AUSTRALIAN INSTITUTE OF MULTICULTURAL AFFAIRS REPEAL ACT 1986 No. 161 of 1986 - SECT 5 Transfer of assets, liabilities, &c.

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AUSTRALIAN INSTITUTE OF MULTICULTURAL AFFAIRS REPEAL ACT 1986 No. 161 of 1986 - SECT 5

Transfer of assets, liabilities, &c.

5. On the commencing day-

   (a)  any rights, property or assets that immediately before that day were
        vested in the Institute are, by force of this section, vested in the
        Commonwealth; and

   (b)  the Commonwealth becomes, by force of this section, liable to pay and
        to discharge any debts, liabilities or obligations of the Institute
        that existed immediately before that day.

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