Document ID: chunk:federal_register_of_legislation:C2025C00027:section:145
Version: federal_register_of_legislation:C2025C00027
Segment Type: section
Provision Reference: s 145
Character Range: 88425–89233

145  Transfer of assets etc. on cessation of an R&D Corporation
 (1) Where an R&D Corporation ceases to exist as a result of the repeal of regulations made for the purposes of section 8, all the assets held by the Corporation immediately before the cessation are, on the cessation, to be taken to have been transferred to the Commonwealth.
 (2) Before disposing of any of the assets so transferred, the Commonwealth must have regard to the views of each of the representative organisations concerning the disposal.
 (4) Where an asset held by an R&D Corporation is transferred to the Commonwealth under this section, the Commonwealth becomes liable to pay and discharge all debts, liabilities and obligations of the Corporation (if any) that existed in respect of the asset immediately before the transfer.