sec.36Ranking of encumbrances on income and property

### sec.36 Ranking of encumbrances on income and property This section applies if a statutory body, under section 35 or another Act creates— an encumbrance over all or part of its income (an income encumbrance ) but only income; or an encumbrance over all or part of its property (a property encumbrance ), whether or not the property encumbrance also encumbers income. The Treasurer may, by gazette notice, direct that the body’s income encumbrances rank in relation to each other in the way stated in the notice. If there is no gazette notice for the body’s income encumbrances, the encumbrances rank equally with each other. A property encumbrance of the statutory body ranks with the body’s other property encumbrances as provided by law. A provision of another Act providing for an income encumbrance of a statutory body to rank in a way other than as stated in this section does not apply after the commencement. s 36 amd 1994 No. 31 s 6 sch 2 sub 1996 No. 54 s 8 (sec.36-ssec.1) This section applies if a statutory body, under section 35 or another Act creates— an encumbrance over all or part of its income (an income encumbrance ) but only income; or an encumbrance over all or part of its property (a property encumbrance ), whether or not the property encumbrance also encumbers income. (sec.36-ssec.2) The Treasurer may, by gazette notice, direct that the body’s income encumbrances rank in relation to each other in the way stated in the notice. (sec.36-ssec.3) If there is no gazette notice for the body’s income encumbrances, the encumbrances rank equally with each other. (sec.36-ssec.4) A property encumbrance of the statutory body ranks with the body’s other property encumbrances as provided by law. (sec.36-ssec.5) A provision of another Act providing for an income encumbrance of a statutory body to rank in a way other than as stated in this section does not apply after the commencement. - (a) an encumbrance over all or part of its income (an income encumbrance ) but only income; or - (b) an encumbrance over all or part of its property (a property encumbrance ), whether or not the property encumbrance also encumbers income.