Australian Capital Territory Numbered Acts

CANBERRA TOURISM AND EVENTS CORPORATION (NO. 5 OF 1997) - SECT 31

31. (1) Where the Minister is satisfied—

        (a)     that an asset of the Territory, not being an interest in land—

              (i)     has been made available for use, or has been used, in connection with; or

              (ii)     otherwise relates or substantially relates to;

the operations of Canberra Tourism;

        (b)     that it would be appropriate to divest the asset from the Territory and transfer the asset to the Corporation; and

        (c)     that the Corporation, in writing, consents to the transfer;

the Minister shall, by instrument, divest and transfer the asset accordingly.

(2) Where the Territory is—

        (a)     a party to a contract or an agreement; or

        (b)     subject to an obligation;

that relates to an asset referred to in subsection (1), the Minister may in the instrument referred to in that subsection or in another instrument declare that the Corporation is substituted for the Territory in respect of that contract, agreement or obligation, as the case may be.

(3) Where the contract, agreement or obligation relates to an asset as well as to other property, the Corporation shall be taken to be substituted for the Territory to the extent to which the contract, agreement or obligation relates to the asset.

(4) An instrument made by a Minister under this section takes effect according to its terms.