Document ID: chunk:federal_register_of_legislation:C2004A05288:section:11
Version: federal_register_of_legislation:C2004A05288
Segment Type: section
Provision Reference: s 11
Character Range: 11613–12773

11  Transfer of liabilities

 (1) This section applies to a liability of the Board.

 (2) The Board may, by writing, make any or all of the following declarations:
 (a) a declaration that a specified liability ceases to be a liability of the Board and becomes a liability of a specified designated company at a specified time;
 (b) a declaration that a specified instrument relating to a specified liability continues to have effect after the liability becomes a liability of a specified designated company as if a reference in the instrument to the Board were a reference to the company;
 (c) a declaration that a specified designated company becomes the Board's successor in law in relation to a specified liability immediately after the liability becomes a liability of the company.

 (3) A declaration under subsection (2) has effect accordingly.

 (4) A copy of a declaration under subsection (2) is to be published in the Gazette within 14 days after the making of the declaration.

Note: A liability or instrument may be specified by name, by inclusion in a specified class or in any other way.

Subdivision B—Transfer of staff to nominated company A