287FRequirements for preparation of allocation statement

287F Requirements for preparation of allocation statement S. 287F(1) substituted by No. 17/2012 s. 48(2), amended by No. 23/2019 s. 90. (1) If two or more Authorities jointly propose that property, rights or liabilities of any or all of those Authorities that is of a specified kind be transferred from an Authority making the proposal to another Authority making the proposal, the Authorities may submit the proposal to the Minister for his or her approval. (2) A proposal must be in the form required by any guidelines issued by the Minister and be accompanied by a statement containing the information required by the guidelines relating to the property, rights or liabilities to be transferred. (3) A statement under this section— (a) must give the value of the property, rights or liabilities of the transferor that are to be transferred, to the extent to which it is practicable to determine that value; and (b) must allocate to the transferee the property, rights or liabilities of the transferor shown in the statement; and (c) must be signed by the chief executive officer (however described) of the transferee and the transferor. (4) The Minister may refuse the proposal or approve it, with or without any changes. (5) If a proposal is approved by the Minister— (a) the Minister must sign the statement; and (b) the statement is an allocation statement for the purposes of this Part. S. 287G inserted by No. 85/2006 s. 120.