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National Transmission Network Sale Bill 1997

Part 2 Sale of the National Transmission Network

   

7   Fixtures on non-Commonwealth land

             (1)  The Minister for Finance and Administration may, by notice in the Gazette , declare that this section applies to network facilities specified in the notice.

             (2)  At the end of the day on which the notice is published, any specified network facility that is a fixture on non-Commonwealth land:

                     (a)  is severed from the land and remains severed; and

                     (b)  vests in the Commonwealth;

by force of this section.

             (3)  In this section:

network facility means any asset used, or formerly used, by the Commonwealth in connection with the transmission of a broadcasting service.

non-Commonwealth land means land not owned by the Commonwealth.

8   Effect of Lands Acquisition Act on past grants etc. of interests in land

             (1)  If an instrument made or executed before the commencement of this Act was expressed to grant or transfer an interest in land to or from the Commonwealth, then section 9 is to be applied on the basis that the grant or transfer is not invalid, and is taken never to have been invalid, solely because the grant or transfer was not made in accordance with the requirements of the Lands Acquisition Act.

             (2)  In this section:

Lands Acquisition Act means the Act for the time being in force relating to the acquisition of land by the Commonwealth and associated matters.

interest in land has the same meaning as in the Lands Acquisition Act.

9   Transfer of assets and liabilities

             (1)  The Minister for Finance and Administration may, by notice in the Gazette , declare all or any of the following, in relation to a company specified in the notice:

                     (a)  a specified Commonwealth asset vests in the company at a time specified in the notice (the transfer time ), without any conveyance, transfer or assignment;

                     (b)  at the transfer time, the company becomes the Commonwealth’s successor in law in relation to the transferred asset;

                     (c)  a specified instrument relating to the transferred asset continues to have effect after the transfer time as if a reference in the instrument to the Commonwealth or to the National Transmission Agency were a reference to the company.

             (2)  The Minister for Finance and Administration may, by notice in the Gazette , declare all or any of the following, in relation to a company specified in the notice:

                     (a)  a Commonwealth liability specified in the notice ceases to be a Commonwealth liability at a time specified in the notice (the transfer time ) and becomes a liability of the company;

                     (b)  at the transfer time, the company becomes the Commonwealth’s successor in law in relation to the transferred liability;

                     (c)  a specified instrument relating to the transferred liability continues to have effect after the transfer time as if a reference in the instrument to the Commonwealth or to the National Transmission Agency were a reference to the company.

             (3)  Declarations in relation to both assets and liabilities may be included in the same notice. The same notice may include declarations in relation to more than one asset or liability.

             (4)  A declaration under this section has effect according to its terms.

Note:          The assets and liabilities that can be transferred under this section include assets and liabilities that consist of rights and obligations under contracts.

10   Exemption from stamp duty and other taxes

             (1)  In this section:

exempt matter means the transfer of an asset or a liability under section 9 to a company at a time when all the shares in the company are owned by the Commonwealth.

             (2)  Stamp duty or other tax is not payable under a law of a State or Territory in respect of:

                     (a)  an exempt matter; or

                     (b)  anything done (including a transaction entered into or an instrument made, executed, lodged or given) because of, or for a purpose connected with or arising out of, an exempt matter.

11   Registration of transfers of land

             (1)  This section applies if:

                     (a)  any right, title and interest in particular land vests in a company under this Act; and

                     (b)  there is lodged with a land registration official a certificate that:

                              (i)  is signed by an authorised person; and

                             (ii)  identifies the land, whether by reference to a map or otherwise; and

                            (iii)  states that the right, title and interest has become vested in the company under this Act.

             (2)  The land registration official may:

                     (a)  register the matter in a way that is the same as, or similar to, the way in which dealings in land of that kind are registered; and

                     (b)  deal with, and give effect to, the certificate.

             (3)  A document that appears to be a certificate under subsection (1) is taken to be such a certificate, and to have been properly given, unless the contrary is established.

             (4)  In this section:

authorised person means:

                     (a)  the Minister for Finance and Administration; or

                     (b)  a person authorised by the Minister for Finance and Administration, in writing, for the purposes of this section.

12   Part does not place person in breach of contract etc.

                   The operation of this Part is not to be regarded as:

                     (a)  placing a person in breach of contract or confidence; or

                     (b)  otherwise making a person guilty of a civil wrong; or

                     (c)  placing a person in breach of any contractual provision prohibiting, restricting or regulating:

                              (i)  the assignment or transfer of any asset or liability; or

                             (ii)  the disclosure of any information; or

                     (d)  releasing any surety from any of the surety’s obligations in relation to a liability that is transferred to a company under this Part.