20Effect of transfer of property under this Part

20 Effect of transfer of property under this Part

20 Effect of transfer of property under this Part

(1) No compensation is payable to any person or body in connection with the operation of this Part.

(2) The operation of this Part is not to be regarded—

(a) as a breach of contract or confidence or otherwise as a civil wrong, or

(b) as a breach of any contractual provision prohibiting, restricting or regulating the assignment or transfer of assets, rights or liabilities, or

(c) as giving rise to any remedy by a party to an instrument, or as causing or permitting the termination of any instrument, because of a change in the beneficial or legal ownership of any asset, right or liability.

(3) The operation of this Part is not to be regarded as an event of default under any contract or other instrument.

(4) No attornment to the transferee by a lessee from a transferor is required.

(5) No provision in a lease transferred under this Part to Property and Development NSW is breached solely because Property and Development NSW sublets the property the subject of the lease to a government agency.

s 20: Am 2008 No 62, Sch 1.33 [2]; 2012 No 93, Sch 2.8 [7]; 2024 No 27, Sch 1[4].