Transfer of contractual rights and obligations
67AN Transfer of contractual rights and obligations
This section applies to a contract where rights and obligations under the contract became rights and obligations of the Commonwealth under section 67AF.
The Minister for Finance may, by writing, declare that the Commonwealth's rights and obligations under a specified contract:
cease to be rights and obligations of the Commonwealth at a specified time; and
become rights and obligations of a specified person at that time.
The Minister for Finance may, by writing, declare that a specified contract continues to have effect after a specified time as if a reference in the contract to the Commonwealth were a reference to a specified person.
The Minister for Finance may, by writing, declare that a specified instrument relating to a specified contract continues to have effect, after the Commonwealth's rights and obligations under the contract become rights and obligations of a specified person, as if a reference in the instrument to the Commonwealth were a reference to the person.
The Minister for Finance may, by writing, declare that a specified person becomes the Commonwealth's successor in law, in relation to the Commonwealth's rights and obligations under a specified contract, immediately after the Commonwealth's rights and obligations under the contract become rights and obligations of the person.
A declaration under this section has effect accordingly.
A copy of a declaration under this section is to be published in the Gazette within 14 days after the making of the declaration.
This section does not, by implication, limit section 67AM.
Note: A contract or instrument may be specified by name, by inclusion in a specified class or in any other way.
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