sec.64Conditions about buildings, structures or other fixtures

### sec.64 Conditions about buildings, structures or other fixtures A document forming part of a financial arrangement entered into under this Act by a statutory body may provide that in relation to buildings, structures or other fixtures stated in the arrangement— their ownership does not vest in the owner of the land on which they are situated; and they are not realty; and they are transferable to a person under the arrangement or another financial arrangement under this Act or another Act. A provision mentioned in subsection (1) operates in accordance with its terms, despite an Act or rule of law to the contrary, but is subject to an express provision of the arrangement. s 64 ins 1996 No. 54 s 8 (sec.64-ssec.1) A document forming part of a financial arrangement entered into under this Act by a statutory body may provide that in relation to buildings, structures or other fixtures stated in the arrangement— their ownership does not vest in the owner of the land on which they are situated; and they are not realty; and they are transferable to a person under the arrangement or another financial arrangement under this Act or another Act. (sec.64-ssec.2) A provision mentioned in subsection (1) operates in accordance with its terms, despite an Act or rule of law to the contrary, but is subject to an express provision of the arrangement. - (a) their ownership does not vest in the owner of the land on which they are situated; and - (b) they are not realty; and - (c) they are transferable to a person under the arrangement or another financial arrangement under this Act or another Act.