Document ID: chunk:federal_register_of_legislation:C2004A00401:clause:2_5
Version: federal_register_of_legislation:C2004A00401
Segment Type: clause
Provision Reference: sch 2 cl 5
Character Range: 23193–24037

5  Attorney‑General may transfer Commonwealth assets to new AGS
(1) The Attorney‑General may, by writing, make any or all of the following declarations:
 (a) a declaration that a specified asset of the Commonwealth vests in the AGS at a specified time without any conveyance, transfer or assignment;
 (b) a declaration that a specified instrument in relation to a specified asset continues to have effect after the asset vests in the AGS as if a reference in the instrument to the Commonwealth were a reference to the AGS;
 (c) a declaration that the AGS becomes the Commonwealth's successor in law in relation to a specified asset immediately after the asset vests in the AGS.
(2) A declaration has effect accordingly.
(3) Subitem (1) does not prevent the Commonwealth from transferring an asset to the AGS otherwise than under that subitem.