Document ID: chunk:federal_register_of_legislation:C2004A01262:clause:1_77
Version: federal_register_of_legislation:C2004A01262
Segment Type: clause
Provision Reference: sch 1 cl 77
Character Range: 34832–35905

77  Transfer of assets of the Organisation

(1) The Science Minister may, in writing, make any or all of the following declarations in relation to an asset of the Organisation that is connected with the Organisation's metrological functions:
 (a) a declaration that the asset vests in the Commonwealth on the proclamation day without any conveyance, transfer or assignment;
 (b) a declaration that a specified instrument relating to the asset continues to have effect on and after the proclamation day as if a reference in the instrument to the Organisation were a reference to the Commonwealth;
 (c) a declaration that the Commonwealth becomes the Organisation's successor in law in relation to the asset at the beginning of the proclamation day.

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

(2) The declaration has effect accordingly.

(3) A copy of the declaration is to be published in the Gazette within 14 days after either the making of the declaration or the proclamation day, whichever is later.