New South Wales Consolidated Acts

FISH MARKETING ACT 1994 - SECT 5

5 Negotiations and agreements for sale of business undertaking of FMA

(1) Negotiations may be conducted for the sale of the business undertaking of FMA in accordance with this Part.

(2) The Minister is authorised to enter into agreements for the sale of the business undertaking of FMA to the approved purchaser. For that purpose, the Minister may act for and on behalf of FMA.

(3) The Minister may, by order in writing, direct that any part of the business undertaking of FMA be transferred to the approved purchaser for the purpose of the sale of that undertaking in accordance with this Part.

(4) Any negotiations or agreements may be conducted or entered into before, on or after the sale date. Any such negotiations or agreements conducted or entered into before the date of assent to this Act are validated to the extent of any invalidity.

(5) However, any sale of the business undertaking of FMA to the approved purchaser may not take effect before the sale date.

(6) For the purposes of this section, the business undertaking of FMA does not include assets, rights or liabilities excluded from sale under section 8.