Acts and Regulations

N-4.05 - New Brunswick Community Colleges Act

Section 53
Disposition versions

Full text
Transfers of debts and other liabilities to a corporation
53(1)Subject to subsection (3), on the commencement of this section, all debts and other liabilities of the Special Operating Agency with respect to the campuses listed in Schedule A for which the Province would have been responsible, existing on the commencement of this section or accruing after the commencement of this section, are the debts and liabilities of the New Brunswick Community College (NBCC).
53(2)Subject to subsection (3), on the commencement of this section, all debts and other liabilities of the Special Operating Agency with respect to the campuses listed in Schedule B for which the Province would have been responsible, existing on the commencement of this section or accruing after the commencement of this section, are the debts and liabilities of the Collège communautaire du Nouveau-Brunswick (CCNB).
53(3) The Lieutenant-Governor in Council may prescribe by regulation any debts and other liabilities of the Special Operating Agency referred to in subsection (1) or (2) that shall not become debts or liabilities of a corporation on the commencement of this section.
Transfers of debts and other liabilities to a corporation
53(1)Subject to subsection (3), on the commencement of this section, all debts and other liabilities of the Special Operating Agency with respect to the campuses listed in Schedule A for which the Province would have been responsible, existing on the commencement of this section or accruing after the commencement of this section, are the debts and liabilities of the New Brunswick Community College (NBCC).
53(2)Subject to subsection (3), on the commencement of this section, all debts and other liabilities of the Special Operating Agency with respect to the campuses listed in Schedule B for which the Province would have been responsible, existing on the commencement of this section or accruing after the commencement of this section, are the debts and liabilities of the Collège communautaire du Nouveau-Brunswick (CCNB).
53(3) The Lieutenant-Governor in Council may prescribe by regulation any debts and other liabilities of the Special Operating Agency referred to in subsection (1) or (2) that shall not become debts or liabilities of a corporation on the commencement of this section.