(1)

The Minister may, in writing, make any or all of the following declarations in relation to a liability of the Commonwealth that relates to the Tourism Forecasting Council:

(a) a declaration that the liability vests in Tourism Australia on the proclamation day without any conveyance, transfer or assignment;
(b) a declaration that a specified instrument relating to the liability continues to have effect on and after the proclamation day as if a reference in the instrument to the Commonwealth or the Tourism Forecasting Council were a reference to Tourism Australia;
(c) a declaration that Tourism Australia becomes the Commonwealth's successor in law in relation to the liability on the proclamation day.

Note: A liability or instrument may be specified by name, by inclusion in a specified class or in any other way.

(2)

The declaration has effect accordingly.