19
In forceEffect of arrangements internal to transferors
Part 3Implementing disposal
Division 1Transfer orders
19 Effect of arrangements internal to transferors
(1)
An instrument that provides for arrangements between different parts of the transferor’s business or undertaking may be specified in a transfer order as if it created contractual rights and liabilities.
(2)
An instrument specified as described in subsection (1) is to be regarded as if its provisions were contractual provisions between different legal entities.
(3)
A contractual right or liability that is to be regarded as arising because of subsection (2) is transferable under this Division.
This Act’s bill:Explanatory memorandumSecond reading speech
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