Transfer of assets from Commonwealth to Tourism Australia
19 Transfer of assets from Commonwealth to Tourism Australia
The Minister may, in writing, make any or all of the following declarations in relation to an asset of the Commonwealth that relates to the Bureau of Tourism Research:
a declaration that the asset vests in Tourism Australia on the proclamation day without any conveyance, transfer or assignment;
a declaration that a specified instrument relating to the asset continues to have effect on and after the proclamation day as if a reference in the instrument to the Commonwealth or the Bureau of Tourism Research were a reference to Tourism Australia;
a declaration that Tourism Australia becomes the Commonwealth’s successor in law in relation to the asset on the proclamation day.
Note: An asset or instrument may be specified by name, by inclusion in a specified class or in any other way.
The declaration has effect accordingly.
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.