Acts and Regulations

2015, c.2 - Opportunities New Brunswick Act

Section 40
Disposition versions

Full text
Transfer and vesting provision with respect to Invest NB
40(1)In this section, “obligations” includes letters of offer, letters of intent and letters of commitment made by Invest NB before the commencement of this section and agreements entered into by Invest NB before the commencement of this section.
40(2)On the commencement of this section,
(a) the property of Invest NB becomes the property of Opportunities NB, and
(b) the claims, rights, liabilities, obligations and privileges of Invest NB are transferred to and become vested in Opportunities NB.
40(3)On the commencement of this section, in any document dealing with property transferred to and vested in Opportunities NB under paragraph (2)(a) or a claim, right, liability, obligation or privilege transferred to and vested in Opportunities NB under paragraph (2)(b), it is sufficient to cite this Act as effecting the transfer to and vesting in Opportunities NB of the property, claim, right, liability, obligation or privilege.
Transfer and vesting provision with respect to Invest NB
40(1)In this section, “obligations” includes letters of offer, letters of intent and letters of commitment made by Invest NB before the commencement of this section and agreements entered into by Invest NB before the commencement of this section.
40(2)On the commencement of this section,
(a) the property of Invest NB becomes the property of Opportunities NB, and
(b) the claims, rights, liabilities, obligations and privileges of Invest NB are transferred to and become vested in Opportunities NB.
40(3)On the commencement of this section, in any document dealing with property transferred to and vested in Opportunities NB under paragraph (2)(a) or a claim, right, liability, obligation or privilege transferred to and vested in Opportunities NB under paragraph (2)(b), it is sufficient to cite this Act as effecting the transfer to and vesting in Opportunities NB of the property, claim, right, liability, obligation or privilege.