New South Wales Consolidated Acts

LAND AND PROPERTY INFORMATION NSW (AUTHORISED TRANSACTION) ACT 2016 - SECT 12

12 Vesting orders

(1) Assets, rights and liabilities comprising titling and registry assets may be vested in a specified person by order in writing (a
"vesting order" ) made:

(a) by the Treasurer for the purposes of an authorised asset transfer, or

(b) by the portfolio Minister for the purposes of re-vesting on termination.

Note : Schedule 2 provides for vesting orders.

(2) A vesting order made by the portfolio Minister for the purposes of re-vesting on termination to transfer titling and registry assets to a private sector entity (but not to a public sector agency) requires the approval of the Treasurer.

(3) A vesting order may vary the terms and conditions of any instrument or contract that relates to assets, rights or liabilities to the extent that is necessary or convenient for the purposes of the authorised transaction.