Victorian Current Acts

PORT MANAGEMENT ACT 1995 - SECT 103

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 transferee in accordance with a direction under section 101 —

        (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 transferor was entitled in respect of those liabilities immediately before they ceased to be liabilities of the transferor vest in the transferee.