144
CurrentTransfer of assets etc. on the establishment of an R&D Corporation
Part 5Miscellaneous
144 Transfer of assets etc. on the establishment of an R&D Corporation
(1)
Where an R&D Corporation is established, the Minister may cause to be transferred to the Corporation any assets held by the Commonwealth that the Minister considers appropriate to be transferred to the Corporation for the performance of its functions and the exercise of its powers.
(3)
Where an asset held by the Commonwealth is transferred to an R&D Corporation under this section, the Corporation becomes liable to pay and discharge all debts, liabilities and obligations of the Commonwealth (if any) that existed in respect of the asset immediately before the transfer.
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