New South Wales Consolidated Acts

SYDNEY MARKET AUTHORITY (DISSOLUTION) ACT 1997 - SECT 19

19 Special provisions with respect to transfer of staff and assets

(1) Neither the operation of this Part nor a sale agreement is 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) Neither the operation of this Part nor a sale agreement is to be regarded as an event of default under any contract or other instrument.

(3) No attornment to a person to whom any asset is transferred under this Part by a lessee from the transferor is required.