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Electricity Industry (Residual Provisions) Act 1993
139Property transferred to distribution company
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139 Property transferred to distribution company
(a) all property and rights of a municipal council, wherever located, that are allocated under an allocation statement to a distribution company, vest in that company; and
(b) all liabilities of a municipal council, wherever located, that are allocated under an allocation statement to a distribution company, become liabilities of that company.
S. 140