32Transfer of assets

##### 32 Transfer of assets (1) The Minister may cause any building, fixture or other asset owned by the Commonwealth which was used at, or in relation to, a Schedule airport immediately before the transfer day to be transferred to the Corporation. (2) The Minister may cause any building, fixture or other asset owned by the Commonwealth which, immediately before a place or places became a Federal airport or part of a Federal airport because of a declaration under subsection 25(1) or 26(1), was used at, or in relation to, that place or those places to be transferred to the Corporation. (2A) If: (a) a place or places become a Federal airport development site because of a declaration under subsection 26A(1) or paragraph 26B(1)(a); and (b) immediately before the place or places became a Federal airport development site, a building, fixture or other asset was owned by the Commonwealth and was used at, or in relation to, the place or places; the Minister may cause the building, fixture or asset to be transferred to the Corporation. (3) Where the Minister causes an asset to be transferred to the Corporation under subsection (1), (2) or (2A), the Minister may, by writing signed by him or her, declare that that transfer shall be taken to have had effect from a specified day, not being a day earlier than the transfer day or the day on which the place or places at, or in relation to, which the asset was used was transferred, as the case may be, and, where the Minister makes such a declaration, the declaration has effect accordingly. (4) Where a building, fixture or other asset of the Commonwealth is transferred to the Corporation pursuant to subsection (1), (2) or (2A), the Corporation becomes liable to pay and discharge all debts, liabilities and obligations of the Commonwealth, if any, that existed immediately before the transfer in respect of that asset.