South Australian Proclamations and Notices

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Motor Accident Commission (Transfer of Residual Assets and Liabilities) Proclamation 2003

under section 30 of the SGIC (Sale) Act 1995

1—Short title

This proclamation may be cited as the Motor Accident Commission (Transfer of Residual Assets and Liabilities) Proclamation 2003.

2—Commencement

This proclamation comes into operation on 30 June 2003.

3—Definitions and interpretation

(1) In this proclamation, unless the contrary intention appears—

Act means the SGIC (Sale) Act 1995;

Homestart means the former body corporate Homestart Finance Limited ACN 008 272 437 dissolved by clause 3 of Schedule 2 of the Housing and Urban Development (Administrative Arrangements) Act 1995 and includes the Minister for Housing and any other successor in title to Homestart Finance Limited and the Minister for Housing;

MAC means the body corporate originally established as the State Government Insurance Commission and continued in existence as the Motor Accident Commission by the Motor Accident Commission Act 1992;

SAAMC means the body corporate continued in existence as the South Australian Asset Management Corporation by the State Bank of South Australia Act 1983;

SAICORP means the body corporate known as South Australian Government Captive Insurance Corporation established as a subsidiary of the Treasurer by the Public Corporations (Treasurer) Regulations 1994 made under the Public Corporations Act 1993;

Transfer Date means the date on which this proclamation comes into operation;

Transfer Order means the order made by the Treasurer under section 8 of the Act on 4 July 1995;

Transferee means each of SAAMC and SAICORP.

(2) Words and phrases defined in the Act but not defined in this proclamation have the same meaning in this proclamation.

(3) In this proclamation, unless the contrary intention appears—

(a) a reference to a contract, covenant, arrangement or agreement is a reference to a contract, covenant, arrangement or agreement notwithstanding that by its terms it is expressed to be or is by its nature personal or for any other reason not capable of assignment;

(b) a reference to an asset or property is a reference to an asset or property subject to all equities having priority over the rights of MAC as at the Transfer Date;

(c) a reference to a right, title and interest in any property of MAC is a reference to all the estate, right, title, interest, claim and defined which MAC has in, to or in the property the subject of this proclamation or expressed or intended to be and which MAC has power to transfer or convey;

(d) references to this proclamation or any other order, deed, agreement or instrument will be taken to include references to this proclamation, or such other order, deed, agreement or instrument as amended, novated, supplemented, varied or replaced from time to time;

(e) references to a person in this proclamation will be taken to include, where the person is a natural person, the personal representatives and permitted assigns of that person and, where a body corporate, its successors in title and permitted assigns.

4—Breaches of contract

(1) The Transferee will be liable for all breaches of any contract, agreement, arrangement or undertaking committed prior to the Transfer Date by MAC in respect of any asset transferred to the Transferee by this proclamation.

(2) The Transferee will be entitled to the benefit of all breaches of any contract, agreement, arrangement or undertaking transferred by this proclamation to the Transferee to which MAC is a party committed prior to the Transfer Date by any person that MAC would, apart from this proclamation, be entitled to.

5—Transfer

Pursuant to section 30 of the Act, I hereby transfer—

(a) the assets and liabilities described in Schedule 1 to SAAMC; and

(b) the assets and liabilities described in Schedule 2 to SAICORP.

6—Persons bound

This proclamation is binding—

(a) in respect of the assets and liabilities described in Schedule 1 of this proclamation, on—

(i) MAC;

(ii) SAAMC;

(iii) any person named as insured in the policies described in Schedule 1;

(iv) any person having rights under, or in relation to, the policies described in Schedule 1; and

(b) in respect of the assets and liabilities described in Schedule 2 of this proclamation, on—

(i) MAC;

(ii) SAICORP;

(iii) any person named as insured in the policies described in Schedule 2; and

(iv) any person having rights under, or in relation to, the policies described in Schedule 2.

Schedule 1

Schedule 2

Made by the Governor

with the advice and consent of the Executive Council
on 19 June 2003

T&F03/063CS

[Published in the Gazette on 19 June 2003 at page 2605]

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