Western Australian Consolidated Acts Western Australian Consolidated Acts (1) In this
section —
closing day of a college, means the day on which
an order that closes the college, published under section 35(b) or
56(1)(b), takes effect.
(2) The Minister must
notify the Treasurer as soon as practicable after publishing an order under
section 35(b) or 56(1)(b) that closes a college.
(3) On the closing day
of a college the following provisions apply —
(a) all
assets and rights of the college become assets and rights of the Minister
without the need for any transfer;
(b) all
liabilities of the college, including contingent liabilities, become
liabilities of the Minister;
(c) any
agreement to which the college is a party (other than one to which the
Minister was the other party) has effect as if the Minister was substituted
for the college as a party to that agreement;
(d) all
proceedings commenced before the closing day by or against the college are to
be taken to be proceedings pending by or against the Minister;
(e)
anything done or omitted to be done in relation to the assets, rights and
liabilities referred to in paragraphs (a) and (b) before the closing day
by, to or in respect of the college (to the extent that that thing has any
force or effect) is to be taken to have been done by, to or in respect of the
Minister;
(f) the
Minister becomes the owner of all the college’s registers, documents,
books and other records, however compiled, recorded or stored and of any tape,
disk or other device or medium relating to such records;
(g) the
status of a college as a body corporate ceases.
(4) The Minister is to
complete the winding-up of the operations and affairs of the college as soon
as practicable after the closing day and for that purpose the Minister has,
and may exercise, any powers that are necessary.
(5) On the closure of
a college, the Financial Management Act 2006 Part 5 Division 3
applies to and in respect of the college.
[Section 57A inserted by No. 44 of 2008
s. 36.]