Queensland Consolidated Acts

BUILDING ACT 1975 - SECT 330

330 Transfer of former fund

(1) On the commencement—

(a) any liabilities relating to the former fund are taken to be liabilities of the Pool Safety Fund; and

(b) any amounts payable to the former fund immediately before the commencement are taken to be payable to the Pool Safety Fund.

(2) The chief executive must—

(a) as soon as practicable after the commencement, do all things necessary to transfer to the Pool Safety Fund all funds held immediately before the commencement in the former fund; and

(b) from time to time, transfer to the Pool Safety Fund any funds received that relate to the former fund.

(3) In this section—

"former fund" means the Pool Safety Fund established under section 246FB as in force from time to time before the commencement.