5Vesting of certain property and divesting of control of Authority

5 Vesting of certain property and divesting of control of Authority

5 Vesting of certain property and divesting of control of Authority

Upon completion of the sale of the Undertaking pursuant to an agreement entered into under subsection one of section three of this Act:

(a) anything thereby sold that does not thereupon vest in the Company by delivery or by an assurance shall vest in and belong to Clutha Development Pty. Limited, and

(b) the Authority shall be deemed to have been, immediately before completion of the sale, divested of the control and powers in relation to the Undertaking conferred upon it by section fifteen of the State Coal Mines Act 1912, as subsequently amended, by virtue of the notification under that section relating to the Burragorang State Coal Mine published in the Gazette on the twenty-third day of June, one thousand nine hundred and fifty.