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Commonwealth Functions (Statutes Review) Act 1981
214Transfer of rights, liabilities etc.
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214 Transfer of rights, liabilities etc.
On the commencing day: (a) any rights, property or moneys that immediately before that day were vested in the Institute are, by force of this section, vested in the Commonwealth; and (b) the Commonwealth becomes, by force of this section, liable to pay or discharge any debts, liabilities or obligations of the Institute that existed immediately before that day.