Part 1Special Resolution Regime
Transfer of property
37Licences
1
A licence in respect of anything transferred by property transfer instrument shall continue to have effect despite the transfer.
2
A property transfer instrument may disapply subsection (1) to a specified extent.
3
Where a licence imposes rights or obligations, a property transfer instrument may apportion responsibility for exercise or compliance between transferor and transferee.
4
In this section “licence” includes permission and approval and any other permissive document in respect of anything transferred.