50.1(1)The Lieutenant-Governor in Council may make orders transferring officers, employees, assets, liabilities, rights and obligations of the Corporation to a subsidiary incorporated in accordance with section 2.62.

50.1(2)The Lieutenant-Governor in Council may set the terms and conditions of a transfer order.

50.1(3)A transfer order is binding on the Corporation, the subsidiary that is the transferee and on all other persons.

50.1(4)Subsection (3) applies despite any public Act or any rule of law, including an Act or rule of law that requires notice or registration of transfers.

50.1(5)A transfer order does not require the consent of the Corporation, the subsidiary that is the transferee or any other person.

50.1(6)The Regulations Act does not apply to a transfer order.

50.1(7)For the purposes of Part 6, a transfer order made by the Lieutenant-Governor in Council under this section shall be deemed to be just and reasonable.