Alteration of agreements and instruments on establishment of an R&D Corporation
146 Alteration of agreements and instruments on establishment of an R&D Corporation
Where an R&D Corporation is established, the Minister may, by writing signed by him or her, declare that specified agreements or specified instruments:
to which the Commonwealth or the Commonwealth Government is a party; and
that, immediately before the establishment of the Corporation, related to research and development in connection with a designated primary industry sector in relation to the Corporation;
have effect, after the establishment of the Corporation, as if:
the Corporation were substituted for the Commonwealth or the Commonwealth Government, as the case may be, as a party to the agreements or instruments; and
any reference in the agreements or instruments to the Commonwealth were (except in relation to matters that occurred before the establishment of the Corporation) a reference to the Corporation;
and, where the Minister makes such a declaration, the agreements or instruments have effect accordingly.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.