New South Wales Consolidated Acts

SOUTH-WEST TABLELANDS WATER SUPPLY ADMINISTRATION (REPEAL) ACT 1997 - SCHEDULE 1

SCHEDULE 1 – Transfer of assets, rights and liabilities

(Section 4)

1 Definition

In this Schedule, "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.

2 Application and interpretation

(1) This Schedule applies to the following orders:

(a) an order under section 4 (1) transferring assets, rights and liabilities of the Water Supply Administrator to the County Council,

(b) an order under section 4 (3) transferring assets, rights and liabilities of the State to the County Council.

(2) This Schedule also applies to the transfer of assets, rights and liabilities to the State by the operation of section 4 (2) and so applies as if that subsection were an order to which this Schedule applies taking effect when that subsection takes effect.

(3) In this Schedule, the body from whom assets, rights or liabilities are so transferred is called the "transferor" and the body to whom they are being so transferred is called the "transferee".

3 Vesting of undertaking in transferee

When any assets, rights or liabilities are transferred by an order to which this Schedule applies, the following provisions have effect (subject to the order):

(a) those assets of the transferor vest in the transferee by virtue of this Schedule and without the need for any conveyance, transfer, assignment or assurance,

(b) those rights or liabilities of the transferor become by virtue of this Schedule the rights or liabilities of the transferee,

(c) all proceedings relating to those assets, rights or liabilities commenced before the transfer by or against the transferor or a predecessor of the transferor and pending immediately before the transfer are taken to be proceedings pending by or against the transferee,

(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 transferor is (to the extent that that act, matter or thing has any force or effect) taken to have been done or omitted by, to or in respect of the transferee,

(e) a reference in any Act, in any instrument made under any Act or in any document of any kind to the transferor or a predecessor of the transferor is (to the extent that it relates to those assets, rights or liabilities but subject to the regulations or other provisions under Schedule 3), to be read as, or as including, a reference to the transferee.

4 Operation of Schedule

(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 transferee by a lessee from the transferor is required.

(4) No compensation is payable to any person in connection with a transfer to which this Schedule refers.

(5) In this clause, a reference to the operation of this Schedule includes a reference to the making of an order to which this Schedule applies.

5 Date of vesting

An order to which this Schedule applies takes effect on the date specified in the order.

6 Consideration for vesting

An order to which this Schedule applies may specify the consideration on which the order is made and the value or values at which the assets, rights or liabilities are transferred.

7 Stamp duty

Stamp duty is not chargeable in respect of:

(a) the transfer of assets, rights and liabilities to which this Schedule applies, or

(b) anything certified by the Minister as having been done in consequence of such a transfer (for example, the transfer or registration of an interest in land).

8 Confirmation of vesting

(1) The Minister may, by notice in writing, confirm a transfer of particular assets, rights or liabilities by the operation of this Act.

(2) Such a notice is conclusive of that transfer.