sec.74Declaration does not affect legal personality etc.

### sec.74 Declaration does not affect legal personality etc. The declaration of an entity as a GOC does not, of itself, affect— the legal personality of the entity; or its functions and powers. Also, the declaration of an entity as a GOC— does not place the entity or the State in breach of contract or confidence or otherwise make the entity or the State guilty of a civil wrong; and does not make the entity or the State in breach of any instrument, including an instrument prohibiting, restricting or regulating the assignment or transfer of any right or liability or the disclosure of any information; and is not taken to fulfil a condition— that allows a person to terminate an instrument or obligation or modify the operation or effect of an instrument or obligation; or that requires any money to be paid before its stated maturity; and does not release a surety or other obligee (in whole or part) from an obligation. s 74 prev s 74 om 2007 No. 10 s 62 sch pres s 74 amd 1998 No. 21 s 15 (sec.74-ssec.1) The declaration of an entity as a GOC does not, of itself, affect— the legal personality of the entity; or its functions and powers. (sec.74-ssec.2) Also, the declaration of an entity as a GOC— does not place the entity or the State in breach of contract or confidence or otherwise make the entity or the State guilty of a civil wrong; and does not make the entity or the State in breach of any instrument, including an instrument prohibiting, restricting or regulating the assignment or transfer of any right or liability or the disclosure of any information; and is not taken to fulfil a condition— that allows a person to terminate an instrument or obligation or modify the operation or effect of an instrument or obligation; or that requires any money to be paid before its stated maturity; and does not release a surety or other obligee (in whole or part) from an obligation. - (a) the legal personality of the entity; or - (b) its functions and powers. - (a) does not place the entity or the State in breach of contract or confidence or otherwise make the entity or the State guilty of a civil wrong; and - (b) does not make the entity or the State in breach of any instrument, including an instrument prohibiting, restricting or regulating the assignment or transfer of any right or liability or the disclosure of any information; and - (c) is not taken to fulfil a condition— (i) that allows a person to terminate an instrument or obligation or modify the operation or effect of an instrument or obligation; or (ii) that requires any money to be paid before its stated maturity; and - (i) that allows a person to terminate an instrument or obligation or modify the operation or effect of an instrument or obligation; or - (ii) that requires any money to be paid before its stated maturity; and - (d) does not release a surety or other obligee (in whole or part) from an obligation. - (i) that allows a person to terminate an instrument or obligation or modify the operation or effect of an instrument or obligation; or - (ii) that requires any money to be paid before its stated maturity; and