TRANSPORT ADMINISTRATION ACT 1988 - SECT 94
Transfers of assets, rights and liabilities
TRANSPORT ADMINISTRATION ACT 1988 - SECT 94
Transfers of assets, rights and liabilities
94 Transfers of assets, rights and liabilities
(1) The Minister may, by order in writing, direct that the assets, rights or
liabilities of a specified transport authority, or any subsidiary of a
transport authority, that are specified or referred to in the order, be
transferred to another transport authority, a subsidiary of a
transport authority, a State owned corporation, the Crown or any other person
or body acting on behalf of the Crown or a local council.
(2) The Minister
may, by further order under this section, further direct the transfer any
assets, rights or liabilities previously transferred under this section.
(3)
An order under this section may be subject to specified terms and conditions.
(4) Schedule 4 applies to the transfer of assets, rights and liabilities under
this section.
(5) Words and expressions used in this section have the same
meanings as they have in Schedule 4.
(7) In this section and Schedule 4, a reference to the Minister,
in relation to the transfer of any assets, rights or liabilities of the
SRA Residual Holding Corporation, is to be read as a reference to the
Treasurer.
(8) For the avoidance of doubt, an order under this section may
transfer an asset, right or liability to more than one transferee.
(9) The
power to transfer an asset by means of an order under this section includes
the power to transfer an interest in the asset. The transfer of an interest in
an asset operates to create the interest in such terms as are specified in the
order if the interest does not already exist as a separate interest.
(10) The
Minister may make an order under this section that transfers assets, rights or
liabilities to or from TAHE only with the consent of TAHE.