28Contracts

28 Contracts

(1)  In this section –

contract means a contract, agreement, arrangement or undertaking, or part of a contract, agreement, arrangement or undertaking, that relates to a Crown asset or liability but does not include a contract of employment.

(2)  A contract made or entered into by a port company, but not performed, executed, discharged or otherwise terminated, before the transfer day is taken to be a contract made or entered into by the Crown.

(3)  A party to a contract referred to in subsection (2) is not entitled, by reason only of the operation of this Act –

(a) to terminate that contract; or

(b) to claim that there has been a breach or default of contract; or

(c) to claim any remedy.