New South Wales Consolidated Acts New South Wales Consolidated Acts(Section 22)
In this Schedule:
"assets" means any legal or equitable estate or interest (whether present or
future and whether vested or contingent and whether personal or assignable) in
real or personal property of any description (including money) and includes
securities, choses in action and documents.
"instrument" means an instrument (other than this Act) that creates, modifies
or extinguishes rights or liabilities (or would do so if lodged, filed or
registered in accordance with any law), and includes any judgment, order or
process of a court.
"interest" has the same meaning as it has in the
Land Acquisition (Just Terms Compensation) Act 1991 .
"liabilities" means any liabilities, debts or obligations (whether present or
future and whether vested or contingent and whether personal or assignable).
"rights" means any rights, powers, privileges or immunities (whether present
or future and whether vested or contingent and whether personal or
assignable).
"Throsby Park Historic Site" means land at Moss Vale being Lot K, Filed Plan
109154, Lot 1, DP 580481 and Lot 4, DP 730956.
On the commencement of section 22, the following provisions have effect in relation to the assets, rights or liabilities transferred by that section:
(a) those assets of the Crown vest in the Trust by virtue of this Schedule and without the need for any conveyance, transfer, assignment or assurance,
(b) those rights and liabilities of the Crown become, by virtue of this Schedule, the rights and liabilities of the Trust,
(c) all proceedings relating to those assets, rights or liabilities commenced before the transfer by or against the Crown and pending immediately before the transfer are taken to be proceedings by or against the Trust,
(d) any act, matter or thing done or omitted to be done in relation to those assets, rights or liabilities before the transfer by, to or in respect of the Crown is (to the extent that the act, matter or thing has any force or effect) taken to have been done or omitted by, to or in respect of the Trust,
(e) the Trust has all the entitlements and obligations of the Crown in relation to those assets, rights and liabilities that the Crown would have had but for the commencement of section 22, whether or not those entitlements and obligations were actual or potential at the time of that commencement,
(f) a reference in any Act, in any instrument made under any Act or in any document of any kind to the Crown is (to the extent to that it relates to those assets, rights or liabilities), to be read as, or as including, a reference to the Trust.
(1) The operation of this Schedule is not to be regarded:(a) as a breach of contract or confidence or otherwise as a civil wrong, or(b) as a breach of any contractual provision prohibiting, restricting or regulating the assignment or transfer of assets, rights or liabilities, or(c) as giving rise to any remedy by a party to an instrument, or as causing or permitting the termination of any instrument, because of a change in the beneficial or legal ownership of any asset, right or liability.
(2) The operation of this Schedule is not to be regarded as an event of default under any contract or other instrument.
(3) No attornment to the Trust by a lessee from the Crown is required as a consequence of the operation of this Schedule.
(4) The "operation of this Schedule" includes the commencement of section 22.
(1) Despite any other provision of this or any other Act, the Trust must not sell or exchange the whole or any part of the Throsby Park Historic Site or otherwise dispose of the fee simple estate in that land, except as authorised by an Act of Parliament.
(2) The Trust may, subject to such conditions as the Trust determines, lease or otherwise dispose of an interest (other than the fee simple) in the Throsby Park Historic Site or affect or create an estate or interest in the Throsby Park Historic Site.
(3) A lease or licence granted under this clause must not have a term that, together with the term of any further lease or licence that may be granted under an option in respect of it, exceeds 99 years.
Duty under the Duties Act 1997 is not chargeable in respect of the vesting of the Throsby Park Historic Site in the Trust, or the transfer of assets, rights or liabilities to the Trust, by section 22.
If an interest in the Throsby Park Historic Site of a person (other than the State or an authority of the State) is divested by the operation of section 22:
(a) compensation is payable for the divesting of that interest, and
(b) Part 3 of the Land Acquisition (Just Terms Compensation) Act 1991 applies as if section 22 were an acquisition notice published by the Trust under that Act.