Document ID: chunk:federal_register_of_legislation:F2019C00925:reg:52
Version: federal_register_of_legislation:F2019C00925
Segment Type: reg
Provision Reference: reg 52
Character Range: 30153–31163

52  Old Parliament House assets and liabilities
 (1) On the transfer day, the assets and liabilities of Old Parliament House cease to be assets and liabilities of Old Parliament House and become assets and liabilities of OPH, without any conveyance, transfer or assignment. OPH becomes the successor in law in relation to those assets and liabilities.
Note: Any liability, such as any actual, contingent or prospective liability to pay a Commonwealth tax, that arises contemporaneously with the transfer of assets and liabilities on the transfer day would (in addition to liabilities that have already arisen before transfer day) be transferred to OPH under this section.
 (2) On the transfer day, the assets and liabilities that Old Parliament House held on behalf of the Commonwealth cease to be assets and liabilities of the Commonwealth and become assets and liabilities of OPH, without any conveyance, transfer or assignment. OPH becomes the successor in law in relation to those assets and liabilities.