290Definitions

290 Definitions

(1) In this Part—

allocation statement—see section 301;

instrument includes a document and an oral agreement;

liabilities means all liabilities, duties and obligations, whether actual, contingent or prospective;

property means any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property of any description;

rights means all rights, powers, privileges and immunities, whether actual, contingent or prospective;

transfer date means the date fixed by the VMIA Minister under subsection (2);

transferred officer or employee means a person who, by operation of Division 4, is to be regarded as having been engaged by the Authority from the commencement date;

VMIA‑issued domestic building insurance policy means a contract of insurance entered into by the VMIA before the transfer date for the purposes of an order under section 135 relating to domestic building work;

VMIA Minister means the Minister administering the Victorian Managed Insurance Authority Act 1996.

(2) The VMIA Minister, by order published in the Government Gazette, may fix a date that is not later than 1 July 2026 as the transfer date for the purposes of this Part.

S. 291 inserted by No. 17/2025 s. 10.