New South Wales Consolidated Acts

HISTORIC HOUSES ACT 1980 - SECT 21

21 Transfer of assets and liabilities

(1) Where a proclamation is published under section 20 (2) and land is thereby divested from a public authority and vested in the Trust:

(a) all personal property of the public authority that, immediately before the publication, was used by the public authority in connection with the land, and all right and interest therein, and all control and management thereof, are vested in the Trust,

(b) all contracts, agreements, arrangements and undertakings entered into with, and all securities given to or by, the public authority and in force immediately before the publication shall, to the extent that they relate to the land, be deemed to be contracts, agreements, arrangements and undertakings entered into with, and securities given to or by, the Trust,

(c) the Trust may enforce and realise any security or charge existing in favour of the public authority immediately before the publication in so far as the security or charge relates to the land and may exercise and perform any powers, authorities, duties and functions thereby conferred or imposed on the public authority as if the security or charge were a security or charge in favour of the Trust, and

(d) any condition subject to which the public authority acquired any property, right or interest referred to in paragraph (a) by gift inter vivos or bequest shall be deemed to have been agreed to by the Trust under section 8 (3) as a condition upon which the property, right or interest was acquired.

(2) Any dispute between a public authority and the Trust as to the operation of subsection (1) shall be resolved by the Governor.