7Transfer of assets, rights and liabilities of dissolved development corporation

7 Transfer of assets, rights and liabilities of dissolved development corporation

7 Transfer of assets, rights and liabilities of dissolved development corporation

(1) Despite the Act, Schedule 1A, clause 3(1)(d), on and from the dissolution of the Northern Rivers Reconstruction Corporation by the dissolution order—

(a) the assets, rights and liabilities of the Northern Rivers Reconstruction Corporation are transferred to the NSW Reconstruction Authority, and

(b) the Act, Schedule 1A, Part 2 applies to the transfer of those assets, rights and liabilities as if the transfer had been effected by the commencement of the dissolution order.

(2) In this clause—

dissolution order means the Growth Centres (Development Corporations) Amendment (Dissolution of Northern Rivers Reconstruction Corporation) Order 2023.

NSW Reconstruction Authority means the NSW Reconstruction Authority established under the NSW Reconstruction Authority Act 2022, section 7.

cl 7: Ins 2023 (583), Sch 1[4].