Document ID: chunk:federal_register_of_legislation:C2016C00900:section:8
Version: federal_register_of_legislation:C2016C00900
Segment Type: section
Provision Reference: s 8
Character Range: 15635–16585

8  Transfer of liabilities to the ACA
 (1) This section applies to a liability of the Commonwealth that relates to the SMA.
 (2) The Minister may, by writing, make any or all of the following declarations:
 (a) a declaration that a specified liability ceases to be a liability of the Commonwealth and becomes a liability of the ACA at the merging time;
 (b) a declaration that a specified instrument relating to a specified liability continues to have effect after the liability becomes a liability of the ACA as if a reference in the instrument to the Commonwealth were a reference to the ACA;
 (c) a declaration that the ACA becomes the Commonwealth's successor in law in relation to a specified liability immediately after the liability becomes a liability of the ACA.
Note: A liability or instrument may be specified by name, by inclusion in a specified class or in any other way.
 (3) A declaration under subsection (2) has effect accordingly.