Reversion to Commonwealth
8D Reversion to Commonwealth
If the Minister is satisfied that:
in the interest of the Australian coal industry; or
in the national interest;
Australian Coal Research Limited should cease to have responsibility in relation to research, the Minister may, in writing, determine that the assets and liabilities of Australian Coal Research Limited that are specified in the regulations are to be transferred to the Commonwealth from a date specified in the regulations.
A determination made under subsection (1) must be published in the Gazette as soon as possible after it is made.
Regulations may be made to provide for saving and transitional provisions arising from a determination made under subsection (1).
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