Document ID: chunk:federal_register_of_legislation:C2012C00824:clause:2_3
Version: federal_register_of_legislation:C2012C00824
Segment Type: clause
Provision Reference: sch 2 cl 3
Character Range: 64439–65334

3  Vesting of liabilities

Liabilities of the MSB Board
(1) Subitem (2) applies to the liabilities of the MSB Board (whether the liabilities arose in Australia or elsewhere) immediately before commencement.
(2) At commencement, the liabilities to which this subitem applies cease to be liabilities of the MSB Board and become liabilities of CSC without any conveyance, transfer or assignment. CSC becomes the successor in law in relation to these liabilities.

Liabilities of the Authority
(3) Subitem (4) applies to the liabilities of the Authority (whether the liabilities arose in Australia or elsewhere) immediately before commencement.
(4) At commencement, the liabilities to which this subitem applies cease to be liabilities of the Authority and become liabilities of CSC without any conveyance, transfer or assignment. CSC becomes the successor in law in relation to these liabilities.