include a reference to the assignee.
This Act’s bill:Explanatory memorandumSecond reading speech
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