TRANSPORT INTEGRATION ACT 2010 - SECT 66C Property, rights and liabilities transferred in accordance with Transfer Order

TRANSPORT INTEGRATION ACT 2010 - SECT 66C

On the transfer date—

        (a)     all property and rights of the transferor transport body, wherever located, that are transferred under the Transfer Order, vest in the transferee transport body in accordance with the Transfer Order;

        (b)     all liabilities of the transferor transport body, wherever located, that are transferred under the Transfer Order, become liabilities of the transferee transport body in accordance with the Transfer Order.

S. 66D inserted by No. 3/2017 s. 3.