6Vesting of remaining interests in Crown or nominee

6 Vesting of remaining interests in Crown or nominee

(1)  On completion of the Business Sale Agreement –

(a) if the Crown purchases the whole, or a part, of the subject railway, all remaining interests relating to that whole or part vest in the Crown; and

(b) if a nominee purchases the whole, or a part, of the subject railway, all remaining interests relating to that whole or part vest in the nominee –

without need for any further conveyance, transfer, assignment or assurance.

(2)  On completion of the Business Sale Agreement, the subject railway is freed and discharged from –

(a) all Emu Bay securities; and

(b) all estates connected with or arising out of any Emu Bay security.

(3)  The vesting in the Crown or nominee, by reason of subsection (1) , of remaining interests does not extinguish any interest in the subject railway, or a part of the subject railway, that is not a remaining interest.