101Treasurer may direct transfer of property

101 Treasurer may direct transfer of property (1) The Treasurer, after consultation with the Minister, may give a direction in writing to a port authority directing it to transfer, in accordance with the direction, property, rights and liabilities of a specified kind to— (a) a port corporation; or (b) a subsidiary that is wholly owned by the port authority; or (c) the State. (2) Within 21 days after receiving a direction under subsection (1), the port authority must give to the Treasurer a statement approved by the Treasurer relating to the property, rights and liabilities of the port authority to which the direction relates, as at a date specified by the Treasurer for the purposes of this section. (3) A statement under this section— (a) must allocate the property, rights and liabilities of the port authority shown in the statement in accordance with the directions of the Treasurer; and (b) must be signed by the chief executive officer of the port authority. (4) If a statement under this section is approved by the Treasurer and the Minister— (a) the Treasurer and the Minister must sign the statement; and (b) the statement is an allocation statement for the purposes of this Part. (5) The Treasurer and the Minister may at any time direct a port authority to amend a statement given to them under this section as specified in the direction. (6) An allocation statement under this section may be amended by writing signed by the Treasurer and the Minister. (7) In this section, ***statement*** and ***allocation statement*** include a statement or allocation statement amended in accordance with this section.