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Building Act 2004

Miscellaneous provisions - Transitional provisions - Dissolution of Authority

419: Assets and liabilities vest in Crown

You could also call this:

“The government gets everything the Authority owned and owed when it stops existing.”

When the Authority stops existing, everything it owned, owed, or was owed becomes the property of the Crown. This means all the Authority’s stuff, money it owes, and money owed to it now belongs to the Crown. This change happens right away when this part of the law starts working.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM309300.

Topics:
Government and voting > Government departments
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418: Authority dissolved, or

“The group in charge is no longer around and has been shut down.”

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420: Protection from civil liability for members, building referees, and employees of Authority continued, or

“People who worked for the old building group can't be sued for doing their job properly.”

Part 5 Miscellaneous provisions
Transitional provisions: Dissolution of Authority

419Assets and liabilities vest in Crown

  1. All rights, assets, liabilities, and debts that the Authority had immediately before the commencement of this section must be treated as the rights, assets, liabilities, and debts of the Crown on that commencement.