68Transfer of rights and obligations

68 Transfer of rights and obligations

(1) The Minister may, by written instrument, declare that the rights and obligations of a CFM body under a specified contract on a specified day: (a) cease to be rights and obligations of the CFM body; and (b) become rights and obligations of the specified transferee. (2) The declaration has effect accordingly. (3) A Minister must as soon as practicable, but no later than 21 days after making the declaration, publish the declaration in the Gazette.

Note: A contract or instrument may be specified by name, by inclusion in a specified class or in any other way.