sec.64Expiry of Authority

### sec.64 Expiry of Authority The Authority expires at the end of 99 years after it is established. The State is the successor in law of the Authority on its expiry. Without limiting subsection (2) , on the expiry of the Authority— an asset or liability of the Authority immediately before the expiry becomes an asset or liability of the State; and an employee of the Authority immediately before the expiry becomes an employee of the State; and an agreement in force immediately before the expiry between the Authority and another entity becomes an agreement between the State and the other entity; and a legal proceeding that, before the expiry, may be taken or was being taken by or against the Authority may be taken or continued by or against the State. A regulation may make provision about any matter necessary or convenient for giving effect to this section, including provision about— the transfer of an employee of the Authority to a government entity, and the employee’s rights; or the application of instruments relating to the Authority; or the Authority’s records. This section applies subject to section 109 . In this section— record includes any document. s 64 amd 2011 No. 8 s 95 ; 2012 No. 39 s 102 sch pt 2 (sec.64-ssec.1) The Authority expires at the end of 99 years after it is established. (sec.64-ssec.2) The State is the successor in law of the Authority on its expiry. (sec.64-ssec.3) Without limiting subsection (2) , on the expiry of the Authority— an asset or liability of the Authority immediately before the expiry becomes an asset or liability of the State; and an employee of the Authority immediately before the expiry becomes an employee of the State; and an agreement in force immediately before the expiry between the Authority and another entity becomes an agreement between the State and the other entity; and a legal proceeding that, before the expiry, may be taken or was being taken by or against the Authority may be taken or continued by or against the State. (sec.64-ssec.4) A regulation may make provision about any matter necessary or convenient for giving effect to this section, including provision about— the transfer of an employee of the Authority to a government entity, and the employee’s rights; or the application of instruments relating to the Authority; or the Authority’s records. (sec.64-ssec.5) This section applies subject to section 109 . (sec.64-ssec.6) In this section— record includes any document. - (a) an asset or liability of the Authority immediately before the expiry becomes an asset or liability of the State; and - (b) an employee of the Authority immediately before the expiry becomes an employee of the State; and - (c) an agreement in force immediately before the expiry between the Authority and another entity becomes an agreement between the State and the other entity; and - (d) a legal proceeding that, before the expiry, may be taken or was being taken by or against the Authority may be taken or continued by or against the State. - (a) the transfer of an employee of the Authority to a government entity, and the employee’s rights; or - (b) the application of instruments relating to the Authority; or - (c) the Authority’s records.