11
In forceAssets of the Corporation
Schedule 3Savings and transitional provisions
Part 2Provisions consequent on the enactment of this Act and the Superannuation (Axiom Funds Management Corporation) Act 1996
11 Assets of the Corporation
(1)
Any assets, rights or liabilities that are part of the business undertaking of the Corporation are to be transferred to STC, FTC, AFMC or SAA, as directed by the Minister by order in writing.
(2)
An order under this section may be made before, on or after the commencement of any provision of this Act or the Superannuation (Axiom Funds Management Corporation) Act 1996.
(3)
An order may specify the consideration on which the order is made and the value or values at which the assets, rights or liabilities are transferred.
This Act’s bill:Explanatory memorandumSecond reading speech
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