Subdiv 2Devolution of the BCB’s assets and liabilities

Subdivision 2 — Devolution of the BCB’s assets and liabilities

106. Transfer of assets and liabilities to Commission

On and after the appointed day —

(a) the assets and rights of the BCB vest in the Commission by force of this section;

(b) the liabilities of the BCB (including a share of a liability) become, by force of this section, the liabilities of the Commission;

(c) any agreement or instrument relating to the assets, rights and liabilities referred to in paragraphs (a) and (b) has effect, by force of this section, as if the Commission were substituted for the BCB in the agreement or instrument;

(d) the Commission is a party to any proceedings by or against the BCB commenced before the appointed day;

(e) any proceeding or remedy that might have been commenced by or available against or to the BCB in relation to the assets, rights and liabilities referred to in paragraphs (a) and (b), may be commenced and are available, by or against or to the Commission;

(f) any act, matter or thing done or omitted to be done in relation to the assets, rights and liabilities referred to in paragraphs (a) and (b) before the appointed day by, to or in respect of the BCB (to the extent that that act, matter or thing has any force or effect) is to be taken to have been done or omitted by, to or in respect of the Commission;

(g) the BCB is to deliver to the Commission all registers, papers, documents, minutes, receipts, books of account and other records (however compiled, recorded or stored) relating to —

(i) the assets, rights and liabilities referred to in paragraphs (a) and (b); and

(ii) proceedings referred to in paragraph (d).

107. Western Australian Betting Control Board Fund

(1) On the appointed day, any funds standing to the credit of the Western Australian Betting Control Board Fund established under section 9 of the BC Act are —

(a) in the case of moneys held by the Board in respect of payments of bookmakers’ betting levy made under section 15 of the BC Act in relation to betting of the kind referred to in sections 4A and 4B of the BC Act, to be credited to the Sports Wagering Account referred to in section 110A of the Gaming and Wagering Commission Act 1987; and

(b) in the case of all other moneys, to be credited to the Gaming and Wagering Commission Account established under section 9 of the Gaming and Wagering Commission Act 1987,

and the Western Australian Betting Control Board Fund is then to be closed.

(2) If in an agreement, instrument or other document there is a reference to the Western Australian Betting Control Board Fund, that reference is, unless the context otherwise requires, to be read or to have effect on and after the appointed day as if it were a reference to the Gaming and Wagering Commission Account established under section 9 of the .