Document ID: chunk:federal_register_of_legislation:C2012A00149:clause:2_1
Version: federal_register_of_legislation:C2012A00149
Segment Type: clause
Provision Reference: sch 2 cl 1
Character Range: 3300–4226

1  Definitions
In this Schedule:
asset means:
 (a) any legal or equitable estate or interest in real or personal property, whether actual, contingent or prospective; and
 (b) any right, power, privilege or immunity, whether actual, contingent or prospective.
assets official, in relation to an asset, means the person or authority who, under a law of the Commonwealth, a State or a Territory, or under a trust instrument or otherwise, has responsibility for keeping a register in relation to assets of the kind concerned.
liability means any liability, duty or obligation, whether actual, contingent or prospective.
National Portrait Gallery program means the program:
 (a) that was administered by the Commonwealth immediately before the transition time; and
 (b) that was generally known as the National Portrait Gallery.
transition time means the commencement of this Schedule.

Part 2—Transfer of assets and liabilities