50Vesting of property etc. subject to encumbrances

50 Vesting of property etc. subject to encumbrances (1) Property and rights vested in the Secretary, Project Development under this Division are subject to the encumbrances (if any) to which they were subject immediately before so vesting. (2) In respect of liabilities that become liabilities of the Secretary, Project Development under this Division, the rights to which the Secretary DIIRD body corporate was entitled in respect of those liabilities immediately before they ceased to be liabilities of that body corporate vest in the Secretary, Project Development. New s. 51 inserted by No. 30/2020 s. 20.