Document ID: chunk:federal_register_of_legislation:C2005C00494:clause:1_27
Version: federal_register_of_legislation:C2005C00494
Segment Type: clause
Provision Reference: sch 1 cl 27
Character Range: 14474–15587

27  Transfer of assets from Commonwealth to the Commission

(1) The Minister may, in writing, make any or all of the following declarations in relation to an asset of the Commonwealth that relates to ScreenSound Australia:
 (a) a declaration that the asset vests in the Commission at a specified time without any conveyance, transfer or assignment;
 (b) a declaration that a specified instrument relating to the asset continues to have effect after a specified time as if a reference in the instrument to the Commonwealth were a reference to the Commission;
 (c) a declaration that the Commission becomes the Commonwealth's successor in law in relation to the asset immediately after a specified time.

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 a declaration under this item is to be published in the Gazette within 14 days after the making of the declaration.

(4) In this item:
asset includes a right that the Commonwealth has in relation to intellectual property (e.g. a licence).