Education (Queensland College of Teachers) Act 2005
sec.303Assets and liabilities etc.
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sec.303 Assets and liabilities etc.
On the commencement— anything that was an asset or liability of the former board immediately before the commencement becomes an asset or liability of the college; and an agreement or arrangement in force immediately before the commencement between the former board and another entity is taken to be an agreement or arrangement between the college and the other entity; and any property that was, immediately before the commencement, held by the former board on trust or subject to conditions continues to be held by the college on the same trusts or subject to the same conditions.
- (a) anything that was an asset or liability of the former board immediately before the commencement becomes an asset or liability of the college; and
- (b) an agreement or arrangement in force immediately before the commencement between the former board and another entity is taken to be an agreement or arrangement between the college and the other entity; and
- (c) any property that was, immediately before the commencement, held by the former board on trust or subject to conditions continues to be held by the college on the same trusts or subject to the same conditions.