sec.78Transfer of particular State assets and liabilities to Gold Coast Waterways Authority

sec.78 Transfer of particular State assets and liabilities to Gold Coast Waterways Authority

The Minister may prepare a register of the assets and liabilities of the State that are to be transferred to the authority for the purposes of this Act. The register has no effect unless it is approved under a regulation. When the register takes effect— the State is divested of the assets and liabilities and they become assets and liabilities of the authority; and proceedings by or against the State, or that could have been started by or against the State before the register takes effect, relating to the assets or liabilities may be continued or started by or against the authority. This section does not limit or otherwise affect sections 78(2)(b) or 80(2)(b). (sec.78-ssec.1) The Minister may prepare a register of the assets and liabilities of the State that are to be transferred to the authority for the purposes of this Act. (sec.78-ssec.2) The register has no effect unless it is approved under a regulation. (sec.78-ssec.3) When the register takes effect— the State is divested of the assets and liabilities and they become assets and liabilities of the authority; and proceedings by or against the State, or that could have been started by or against the State before the register takes effect, relating to the assets or liabilities may be continued or started by or against the authority. (sec.78-ssec.4) This section does not limit or otherwise affect sections 78(2)(b) or 80(2)(b).

• (a) the State is divested of the assets and liabilities and they become assets and liabilities of the authority; and
• (b) proceedings by or against the State, or that could have been started by or against the State before the register takes effect, relating to the assets or liabilities may be continued or started by or against the authority.