(a) has such of the functions of the
transport authority in respect of which it is constituted as are specified in
the regulations or delegated to it under this Act, and
(b) is, for the
purposes of any Act, a NSW Government agency.
(4) The provisions of or made
under this Act or any other Act relating to a transport authority apply to and
in respect of a public subsidiary corporation constituted for the purposes of
that authority in such manner and to such extent as are prescribed by the
regulations.
(6) The regulations may make
provision for or with respect to the vesting of those assets, rights and
liabilities in the transferee without any transfer, conveyance or assignment.
(7) A public subsidiary corporation is dissolved by the repeal of the
regulations by which it is constituted (unless continued in existence by the
regulations), and on any such dissolution the assets, rights and liabilities
of the corporation become the assets, rights and liabilities of the
transport authority in respect of which the corporation was constituted.