sec.331Agreements, assets, liabilities and rights

### sec.331 Agreements, assets, liabilities and rights On the commencement— the former council’s assets, liabilities and rights vest in QBCC; and QBCC is substituted for the former council in all agreements to which the former council was a party immediately before the commencement. Without limiting subsection (1), any amounts payable to the former council immediately before the commencement are, on the commencement, taken to be payable to QBCC. In this section— agreement includes a lease, undertaking and contractual arrangement. s 331 ins 2014 No. 56 s 39 (sec.331-ssec.1) On the commencement— the former council’s assets, liabilities and rights vest in QBCC; and QBCC is substituted for the former council in all agreements to which the former council was a party immediately before the commencement. (sec.331-ssec.2) Without limiting subsection (1), any amounts payable to the former council immediately before the commencement are, on the commencement, taken to be payable to QBCC. (sec.331-ssec.3) In this section— agreement includes a lease, undertaking and contractual arrangement. - (a) the former council’s assets, liabilities and rights vest in QBCC; and - (b) QBCC is substituted for the former council in all agreements to which the former council was a party immediately before the commencement.