Commonwealth Consolidated Acts

ALBURY-WODONGA DEVELOPMENT ACT 1973 - SECT 20D

             (1)  It is the intention of the Parliament that a law of New South Wales or Victoria may:

                     (a)  transfer an asset from the relevant State body to the Corporation; and

                     (b)  provide for matters incidental to the transfer.

             (2)  Such a transfer may be by way of a provision that vests the asset in the Corporation without any conveyance, assignment or instrument of transfer.

Minister must consent to transfer

             (3)  However, a law of New South Wales or Victoria is not effective to transfer the asset from the relevant State body to the Corporation unless the Minister, by notice in the Gazette , consents to the transfer of:

                     (a)  the asset; or

                     (b)  a class of assets in which the asset is included.

Matters incidental to transfer

             (4)  The following are examples of matters incidental to the transfer of an asset from a relevant State body to the Corporation:

                     (a)  that an instrument relating to the asset continues to have effect after the asset vests in the Corporation as if a reference in the instrument to the relevant State body were a reference to the Corporation;

                     (b)  that the Corporation becomes the successor in law of the relevant State body in relation to an asset immediately after the asset vests in the Corporation;

                     (c)  if any proceedings to which the relevant State body was a party:

                              (i)  were pending in any court or tribunal immediately before the transfer; and

                             (ii)  related, in whole or in part, to the asset;

                            that the Corporation is substituted for the relevant State body as a party to the proceedings to the extent to which the proceedings relate to the asset.