Document ID: chunk:federal_register_of_legislation:C2004A05165:clause:1_33r
Version: federal_register_of_legislation:C2004A05165
Segment Type: clause
Provision Reference: sch 1 cl 33R
Character Range: 27548–28700

33R  Transfer of liabilities

 (1) This section applies to a liability that became a liability of the Commonwealth under section 33M.

 (2) The Minister for Finance 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 Commonwealth and becomes a liability of a specified person 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 person as if a reference in the instrument to the Commonwealth were a reference to the person;
 (c) a declaration that a specified person becomes the Commonwealth's successor in law in relation to a specified liability immediately after the liability becomes a liability of the person.

 (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.