28Transfer of specified assets, rights and liabilities

28 Transfer of specified assets, rights and liabilities

28 Transfer of specified assets, rights and liabilities

(1) The portfolio Minister may, with the concurrence of the voting shareholders, by order in writing, transfer to Water NSW such of the assets, rights and liabilities of the Ministerial Corporation, the State or a public or local authority as are specified or referred to in the order.

(2) The portfolio Minister may, with the concurrence of the voting shareholders, by order in writing, transfer to the Ministerial Corporation or to any other person or body on behalf of the State such of the assets, rights and liabilities of Water NSW, as are specified or referred to in the order.

(3) The portfolio Minister is not to make an order under subsection (1) or (2) unless the relevant person or body from whom, or to whom, the assets, rights or liabilities are to be transferred has consented to the transfer.

(4) The fee simple in land that comprises the bed of any river, lake or estuary is not to be transferred to Water NSW under this section unless the Minister administering the Crown Land Management Act 2016 has been consulted in relation to the transfer.

(5) Subsection (4) does not prevent the transfer to Water NSW of the ownership of any works installed in or on the bed of any river, lake or estuary.

(6) An order under this section may be made on such terms and conditions as are specified in the order.

(7) Schedule 1 applies to any transfer of assets, rights or liabilities by an order under this section.

(8) Section 20C of the State Owned Corporations Act 1989 does not apply to the transfer of assets, rights or liabilities to Water NSW.

s 28: Am 2017 No 17, Sch 2.20 [2].