Property and Development NSW Act 2006 (NSW)

Property and Development NSW Act 2006 No 40

An Act to constitute Property and Development NSW as a corporation with functions relating to the acquisition, management and disposal of property vested in the Crown and government agencies; to provide for the transfer of certain property to Property and Development NSW; and for other purposes.

Part 1 Preliminary

1 Name of Act This Act is the Property and Development NSW Act 2006.

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

3 Definitions (1) In this Act— Chief Executive Officer means the person employed in the Public Service as the Chief Executive Officer of Property and Development NSW. contaminated land has the same meaning as in the Waste Assets Management Corporation Act 2010. exercise a function includes perform a duty. function includes a power, authority or duty. government agency means any of the following— (a) a public authority constituted by or under an Act, (b) a statutory body representing the Crown, (c) a Public Service agency, but does not include a State owned corporation, a local authority or any person or body exempted by the regulations from this definition. interest in land means— (a) a legal or equitable estate or interest in the land, or (b) an easement, right, charge, power or privilege over, or in connection with, the land. liabilities means any liabilities, debts or obligations (whether present or future and whether vested or contingent). private corporation means a corporation within the meaning of the Corporations Act 2001 of the Commonwealth formed in or outside New South Wales. private subsidiary corporation means a private corporation in which Property and Development NSW has a controlling interest. property of a government agency means— (a) land that is vested in the government agency, or land that is vested in the Crown or Her Majesty and that is controlled and used by the government agency, or (b) an interest in land, being an interest that is vested in or held by the government agency. Property and Development NSW means Property and Development NSW constituted by section 4.