Document ID: chunk:federal_register_of_legislation:C2004A05288:section:10
Version: federal_register_of_legislation:C2004A05288
Segment Type: section
Provision Reference: s 10
Character Range: 9941–11613

10  Transfer of contractual rights and obligations

 (1) This section applies to a contract (other than a contract of employment) to which the Board is a party.

 (2) The Board may, by writing, declare that the Board's rights and obligations under a specified contract:
 (a) cease to be rights and obligations of the Board at a specified time; and
 (b) become rights and obligations of a specified designated company at that time.

 (3) The Board may, by writing, declare that a specified contract continues to have effect after a specified time as if a reference in the contract to the Board were a reference to a specified designated company.

 (4) The Board may, by writing, declare that a specified instrument relating to a specified contract continues to have effect, after the Board's rights and obligations under the contract become rights and obligations of a specified designated company, as if a reference in the instrument to the Board were a reference to the company.

 (5) The Board may, by writing, declare that a specified designated company becomes the Board's successor in law, in relation to the Board's rights and obligations under a specified contract, immediately after the Board's rights and obligations under the contract become rights and obligations of the company.

 (6) A declaration under this section has effect accordingly.

 (7) A copy of a declaration under this section is to be published in the Gazette within 14 days after the making of the declaration.

 (8) This section does not, by implication, limit section 9 or 11.

Note: A contract or instrument may be specified by name, by inclusion in a specified class or in any other way.