75BTransfer subject to encumbrances

75B Transfer subject to encumbrances If under a transfer order property and rights vest in the transferee transport body or liabilities become liabilities of the transferee transport body— (a) the property and rights so vested are subject to the encumbrances (if any) to which they were subject immediately before so vesting; and (b) the rights to which the Secretary, Project Development was entitled in respect of those liabilities immediately before they ceased to be liabilities of the Secretary, Project Development vest in the transferee transport body. S. 75C inserted by No. 30/2020 s. 20.