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Transport Integration Act 2010
248Property, rights and liabilities allocated in accordance with direction
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248 Property, rights and liabilities allocated in accordance with direction
(a) all property and rights of the relevant transferor, wherever located, that are allocated under an allocation statement, vest in the relevant transferee in accordance with the statement;
(b) all liabilities of the relevant transferor, wherever located, that are allocated under an allocation statement, become liabilities of the relevant transferee in accordance with the statement.
S. 249 inserted by No. 61/2011 s. 4 (as amended by No. 43/2012 s. 3(Sch. item 55)).