15Application of moneys

15 Application of moneys

(1) The Australian Broadcasting Commission is liable to pay any remuneration and allowances that become payable under Part III of the Australian Broadcasting Corporation Act 1983 before the commencing day and, notwithstanding section 70 of the Broadcasting and Television Act 1942, the moneys of the Commission may be applied in payment of any such remuneration or allowances. (2) Notwithstanding section 68 of the Australian Broadcasting Corporation Act 1983, the moneys of the Corporation may be applied: (a) in payment or discharge of any expenses, charges, obligations or liabilities that were incurred or undertaken before the commencing day by the Australian Broadcasting Commission in or in connection with the performance of its functions or the exercise of its powers and were not paid or discharged before that day; and (b) in payment of any remuneration or allowances the liability for which arose under Part III of the Broadcasting and Television Act 1942 or under subsection (1) of this section but which had not been paid before the commencing day.