Australian Capital Territory Repealed Acts

This legislation has been repealed.

KINGSTON FORESHORE DEVELOPMENT AUTHORITY ACT 1999 NO 89 (REPEALED) - SECT 46

    (1)     Subject to this section, the Minister may, by signed writing, divest an asset from the Territory and transfer the asset to the authority.

    (2)     Before making an instrument in relation to an asset, the Minister must be satisfied that—

        (a)     the asset—

              (i)     has been used, or made available for use, for the authority's operations; or

              (ii)     otherwise relates to those operations; and

        (b)     it would be appropriate to transfer the asset to the authority; and

        (c)     the authority has, in writing, consented to the transfer.

    (3)     If the Territory is—

        (a)     a party to a contract or an agreement; or

        (b)     subject to an obligation;

that relates to an asset transferred under subsection (1), the Minister may make provision, in the instrument of transfer or another instrument signed by the Minister, for the authority to be substituted for the Territory as—

        (c)     that party to the contract or an agreement; or

        (d)     the body subject to the obligation.

    (4)     An instrument under this section takes effect according to its terms.

    (5)     For this section, an estate or interest in land is taken not to be an asset.