COAL INDUSTRY ACT 2001 - SECT 7 Transfer of specified assets, rights and liabilities of Joint Coal Board

COAL INDUSTRY ACT 2001 - SECT 7

7 Transfer of specified assets, rights and liabilities of Joint Coal Board

(1) The Minister may, by order in writing published in the Gazette, transfer any such assets, rights and liabilities of the Joint Coal Board--

(a) as were transferred to the Ministerial Holding Corporation under section 6 (1), and

(b) as are specified or referred to in the order,

to an approved company.

(2) Despite section 37B (5) and (6) of the State Owned Corporations Act 1989 , the Ministerial Holding Corporation must not dispose of any asset, right or liability (being an asset, right or liability transferred to it by this Act) otherwise than in accordance with an order of the Minister under this section.

(3) An order under this section takes effect on the date specified in the order.

(4) Schedule 2 applies to a transfer under this section.