New South Wales Consolidated Acts

PORTS AND MARITIME ADMINISTRATION ACT 1995 - SECT 16

16 Transfer of MSB port assets, rights and liabilities

(1) The Minister may, by order in writing, direct that such assets, rights and liabilities of the MSB or any MSB subsidiary, as are specified or referred to in the order, be transferred to a Port Corporation so specified.

(2) Under such transfers:

(a) assets, rights and liabilities relating to the port of Newcastle may be transferred to Newcastle Port Corporation, and

(b) assets, rights and liabilities relating to the port of Port Kembla may be transferred to Port Kembla Port Corporation, and

(c) assets, rights and liabilities relating to the ports of Sydney Harbour and Botany Bay may be transferred to Sydney Ports Corporation.

(3) The freehold title to land that comprises the bed of the waters of a port is not to be transferred to a Port Corporation under this section. However, this subsection does not prevent the transfer to a Port Corporation of the ownership of any facility installed on the bed of those waters.

(4) Assets, rights or liabilities may not be transferred under this section to a Port Corporation unless the Port Corporation is a statutory State owned corporation.

(5) Schedule 1 applies to an order under this section.

(6) For the purposes of this section, the assets, rights and liabilities of the MSB or any MSB subsidiary include:

(b) any assets, rights or liabilities used by or attaching to the MSB or any MSB subsidiary and belonging to the State or an authority of the State.

(7) Section 20C of the State Owned Corporations Act 1989 does not apply to the assets, rights or liabilities of the MSB or an MSB subsidiary.