ACTIn ForceAct
Financial Management Act 1996
122Vesting of assets, rights and liabilities—div 9.7
Start here
Get a plain-English read of 122
Turn the raw legal text into a practical explanation grounded in Financial Management Act 1996.
122 Vesting of assets, rights and liabilities—div 9.7 (1) All assets, rights and liabilities of a division 9.7 authority immediately before handover day vest in the Territory on handover day. (2) To remove any doubt, all records of the territory authority, including applications made to the authority, become the records of the Territory on handover day.