SCHEDULE 1 - Transitional and SCHEDULE 1 - Transitional and savings provisions

# SCHEDULE 1 - Transitional and SCHEDULE 1 - Transitional and savings provisions [Section 30](#GS30@EN) > **1.   **Staff of former boards**** > > > > (1) Any person employed by a former board immediately before the commencement day is, on that day, transferred as an employee of the appropriate company. > > > > > (2) The period of employment of a person referred to in [subclause (1)](#JS1@GC1@Gc1@EN) is not broken because of being transferred as an employee of the appropriate company. > > > > > (3) A person referred to in [subclause (1)](#JS1@GC1@Gc1@EN)  – > > > > > > > > (a) retains all rights and entitlements on being transferred to the appropriate company; and > > > > > > > > > (b) is not entitled to any compensation in respect of that transfer. > **2.   **Proceedings**** > > > > (1) Any proceedings instituted under the former Act that are not determined before the commencement day may, on or after that day, be determined under that Act. > > > > > (2) Any proceedings instituted by or against a former board under any Act, other than the former Act, and not determined before the incorporation day may, on or after that day, be determined in respect of the appropriate company. > > > > > (3) Any proceedings instituted under any regulations referred to in section 32(2) that are not determined before the commencement day may, on or after that day, be determined under those regulations. > > > > > (4) Any proceedings instituted by or against a former board under any Act, other than the former Act, and not determined before the incorporation day may, on or after that day, be determined in respect of the appropriate company. > > > > > (5) A judgment by order of a court obtained by or against a former board before the incorporation day of the appropriate company is, on that day, enforceable by or against the appropriate company. > **3.   **Documents**** > > > A document addressed to a former board before the incorporation day of the appropriate company may, on or after that day, be served on the appropriate company. > **4.   **Contracts**** > > > Any contract made by a former board before the incorporation day of the appropriate company and not performed or discharged before that day is, on that day, taken to have been made by the appropriate company. > **5.   **Actions**** > > > Any act done or omitted to be done before the incorporation day of the appropriate company by, to or in respect of a former board is taken to have been done or omitted to be done by, to or in respect of the appropriate company. > **6.   **Accounts**** > > > > (1) Any account maintained in the name of a former board immediately before the incorporation day of the appropriate company is, on that day, taken to be an account in the name of the appropriate company. > > > > > (2) Any funds in an account referred to in [subclause (1)](#JS1@GC6@Gc1@EN) are, on the incorporation day of the appropriate company, taken to be funds of the appropriate company. > **7.   **Auditor**** > > > A person acting as auditor of a former board immediately before the incorporation day of the appropriate company continues, on that day, to act as auditor of the appropriate company until the members of that company appoint another person as an auditor for the appropriate company. > **8.   **Assets, rights and liabilities**** > > > > (1) Any asset, right or liability, other than an interest in land referred to in [section 23](#GS23@EN) , vested in a former board immediately before the incorporation day of the appropriate company is, subject to a determination under [section 31 of the](/view/html/inforce/2026-04-12/act-1997-015#) [Marine and Safety Authority Act 1997](/view/html/inforce/2026-04-12/act-1997-015) , on that day, vested in the appropriate company. > > > > > (2) Any tax, duty, fee or charge under any law of Tasmania is not payable in respect of anything vested in an appropriate company under [subclause (1)](#JS1@GC8@Gc1@EN) . > > > > > (3) On the winding up of a subsidiary, any surplus assets vested in that subsidiary under [subclause (1)](#JS1@GC8@Gc1@EN) vest in the Crown. > **9.   **Guarantees and indemnities**** > > > Any borrowings made by a former board under any of the Acts specified in Schedule 2 before the commencement day are, on that day, guaranteed by the Crown as if the Treasurer had given a guarantee under [section 18](#GS18@EN) . > **10.   **Tax equivalents**** > > > > (1) The provisions of [Divisions 2 and 3 of Part XA of the](/view/html/inforce/2026-04-12/act-1976-999#) former Act apply to a company or its subsidiary in respect of the calculation, determination and payment of an actual taxation equivalent for the financial year ending on 30 June 1997 as if it were a board under that Act. > > > > > (2) The balance of any carry forward losses, within the meaning of the [Income Tax Assessment Act 1936](/view/html/inforce/2026-04-12/act-1997-014) of the Commonwealth, calculated in accordance with any guidelines issued by the Treasurer under the former Act and available at the commencement day are available to a company or its subsidiary.