sec.48Assets and liabilities etc.

sec.48 Assets and liabilities etc.

On the commencement— the assets and liabilities of Events Queensland immediately before the commencement become assets and liabilities of the corporation; and any agreement or arrangement, in force immediately before the commencement, between Events Queensland and another entity is taken to be an agreement or arrangement between the corporation and the other entity; and any property of Events Queensland that is held on trust, or subject to conditions, immediately before the commencement continues to be held by the corporation on the same trust or subject to the same conditions; and any legal proceedings by or against Events Queensland that were current immediately before the commencement may be continued in the name of the corporation. On the commencement— Events Queensland is taken to have resigned as a member of each Events Queensland subsidiary; and the corporation is taken to have— applied to become a member of each Events Queensland subsidiary; and been approved as a member of each Events Queensland subsidiary. On the commencement, the Gold Coast Events Company is transferred from Events Queensland to Tourism and Events Queensland. The corporation is not liable to pay duty under the Duties Act 2001 in relation to anything done under this section. In this section— Events Queensland subsidiary means— Asia Pacific Screen Awards; or Gold Coast Events Management. (sec.48-ssec.1) On the commencement— the assets and liabilities of Events Queensland immediately before the commencement become assets and liabilities of the corporation; and any agreement or arrangement, in force immediately before the commencement, between Events Queensland and another entity is taken to be an agreement or arrangement between the corporation and the other entity; and any property of Events Queensland that is held on trust, or subject to conditions, immediately before the commencement continues to be held by the corporation on the same trust or subject to the same conditions; and any legal proceedings by or against Events Queensland that were current immediately before the commencement may be continued in the name of the corporation. (sec.48-ssec.2) On the commencement— Events Queensland is taken to have resigned as a member of each Events Queensland subsidiary; and the corporation is taken to have— applied to become a member of each Events Queensland subsidiary; and been approved as a member of each Events Queensland subsidiary. (sec.48-ssec.3) On the commencement, the Gold Coast Events Company is transferred from Events Queensland to Tourism and Events Queensland. (sec.48-ssec.4) The corporation is not liable to pay duty under the Duties Act 2001 in relation to anything done under this section. (sec.48-ssec.5) In this section— Events Queensland subsidiary means— Asia Pacific Screen Awards; or Gold Coast Events Management.

• (a) the assets and liabilities of Events Queensland immediately before the commencement become assets and liabilities of the corporation; and