Transfers of certain assets to AFMA
11 Transfers of certain assets to AFMA
The Minister may, after the commencement of the Fisheries Administration Act 1991, cause to be transferred to AFMA any assets held by the Commonwealth that the Minister considers appropriate to be transferred to AFMA for the performance of its functions and the exercise of its powers.
Subsection (1) does not prevent the Commonwealth from transferring any asset to AFMA otherwise than under that subsection.
Where, immediately before the transfer:
a right of the Commonwealth arising out of a debt, liability or obligation of any other person in favour of the Commonwealth existed in respect of the assets; or
a debt, liability or obligation of the Commonwealth existed in respect of the assets;
the right, debt, liability or obligation, as the case may be, of the Commonwealth is, by force of this section, transferred to AFMA.
Where, immediately before the transfer:
proceedings by the Commonwealth were pending in a court; and
the proceedings related to such a debt, liability or obligation;
then, to the extent that the proceedings so relate, they may be continued by AFMA and AFMA is to be substituted for the Commonwealth.
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