126Allocation of property etc. subject to encumbrances

126 Allocation of property etc. subject to encumbrances Unless an allocation statement otherwise provides, if, under this Division, property and rights vest in VicGrid or liabilities become liabilities of VicGrid— (a) the property and rights so vested are subject to the encumbrances (if any) to which they were subject immediately before so vesting; and (b) the rights to which the Crown was entitled in respect of those liabilities immediately before they ceased to be liabilities of the Crown vest in VicGrid. S. 127 inserted by No. 38/2025 s. 57.