New South Wales Consolidated Acts New South Wales Consolidated Acts(Sections 47B, 47GG, 47N, 47O, 47Y)
In this Schedule--
"assets" 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 (including money), and includes securities, choses in action and
documents.
"conveyance" includes transfer, assignment and assurance.
"former trustees" means the trustees holding office under any other Act as
trustees in respect of land immediately before the reservation of the land as
a state recreation area or regional park.
"instrument" means an instrument (other than this Act) that creates, modifies
or extinguishes rights or liabilities (or would do so if lodged, filed or
registered in accordance with any law), and includes any judgment, order or
process of a court.
"liabilities" means all liabilities, debts or obligations (whether present or
future and whether vested or contingent).
(1) Subject to subclause (2), on the publication in the Gazette of a notice under section 30A in relation to a state conservation area or a regional park, the assets, rights and liabilities of the former trustees (if any) of the land concerned are transferred to the Secretary and the following provisions have effect--(a) those assets vest in the Secretary by virtue of this clause and without the need for any conveyance,(b) those rights and liabilities become the rights and liabilities of the Secretary,(c) all proceedings relating to those assets, rights and liabilities commenced before the transfer by or against the trustees and pending immediately before the transfer are taken to be proceedings pending by or against the Secretary,(d) any act, matter or thing relating to those assets, rights and liabilities done or omitted to be done before the transfer by, to or in respect of the trustees is (to the extent that that act, matter or thing has any force or effect) taken to have been done or omitted by, to or in respect of the Secretary,(e) a reference in any instrument of any kind to the trustees in so far as it relates those assets, rights and liabilities is to be read as a reference to the Secretary.
(2) If, on the publication in the Gazette of a notice under section 30A in relation to a state conservation area or a regional park, a state conservation area trust or regional park trust is constituted in respect of the reserved land--(a) the assets, rights and liabilities of the former trustees (if any) of the land concerned are transferred to the relevant state conservation area trust or regional park trust, and(b) the provisions of subclause (1) (a)-(e) apply as if references in those provisions to the Secretary were references to the state conservation area trust or regional park trust concerned.
(1) On the date on which a notice under section 47GG or 47Y takes effect to dissolve a state conservation area trust or regional park trust, the care, control and management of the relevant state conservation area or regional park vests in the Secretary, the assets, rights and liabilities (if any) of the dissolved trust are transferred to the Secretary and the following provisions have effect--(a) the assets of the dissolved trust vest in the Secretary by virtue of this clause without the need for any conveyance,(b) the rights and liabilities of the dissolved trust become the rights and liabilities of the Secretary,(c) all proceedings commenced before that day by or against the dissolved trust and pending immediately before that day are taken to be proceedings pending by or against the Secretary,(d) any act, matter or thing done or omitted to be done before that day by, to or in respect of the trust is (to the extent that that act, matter or thing has any force or effect) taken to have been done or omitted by, to or in respect of the Secretary,(e) a reference in any instrument of any kind to the dissolved trust is to be read as a reference to the Secretary.
(2) No attornment to the Secretary by a lessee from the dissolved trust is required.
On the commencement of section 47N, the assets, rights and liabilities of the trustees (if any) of the state recreation areas to which that section applies are transferred to the respective reserve trust and the following provisions have effect--
(a) those assets vest in the reserve trust concerned by virtue of this clause and without the need for any conveyance,
(b) those rights and liabilities become the rights and liabilities of the reserve trust,
(c) all proceedings relating to those assets, rights and liabilities commenced before the transfer by or against the trustees of the state recreation area and pending immediately before the transfer are taken to be proceedings pending by or against the reserve trust,
(d) any act, matter or thing relating to those assets, rights and liabilities done or omitted to be done before the transfer by, to or in respect of the trustees is (to the extent that that act, matter or thing has any force or effect) taken to have been done or omitted by, to or in respect of the reserve trust,
(e) a reference in any instrument of any kind to the trustees of the state recreation areas in so far as it relates to those assets, rights and liabilities is to be read as a reference to the reserve trust.
(1) The operation of this Schedule is not to be regarded--(a) as a breach of contract or confidence or otherwise as a civil wrong, or(b) as a breach of any contractual provision prohibiting, restricting or regulating the assignment or transfer of assets, rights or liabilities, or(c) as giving rise to any remedy by a party to an instrument, or as causing or permitting the termination of any instrument, because of a change in the beneficial or legal ownership of any asset, right or liability, or(d) as an event of default under any contract or other agreement.
(2) Stamp duty is not chargeable in respect of the transfer of assets, rights and liabilities under this Schedule.