8BTransfer of assets

8B Transfer of assets

(1) The Minister may, by legislative instrument, determine that assets and liabilities specified in the determination, being assets and liabilities of the Commonwealth in relation to research, are to be transferred to Australian Coal Research Limited on and from a date specified in the determination. (2) If an asset is transferred under subsection (1), Australian Coal Research Limited becomes liable to pay and discharge all debts, liabilities and obligations of the Commonwealth (if any) that existed in respect of the asset immediately before the transfer.