Document ID: chunk:federal_register_of_legislation:C2004A00385:clause:1_6
Version: federal_register_of_legislation:C2004A00385
Segment Type: clause
Provision Reference: sch 1 cl 6
Character Range: 2196–3198

6  Transfer of assets and liabilities of the Nuclear Safety Bureau

(1) At the commencement time:
 (a) the assets and liabilities of the Nuclear Safety Bureau are transferred to the Commonwealth; and
 (b) the Commonwealth becomes the Nuclear Safety Bureau's successor in law in relation to an asset or liability transferred under paragraph (a); and

(2) Any instrument or document relating to a transferred asset or liability continues to have effect after the commencement time as if a reference in the instrument or document to the Nuclear Safety Bureau were a reference to the Commonwealth.

(3) In this item:

asset means:
 (a) any legal or equitable estate or interest in real or personal property, including a contingent or prospective one; or
 (b) any right, privilege or immunity, including a contingent or prospective one.

commencement time means the time at which section 1 of this Act commenced.

liability means a liability, duty or obligation, including a contingent or prospective one.