25Transfer of assets and liabilities to Crown

### 25 Transfer of assets and liabilities to Crown > > (1)  In this section – > > > > > ***State tax*** means any of the following if imposed by any Act or law of Tasmania: > > > > > > > > (a) a fee, including an application fee and registration fee; > > > > > > > > > (b) a tax, including a duty; > > > > > > > > > (c) a charge. > > > (2)  The Minister, by one or more notices published in the *Gazette* on or before the transfer day, may – > > > > > > (a) transfer an asset or a liability of a port company to the Crown (whether or not that transfer is for a consideration); and > > > > > > > (b) specify conditions relating to that transfer; and > > > > > > > (c) provide for any matter that is incidental to that transfer. > > > (3)  Consideration for a transfer under [subsection (2)](#GS25@Gs2@EN) of an asset or liability may be by assumption of liabilities or otherwise. > > > (4)  If the Corporation is of the opinion that the transfer of a particular asset or liability of a port company to the Crown by a notice under [subsection (2)](#GS25@Gs2@EN) would result in the Corporation becoming insolvent, within the meaning of the Corporations Act, on the transfer day, the Corporation is to advise the Minister of that opinion. > > > (5)  The Minister is to table a copy of the advice under [subsection (4)](#GS25@Gs4@EN) in each House of Parliament within 5 sitting-days after receiving it. > > > (6)  On the transfer day – > > > > > > (a) a notice under [subsection (2)](#GS25@Gs2@EN) takes effect; and > > > > > > > (b) the assets specified in a notice under [subsection (2)](#GS25@Gs2@EN) vest in the Crown subject to any relevant conditions specified in the notice; and > > > > > > > (c) any liability specified in a notice under [subsection (2)](#GS25@Gs2@EN) becomes a liability of the Crown subject to any relevant conditions specified in the notice. > > > (7)  If any dispute arises – > > > > > > (a) as to whether an asset or liability is transferred to the Crown under [subsection (2)](#GS25@Gs2@EN) ; or > > > > > > > (b) as to whether any, or any part of any, contract relates to an asset or liability that is transferred under [subsection (2)](#GS25@Gs2@EN)  – > > > > the Minister may determine the matter and is to provide the port company concerned, the Corporation and any relevant Head of Agency, within the meaning of the [State Service Act 2000](/view/html/inforce/2026-04-12/act-2000-085) , with written notice of that determination. > > > (8)  The determination of the Minister under [subsection (7)](#GS25@Gs7@EN) is final and binding on the port company concerned, the Corporation and the Crown. > > > (9)  A notice under [subsection (2)](#GS25@Gs2@EN) is not a statutory rule for the purposes of the [Rules Publication Act 1953](/view/html/inforce/2026-04-12/act-1953-050) . > > > (10)  State tax is not payable in respect of a notice under [subsection (2)](#GS25@Gs2@EN) or any document prepared to give effect to [subsection (6)](#GS25@Gs6@EN) .