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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