Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies to a liability that became a liability of the ACA under section 8.
(2) The Minister may, by writing, make any or all of the following declarations:
(a) a declaration that a specified liability ceases to be a liability of the ACA and becomes a liability of the Commonwealth at a specified time;
(b) a declaration that a specified instrument relating to a specified liability continues to have effect after the liability becomes a liability of the Commonwealth as if a reference in the instrument to the ACA were a reference to the Commonwealth;
(c) a declaration that the Commonwealth becomes the ACA's successor in law in relation to a specified liability immediately after the liability becomes a liability of the Commonwealth.
(3) A declaration under subsection ( 2) has effect accordingly.
(4) A time specified under subsection ( 2) must be before 1 January 1998.
Note: A liability or instrument may be specified by name, by inclusion in a specified class or in any other way.