35Transfer of Infrastructure NSW managed projects to government agency

35 Transfer of Infrastructure NSW managed projects to government agency

35 Transfer of Infrastructure NSW managed projects to government agency

(1) The Minister may, by order published in the Gazette (a project divesting order), direct that the assets, rights and liabilities of Infrastructure NSW in relation to a major infrastructure project specified in the order (including any assets, rights and liabilities that have been transferred to Infrastructure NSW by a project authorisation order) be transferred to another government agency specified in the order.

(2) The assets, rights and liabilities to be transferred by a project divesting order may consist of a specified class of assets, rights and liabilities. An order may transfer assets, rights and liabilities in relation to a project to a number of government agencies.

(3) A project divesting order may be made on such terms and conditions as the Minister determines and as are specified or referred to in the order.

(4) Schedule 2 applies to a project divesting order.

(5) Before making a project divesting order that transfers any assets, rights or liabilities to a SOC, the Minister is to consult with the following—

(a) the portfolio Minister of the SOC,

(b) the voting shareholders of the SOC,

(c) the chairperson of the board of directors of the SOC.

(6) Failure to comply with subsection (5) does not affect the validity of the order.