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Section 167 - Port Management Act 1995 - Property transferred to the new corporation — Zoe

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Port Management Act 1995

167Property transferred to the new corporation

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167 Property transferred to the new corporation On the appointed day— (a) all property and rights of VCA that are allocated to the new corporation under the allocation statement, vest in the new corporation; and (b) all liabilities of VCA that are allocated to the new corporation under the allocation statement, become liabilities of the new corporation. New s. 168 inserted by No. 23/2003 s. 24.

Previous section166Treasurer may direct transfer of property etc.Next section168Allocation of property etc. subject to encumbrances