#### 197 Abolition of Independent Transport Safety Regulator 197 Abolition of Independent Transport Safety Regulator > > (1) The Independent Transport Safety Regulator is abolished. > > > (2) On its abolition, the assets, rights and liabilities of the Independent Transport Safety Regulator are transferred to the Crown. > > > (3) The Minister may— > > > > > (a) enter into an arrangement with the National Rail Safety Regulator for the transfer of any assets, rights and liabilities transferred to the Crown by this clause to the National Rail Safety Regulator, or > > > > > (b) transfer any assets, rights and liabilities transferred to the Crown by this clause to a NSW government agency. > > > (4) Schedule 4 applies to the transfer of assets, rights and liabilities under this clause. > > > (5) Words and expressions used in this clause have the same meanings as they have in Schedule 4.

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