s 21 Licences
(1) A licence in respect of anything transferred by property transfer regulations continues to have effect despite the transfer. (2) Property transfer regulations may disapply subsection (1) to a specified extent. (3) Where a licence imposes rights or obligations, property transfer regulations may apportion responsibility for exercise or compliance between transferor and transferee. (4) In this section , “ licence ” includes permission and approval and any other permissive document in respect of anything transferred.