103e701

(b)         if the Environment, Resources and Development Court determines, on application by the Authority, that the purchaser or transferee did not acquire the land in a genuine arms length transaction.

the purchaser or transferee is to be taken to have assumed the vendor's or transferor's liability for the site contamination in accordance with the agreement and this Act applies as if the purchaser or transferee (and not the vendor or transferor) had caused the site contamination or, as the case may be, the specified part of the site contamination.

103e705

(i)         the person has first given the purchaser or transferee a notice in a form approved by the Authority for the purposes of this section setting out the legal effect of the agreement under this section; and

(b)         land that is all or portion of the site has been sold or transferred (whether before or after the commencement of this Part or this Act) subject to an agreement in writing under which the purchaser or transferee will assume liability for all or a specified part of the site contamination at the site,