s 6
In forceTransfer of assets and liabilities
Part 3Transitional provisions relating to the repeal of the Australian Tourist Commission Act 1987
6 Transfer of assets and liabilities
(1)
This section applies to:
(a)
the assets of the ATC; and
(b)
the liabilities of the ATC.
(2)
On the proclamation day:
(a)
the assets and liabilities cease to be assets and liabilities of the ATC and become assets and liabilities of Tourism Australia without any conveyance, transfer or assignment; and
(b)
Tourism Australia becomes the ATC’s successor in law in relation to the assets and liabilities immediately after they become assets and liabilities of Tourism Australia.
Research tools for this sectionPro
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.