Racing (Tasracing Pty Ltd) (Transitional and Consequential Provisions) Act 2009
4Vesting of assets, rights, liabilities, &c., in the Company
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4 Vesting of assets, rights, liabilities, &c., in the Company
(1) On and after the incorporation day, the following provisions have effect:
(a) the assets of the TRB vest in the Company by virtue of this section and without the need for any further transfer, assignment or assurance;
(b) the rights or liabilities of the TRB become by virtue of this section the rights or liabilities of the Company;
(c) legal or other proceedings commenced by or against the TRB before, and pending on, the incorporation day, or that are taken by virtue of section 15(1) of the Racing Regulation Amendment (Governance Reform) (Transitional and Consequential Provisions) Act 2008 to be proceedings pending by or against the TRB, may be continued by or, as the case may be, against the Company;
(d) a judgment or order of a court obtained in those proceedings whether by or against the TRB, or that may be enforced by virtue of section 15(1) of the Racing Regulation Amendment (Governance Reform) (Transitional and Consequential Provisions) Act 2008 by or against the TRB, may be enforced by or, as the case may be, against the Company;
(e) legal or other proceedings which could have been commenced by or against the TRB before, and pending on, the incorporation day, or that may be commenced by virtue of section 15(1) of the Racing Regulation Amendment (Governance Reform) (Transitional and Consequential Provisions) Act 2008 by or against the TRB, may be commenced by or against the Company;
(f) a document addressed to, and purporting to be served on, the TRB relating to those proceedings, or that is taken by virtue of section 15(1) of the Racing Regulation Amendment (Governance Reform) (Transitional and Consequential Provisions) Act 2008 to have been served on the TRB, is taken to be served on the Company;
(g) a reference to the TRB in any Act, in any instrument made under any Act, in any contract (other than a contract of employment), agreement, arrangement or undertaking or in any document of any kind, or that is taken by virtue of to be, or include, a reference to the TRB, is taken to be, or include, a reference to the Company.