Australian Capital Territory Current Acts

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FINANCIAL MANAGEMENT ACT 1996 - SECT 122

Vesting of assets, rights and liabilities—div 9.7 authorities

    (1)     All assets, rights and liabilities of a division 9.7 authority immediately before handover day vest in the Territory on handover day.

    (2)     To remove any doubt, all records of the territory authority, including applications made to the authority, become the records of the Territory on handover day.



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