87Transitional provision—Urban Renewal Authority Victoria

87 Transitional provision—Urban Renewal Authority Victoria

On the commencement day—

(a) the old Authority is abolished and its members go out of office; and

(b) all members of the old Authority immediately before the commencement day are taken to be members of Development Victoria on the same terms and conditions as applied to that person immediately before the commencement day as a member of the old Authority; and

(c) the Chairperson of the old Authority immediately before the commencement day is taken to be the Chairperson of Development Victoria on the same terms and conditions as applied to the Chairperson immediately before the commencement day as Chairperson of the old Authority; and

(d) the Deputy Chairperson of the old Authority immediately before the commencement day is taken to be the Deputy Chairperson of Development Victoria on the same terms and conditions as applied to the Deputy Chairperson immediately before the commencement day as Deputy Chairperson of the old Authority; and

(e) Development Victoria is the successor in law of the old Authority; and

(f) all rights, assets, liabilities and obligations of the old Authority immediately before its abolition become rights, assets, liabilities and obligations of Development Victoria; and

(g) all moneys standing to the credit of the General Fund of the old Authority become moneys standing to the credit of the General Fund of Development Victoria under this Act; and

(h) all moneys standing to the credit of the Project Fund of the old Authority become moneys standing to the credit of the Project Fund of Development Victoria under this Act; and

(i) all moneys standing to the credit of the Docklands Fund (within the meaning of the Docklands Act 1991) of the old Authority become moneys standing to the credit of the Docklands Fund of Development Victoria under that Act; and

(j) Development Victoria is substituted as a party in any proceedings, contract, agreement or arrangement commenced or made by or against or in relation to the old Authority; and

(k) Development Victoria may continue and complete any other continuing matter or thing commenced by or against or in relation to the old Authority.

New s. 88 inserted by No. 10/2017 s. 21.