Victorian Current Acts

ELECTRICITY INDUSTRY (RESIDUAL PROVISIONS) ACT 1993 - SECT 153TV

Unless an allocation statement under this Part otherwise provides, where, under this Part—

        (a)     property and rights vest in; or

        (b)     liabilities become liabilities of—

a person or 2 or more persons—

        (c)     the property and rights so vested are subject to the encumbrances (if any) to which they were subject immediately before so vesting; and

        (d)     the rights to which the TCO was entitled in respect of those liabilities immediately before they ceased to be liabilities of the TCO vest in the person or persons.

S. 153TW inserted by No. 35/1997 s. 25.