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DAMPIER TO BUNBURY PIPELINE ACT 1997 - SECT 16

DAMPIER TO BUNBURY PIPELINE ACT 1997 - SECT 16

16 .         Consequences of transfer order

        (1)         If a transfer order is made then, except as may be otherwise agreed between the corporation and the assignee, at the transfer time —

            (a)         an asset or liability of the corporation that is specified is, by operation of this section, assigned to the assignee; and

            (b)         an agreement or instrument that is specified has effect, by operation of this section, as if, unless otherwise expressly specified, a reference to the assignee were substituted for a reference to the corporation in the agreement or instrument.

        (2)         In subsection (1) —

        specified means specified in the transfer order.