Western Australian Consolidated Acts

STATE SUPERANNUATION ACT 2000 - SECT 58

58 .         Transfer of assets, liabilities etc.

                At the transfer time, by operation of this section —

            (a)         an asset specified in a transfer order under section 57(1)(a) is assigned to the assignee; and

            (b)         every liability of the Board or of the State to pay a benefit arising under a statutory scheme to or in relation to a transferring member is assigned to, and becomes a liability of, TrustCo as trustee of GESB Superannuation; and

            (c)         a liability specified in a transfer order under section 57(1)(b) is assigned to, and becomes a liability of, the assignee; and

            (d)         in proceedings specified in a transfer order under section 57(1)(c) the assignee is substituted for the Board as a party to the proceedings; and

            (e)         an agreement or document specified in a transfer order under section 57(1)(d) is, unless otherwise expressly specified in the order, taken to be amended by substituting for any reference in it to the Board a reference to the assignee.

        [Section 58 inserted by No. 25 of 2007 s. 16.]