Document ID: chunk:federal_register_of_legislation:C2016C00900:section:28
Version: federal_register_of_legislation:C2016C00900
Segment Type: section
Provision Reference: s 28
Character Range: 28649–29611

28  Re‑transfer of assets
 (1) This section applies to an asset that was transferred to the Commonwealth under subsection 27(2).
 (2) The Minister may, by writing, make any or all of the following declarations:
 (a) a declaration that a specified asset vests in the ACA at a specified time without any conveyance, transfer or assignment;
 (b) a declaration that a specified instrument relating to a specified asset continues to have effect after the asset vests in the ACA as if a reference in the instrument to the Commonwealth were a reference to the ACA;
 (c) a declaration that the ACA becomes the Commonwealth's successor in law in relation to a specified asset immediately after the asset vests in the ACA.
Note: An asset or instrument may be specified by name, by inclusion in a specified class or in any other way.
 (3) A declaration under subsection (2) has effect accordingly.
 (4) A time specified under subsection (2) must be before 1 January 1998.