Document ID: chunk:federal_register_of_legislation:C2004A05165:clause:1_33l
Version: federal_register_of_legislation:C2004A05165
Segment Type: clause
Provision Reference: sch 1 cl 33L
Character Range: 21589–23213

33L  Transfer of contractual rights and obligations by declaration

 (1) This section applies to a contract to which an AIDC body is a party.

 (2) The Minister for Finance may, by writing, declare that the body's rights and obligations under a specified contract:
 (a) cease to be rights and obligations of the body at a specified time; and
 (b) become rights and obligations of a specified person at that time.

 (3) The Minister for Finance may, by writing, declare that a specified contract continues to have effect after a specified time as if a reference in the contract to the body were a reference to a specified person.

 (4) The Minister for Finance may, by writing, declare that a specified instrument relating to a specified contract continues to have effect after the body's rights and obligations under the contract become rights and obligations of a specified person, as if a reference in the instrument to the body were a reference to the person.

 (5) The Minister for Finance may, by writing, declare that a specified person becomes the body's successor in law, in relation to the body's rights and obligations under a specified contract, immediately after the body's rights and obligations under the contract become rights and obligations of the person.

 (6) A declaration under this section has effect accordingly.

 (7) A copy of a declaration under this section is to be published in the Gazette within 14 days after the making of the declaration.

 (8) This section does not, by implication, limit section 33K.

Note: For specification by class, see section 46 of the Acts Interpretation Act 1901.