South Australian Consolidated Acts

SOUTH AUSTRALIAN TIMBER CORPORATION ACT 1979 - SECT 9

9—Dissolution of Corporation

        (1)         The Governor may, by proclamation—

            (a)         dissolve the Corporation; and

            (b)         vest any of its remaining assets and liabilities in an authority or person nominated in the same or a later proclamation.

        (2)         Assets and liabilities remaining after dissolution of the Corporation, and disposition of its assets and liabilities under subsection (1), vest in the Crown.

        (3)         After dissolution of the Corporation, any statutory powers that might have been exercised by the Corporation if it had continued in existence, are exercisable by the Minister.