Sydney Market Authority (Dissolution) Act 1997 (NSW)

Sydney Market Authority (Dissolution) Act 1997 No 62

An Act to authorise the sale of the business undertaking of the Sydney Market Authority and the lease of the Flemington market site, to dissolve the Sydney Market Authority, to repeal the Sydney Market Authority Act 1968 and to amend certain other Acts and instruments; and for other purposes.

Part 1 Preliminary

1 Name of Act This Act is the Sydney Market Authority (Dissolution) Act 1997.

2 Commencement This Act commences on a day or days to be appointed by proclamation.

3 Definitions In this Act: approved purchaser has the meaning given by section 4. assets means any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property of any description (including money), and includes choses in action and documents. business undertaking of the Sydney Market Authority means the assets, rights and liabilities of the Sydney Market Authority and, in particular, includes the Sydney Market Authority's interests in the Haymarket licence. Flemington site means land at Flemington, in the State of New South Wales, being the land described in folio identifier Volume 8650, folio 197, under the Real Property Act 1900. former Act means the Sydney Market Authority Act 1968. Haymarket licence means the licence with respect to the Haymarket site granted to the Sydney Market Authority by Rockvale Pty Ltd (ACN 008 655 945) (subsequently renamed Market City Properties Pty Ltd) pursuant to a deed of agreement dated 10 December 1993. Haymarket site means land at Sydney, in the State of New South Wales, being the land described in folio identifiers 1/865241, 2/865241, 3/865241 and 4/865241 under the Real Property Act 1900. instrument means an instrument (other than this Act) that creates, modifies or extinguishes rights or liabilities (or would do so if lodged, filed or registered in accordance with any law), and includes any judgment, order or process of a court. liabilities means all liabilities, debts and obligations (whether present or future and whether vested or contingent). Ministerial Holding Corporation means the Ministerial Holding Corporation constituted by section 37B of the State Owned Corporations Act 1989. rights means all rights, powers, privileges and immunities (whether present or future and whether vested or contingent). sale agreement means an agreement referred to in section 5. sale date means the date referred to in section 6. Sydney Market Authority means the Sydney Market Authority constituted under the former Act.