On 23/05/2013,
you requested for the version in force on 23/05/2013
incorporating all amendments published on or before 23/05/2013.
The closest version currently available is that of 31/07/2005.
24.
—(1) Any —
(a)
legal right in, title to and interest under any trust property of a registered business trust owned, leased, held or used by a resigning trustee-manager for or on behalf of the registered business trust; and
(b)
obligations and liabilities of the resigning trustee-manager undertaken for or on behalf of the registered business trust,
shall be transferred to and vested in, and assumed by, the replacement trustee-manager or the temporary trustee-manager of the registered business trust to be held for or on behalf of the registered business trust from the effective date of appointment of the replacement trustee-manager or temporary trustee-manager, as the case may be.
(2) Notwithstanding subsection (1), the following rights, obligations and liabilities shall remain the rights, obligations and liabilities of the resigning trustee-manager of a registered business trust:
(a)
any right of the resigning trustee-manager to be paid fees for the performance of its functions before it ceased to be the trustee-manager of the registered business trust;
(b)
any right of the resigning trustee-manager to be indemnified for expenses it had incurred before it ceased to be the trustee-manager of the registered business trust;
(c)
any right, obligation or liability that the resigning trustee-manager had or continues to have as a unitholder of the registered business trust; and
(d)
any liability in respect of which the resigning trustee-manager would have had no claim of indemnification out of the trust property of the registered business trust if it had remained the trustee-manager of the registered business trust.
[Aust. Corp. 2001, s. 601FS]