New South Wales Consolidated Acts

NSW GRAIN CORPORATION HOLDINGS LIMITED ACT 1992 - SECT 9

9 Transfer of identified assets to Crown

(1) An agreement referred to in section 5 may identify assets of Grain Holdings or Grain Corporation as assets to which this section applies.

(2) The Minister may, by order in writing, direct that any assets so identified be transferred to the Crown, on such terms and for such consideration (if any) as are specified in the order.

(3) On the commencement of the order, the identified assets vest in the Crown by virtue of this section (subject to any existing leases) and without the need for any conveyance, transfer, assignment or assurance.

(4) No attornment to the Crown by a lessee from Grain Holdings or Grain Corporation is required.

(5) Such an order may be made before, on or after the appointed day and may commence before, on or after that day.