Transfer of liabilities
19 Transfer of liabilities
This section applies to a liability of the Commission.
The Minister may, by writing, make any or all of the following declarations:
a declaration that a specified liability ceases to be a liability of the Commission and becomes a liability of the nominated company at a specified time;
a declaration that a specified instrument relating to a specified liability continues to have effect after the liability becomes a liability of the nominated company as if a reference in the instrument to the Commission were a reference to the nominated company;
a declaration that the nominated company becomes the Commission’s successor in law in relation to a specified liability immediately after the liability becomes a liability of the nominated company.
A declaration under subsection (2) has effect accordingly.
A copy of a declaration under subsection (2) is to be published in the Gazette within 14 days after the making of the declaration.
If a declaration under subsection (2) relates to a liability of the Medibank Private fund, the time specified under subsection (2) must be a time that occurs during the fund‑transfer day.
A liability or instrument may be specified by name, by inclusion in a specified class or in any other way.
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