DEVELOPMENT ALLOWANCE AUTHORITY ACT 1992 (REPEALED)

CHAPTER 3 - INFRASTRUCTURE BORROWINGS  

PART 3 - CERTIFICATES  

Division 1 - Issue, variation and transfer etc.  

SECTION 93W   UNDERTAKING TO COMPLY WITH CERTIFICATE CONDITIONS  

93W(1)   DAA to request undertaking.  

If the DAA is satisfied of the matters required for the transfer of a certificate under section 93V , the DAA must advise the applicants that it will transfer the certificate if the transferee gives the DAA an undertaking to the effect that, if the certificate is transferred, the transferee will comply with the conditions that will apply to the certificate under section 93R .

93W(2)   Form of undertaking.  

The undertaking must be in the approved form, and must be signed by the transferee if the transferee is a natural person. If the transferee is not a natural person, the undertaking must be signed on behalf of the transferee by whichever of the following natural persons is applicable:

(a) if the transferee is an incorporated body that has a board of directors (however described) - the chairperson (however described) of the board;

(b) in any other case - the natural person designated by the form as the signatory.

93W(3)   Undertaking required before transfer.  

The DAA must not transfer the certificate to the transferee until the undertaking is received.