Australian Capital Territory
Financial Management (Land Development Agency Transfer to City Renewal Authority) Declaration 2017
Notifiable instrument NI2017–342
made under the  
Financial Management Act 1996, ss107 (Transfer of assets by declaration—div 9.6 authorities), 108 (Transfer of contractual rights and liabilities by declaration—div 9.6 authorities) and 109 (Transfer of liabilities by declaration—div 9.6 authorities)

1	Name of instrument
This instrument is the Financial Management (Land Development Agency Transfer to City Renewal Authority) Declaration 2017.
2	Commencement 
This instrument commences on the day after its notification day. 
3	Transfer of assets
In accordance with section 107 of the Financial Management Act 1996 (FMA) I make the following declarations:
(a)	the stated assets  of the Land Development Agency identified in Schedule 1 vest in the City Renewal Authority at midnight on 30 June 2017 without a conveyance, transfer or assignment; and
(b)	the City Renewal Authority becomes the Land Development Agency’s successor in law in relation to assets identified in Schedule 1 after the assets vest in the City Renewal Authority.
4	Transfer of contractual rights and liabilities
In accordance with section 108 of the FMA I make the following declarations:
(a)	the Land Development Agency’s rights and liabilities under the stated contracts identified in Schedule 2 (to which the Land Development Agency is a party) stop being the rights and liabilities of the Land Development Agency at midnight on 30 June 2017 and become the rights and liabilities of the City Renewal Authority at that time; and
(b)	a stated contract identified in Schedule 2 continues to have effect after 30 June 2017 as if a reference to the Land Development Agency were a reference to the City Renewal Authority; and
(c)	the City Renewal Authority becomes the Land Development Agency’s successor in law, in relation to the Land Development Agency’s rights and liabilities under the stated contracts identified in Schedule 2, immediately after the Land Development Agency’s rights and liabilities under the stated contracts become the rights and liabilities of the City Renewal Authority.
5	Transfer of Liabilities
In accordance with section 109 of the FMA I make the following declarations:
(a)	the stated liabilities of the Land Development Agency identified in Schedule 3 stops being liabilities of the Land Development Agency and become liabilities of the City Renewal Authority at midnight  on 30 June 2017; and
(b)	the City Renewal Authority becomes the Land Development Agency’s successor in law in relation to any stated  liability identified in Schedule 3 immediately after the liability becomes the liability of the City Renewal Authority.

Yvette Berry MLA
Minister for Housing and Suburban Development
28 June 2017

Schedule 1 –Assets 
(see s 3)

Column 1 –Assets	
Inventory – Blocks 3, 5 and 13, Section 3, City	
Inventory – Block 30, Section 34, Dickson	
Inventory - Section 3, Parkes	
Inventory – Block 24 Section 65, City	
Inventory - ANU Exchange	
Inventory - City to the Lake	
Cash at bank - $9,034,000 held in the Land Development Agency’s bank accounts	
Fixed Asset – Lake Burley Griffin – Boat Hire	
Fixed Asset – Lake Burley Griffin – Bike Hire	
Fixed Asset – Westside containers	
Fixed Asset – City to the Lake Boardwalk	

Schedule 2 –Contracts 
(see s 4)

Column 1 - Contracts	
Contracts for the Sale of Land/First Grant of Crown Lease	
Block	Section	District	Division	
30	34	Canberra	Dickson	
11	19	Canberra	City	
Contracts other than for the Sale of Land/First Grant of Crown Lease	
Contractor/Consultant	Nature of Services or Works	
Aecom Australia Pty Ltd	Parkes Section 3 Planning and Engineering Consultancy & Variations	
Aecom Australia Pty Ltd	Parkes Section 3 CEMP	
Cardno	City to the Lake - Point Park - Principal's Authorised Person (PAP) Services	
ISG Projects (Infrastructure Services Group Pty Ltd)	City to the Lake - Advisory Panel - ISG	
Chincivil Pty Ltd	City to the Lake - Point Park - Design and Construction & Variations	
M21 Advisory Pty Ltd	City to the Lake - Project Advisory Services (Project Control Board)	
Arup Pty Ltd	Parkes Way Traffic Modelling and Design Development	
Cardno	Lyneham B12 S50 Stage 2 Site Investigation Report Alternate Yield Options	
Smec	CTTL Golden Sun Moth Investigation	
University of Canberra	UC City Play Activation	
Rider Levett Bucknall	Westside Deconstruction and Relocation Cost Estimates	
Manuka Realty (MMJ)	Parkes B6/S3 Valuation Update	
University of Canberra	Canberra City Play Spaces Research	

Schedule 3 –Liabilities (see s5)

Column 1 - Liabilities	
Annual leave at 30 June 2017 of Land Development Agency staff transferring to the City Renewal Authority	
Long Service leave at 30 June 2017 of Land Development Agency staff transferring to the City Renewal Authority	
Revenue Received in Advance as identified in the Land Development Agency’s financial ledger at 30 June 2017 referrable to stated contracts identified in Schedule 2