Victorian Current Acts

GAS INDUSTRY (RESIDUAL PROVISIONS) ACT 1994 - SECT 120

On the Longford assets and Longford liabilities vesting in or becoming liabilities of the transferee under section 119 —

        (a)     the Longford assets so vested are subject to the encumbrances (if any) to which they were subject immediately before so vesting; and

        (b)     the rights to which GASCOR was entitled in respect of the Longford liabilities immediately before they ceased to be liabilities of GASCOR vest in the transferee.

New s. 121 inserted by No. 51/2002 s. 3.