Barangaroo Act 2009
6Provisions relating to transfers of assets, rights and liabilities
Start here
Get a plain-English read of 6
Turn the raw legal text into a practical explanation grounded in Barangaroo Act 2009.
6 Provisions relating to transfers of assets, rights and liabilities
6 Provisions relating to transfers of assets, rights and liabilities
(1) In this clause, the person or body from which any assets, rights or liabilities are transferred is called the transferor and the person or body to which they are transferred is the transferee.
(2) When any assets, rights or liabilities are transferred by or under this Division, the following provisions have effect:
(a) the assets of the transferor vest in the transferee by virtue of this clause and without the need for any further conveyance, transfer, assignment or assurance,
(b) the rights or liabilities of the transferor become, by virtue of this clause, the rights or liabilities of the transferee,
(c) all proceedings relating to the assets, rights or liabilities commenced before the transfer by or against the transferor or a predecessor of the transferor and pending immediately before the transfer are taken to be proceedings pending by or against the transferee,
(d) any act, matter or thing done or omitted to be done in relation to the assets, rights or liabilities before the transfer by, to or in respect of the transferor or a predecessor of the transferor is (to the extent to which that act, matter or thing has any force or effect) taken to have been done or omitted by, to or in respect of the transferee,
(e) the transferee has all the entitlements and obligations of the transferor in relation to those assets, rights and liabilities that the transferor would have had but for the transfer, whether or not those entitlements and obligations were actual or potential at the time of the transfer,
(f) a reference in any Act, in any instrument made under any Act or in any document of any kind to the transferor or a predecessor of the transferor is (to the extent that it relates to those assets, rights or liabilities but subject to the regulations), to be read as, or as including, a reference to the transferee.
(3) The operation of this clause is not to be regarded:
(a) as a breach of contract or confidence or otherwise as a civil wrong, or
(b) as a breach of any contractual provision prohibiting, restricting or regulating the assignment or transfer of assets, rights or liabilities, or