Document ID: chunk:federal_register_of_legislation:C2006C00145:clause:19_28
Version: federal_register_of_legislation:C2006C00145
Segment Type: clause
Provision Reference: sch 19 cl 28
Character Range: 232948–233993

28  Transfer of assets

(1) The Treasurer may, in writing, make any or all of the following declarations:
 (a) a declaration that a specified asset of the Commonwealth vests in APRA, or in ASIC, at a specified time, not being before the APRA commencement, 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 APRA, or in ASIC, as if a reference in the instrument to the Commonwealth were a reference to APRA or ASIC, as the case requires;
 (c) a declaration that APRA or ASIC becomes the Commonwealth's successor in law in relation to a specified asset immediately after the asset vests in APRA or ASIC.

(2) A declaration has effect accordingly.

(3) Subitem (1) does not prevent the Commonwealth from transferring an asset to APRA or ASIC otherwise than under that subitem.

(4) A declaration under this item is not to be taken to be a legislative instrument for the purposes of the Legislative Instruments Act 1998.