Western Australian Current Acts Western Australian Current Acts (1) If a transfer
order is made then, except as may be otherwise agreed between the Minister and
the assignee —
(a) at
the transfer time —
(i)
an asset that is specified is, by operation of this
section, assigned to the assignee; and
(ii)
a liability that is specified is, by operation of this
section, assigned to and becomes a liability of the assignee; and
(iii)
the assignee is, by operation of this section,
substituted for the Authority as a party to any specified proceedings;
and
(b) an
agreement or instrument that is specified has effect, by operation of this
section, as if, unless otherwise expressly specified, a reference to the
assignee were, at the transfer time, substituted for a reference to the
Authority in the agreement or instrument; and
(c) any
proceedings or remedy that might have been commenced by, or available against
or to, the Authority in relation to an asset or liability assigned by
paragraph (a) may be commenced by, or are available against or to, the
assignee of the asset or liability; and
(d)
anything relating to an asset or liability assigned by paragraph (a) that was
done or omitted to be done by, to, or in respect of, the Authority before the
assignment and is of any effect is to be taken to have been done or omitted
by, to, or in respect of, the assignee of the asset or liability.
(2) In subsection (1)
—
specified means specified in the transfer order.
[Section 24 amended: No. 31 of 2003 s. 189(1).]