Document ID: chunk:federal_register_of_legislation:C2004A00360:clause:1_18b
Version: federal_register_of_legislation:C2004A00360
Segment Type: clause
Provision Reference: sch 1 cl 18B
Character Range: 21217–21928

18B  Transfer of WIF assets

 (1) On 1 July 1999, the following assets of the Board vest in nominated company A without any conveyance, transfer or assignment:
 (a) money in the Wheat Industry Fund;
 (b) an investment of the Wheat Industry Fund;
 (c) any other asset that was acquired using money in the Wheat Industry Fund.

 (2) Nominated company A becomes the Board's successor in law in relation to those assets.

 (3) Divisions 4 and 7 apply in relation to the vesting of assets under this section in the same way as they apply in relation to the vesting of assets under section 9.

[Minister's second reading speech made in—
House of Representatives on 14 May 1998
Senate on 22 June 1998]

(75/98)