TRANSPORT INTEGRATION ACT 2010 - SECT 274 Definitions

TRANSPORT INTEGRATION ACT 2010 - SECT 274

    (1)     In this Part—

"agreement" means an agreement between V/Line Pty Ltd and V/Line Corporation which includes a provision that is expressed to be a transfer provision for the purposes of this Part;

"allocation statement" means an allocation statement given under section 275 and includes a statement that has been amended under the relevant section;

"former V/Line Pty Ltd instrument" means an instrument (including a legislative instrument other than this Act) or an oral agreement subsisting immediately before the relevant date—

        (a)     to which V/Line Pty Ltd was a party; or

        (b)     that was given to, or in favour of, V/Line Pty Ltd; or

        (c)     that refers to V/Line Pty Ltd; or

        (d)     under which—

              (i)     money is, or may become, payable to V/Line Pty Ltd; or

              (ii)     other property is to be, or may become liable to be, transferred to or by V/Line Pty Ltd;

"former V/Line Pty Ltd property" means property, rights or liabilities of V/Line Pty Ltd that, under this Part, have vested in, or become liabilities of, V/Line Corporation;

"instrument" includes a document and an oral agreement;

"liabilities" means all liabilities, duties and obligations, whether actual, contingent or prospective;

"property" means any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property of any description;

"relevant date", in relation to an allocation statement or property, rights or liabilities allocated under such a statement, means—

        (a)     the date fixed by the Minister under subsection (2) for the purposes of that statement; or

        (b)     if V/Line Pty Ltd has resolved to voluntarily wind up when an agreement is signed, the date stated to be the relevant date in that agreement;

"rights" means all rights, powers, privileges and immunities, whether actual, contingent or prospective;

"V/Line Pty Ltd" means V/Line Pty Ltd

(ACN 087 425 269).

    (2)     The Minister, by notice published in the Government Gazette, may fix the relevant date for the purposes of an allocation statement given under an agreement entered into before V/Line Pty Ltd has resolved to voluntarily wind up.

Division 2—Transfer of property, rights and liabilities and staff

S. 275 inserted by No. 3/2017 s. 51.