3
CurrentAssets and liabilities of the Australian Heritage Commission
3 Assets and liabilities of the Australian Heritage Commission
(1)
When this Schedule commences, any rights, property or assets that, immediately before that time, were vested in the Australian Heritage Commission are vested in the Commonwealth.
(2)
When this Schedule commences, the Commonwealth becomes liable to pay and discharge any debts, liabilities or obligations of the Australian Heritage Commission that existed immediately before that time.
This Act’s bill:Explanatory memorandumSecond reading speech
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