New South Wales Consolidated Acts

PUBLIC AUTHORITIES (FINANCIAL ARRANGEMENTS) ACT 1987 - SECT 47

47 Transitional provisions applying to entities that cease to be authorities

(1) This section applies where an entity ceases to be an authority within the meaning of this Act on or after the commencement of this section, and so applies whether the entity ceases to be an authority for the purposes of:

(a) this Act generally, or

(b) particular provisions of this Act, whether or not it continues to be an authority for other provisions of this Act.

(2) Nothing in this Act affects any financial arrangements or joint venture arrangements entered into by the entity as an authority, and the entity may maintain those arrangements.

(3) The regulations may contain provisions of a savings or transitional nature consequent on an entity’s ceasing to be an authority on or after the commencement of this section.