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PIG INDUSTRY ACT 2001 No. 30, 2001 - SECT 16
Transfer of liabilities of statutory authorities
- (1)
- This section provides for a liability of a statutory authority (the
transferor ) to become a liability of:
- (a)
- the successor body (the
transferee ); or
- (b)
- the Commonwealth (the transferee ).
- (2)
- The Minister
may, in writing, make any or all of the following declarations in relation to
the liability:
- (a)
- a declaration that the liability vests in the transferee
at the transfer time without any conveyance, transfer or assignment;
- (b)
- a
declaration that a specified instrument relating to the liability continues to
have effect after the transfer time as if a reference in the instrument to the
transferor were a reference to the transferee;
- (c)
- a declaration that the
transferee becomes the transferor's successor in law in relation to the
liability immediately after the transfer time.
- (3)
- The declaration has
effect accordingly.
- Note: For the purposes of this section, a liability or
instrument may be specified by name, by inclusion in a specified class or in
any other way.
- (4)
- The Consolidated Revenue Fund is appropriated for the
purposes of payments by the Commonwealth for, or in connection with, the
discharge of any liabilities that become liabilities of the Commonwealth under
this section.
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