211AOperation of earlier transitional provision

#### 211A Operation of earlier transitional provision Division 4 of Part 10A (about transitional financial matters) does not apply to this Subdivision. 98 Transitional—transferring balance of the old account (1) The Commonwealth must pay to the Authority, for the purposes of the Murray‑Darling Basin Special Account, an amount equal to the balance of the old special account immediately before the commencement of this item. Note: The Authority must credit this amount to the new Murray‑Darling Basin Special Account mentioned in section 209 of the Water Act 2007 (as amended by this Schedule): see paragraph 210(1)(a) of that Act. (2) For the purposes of subitem (1), the old special account is the Murray‑Darling Basin Special Account in existence under section 209 of the Water Act 2007 before the commencement of this item. (3) An amount payable under subitem (1) is to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly. Part 5—Transitional provisions for bodies continuing as bodies corporate Division 1—Introduction 99 Definitions In this Part: asset means: (a) any legal or equitable estate or interest in real or personal property, whether actual, contingent or prospective; and (b) any right, power, privilege or immunity, whether actual, contingent or prospective; but does not include the following: (c) a Living Murray Initiative asset (within the meaning of section 239E of the Water Act 2007); (d) a River Murray Operations asset (within the meaning of section 239D of the Water Act 2007). commencement day means the day on which this Schedule commences. corporatised body means: (a) the Australian Human Rights Commission; or (b) the Australian Pesticides and Veterinary Medicines Authority; or (c) the Independent Hospital Pricing Authority; or (d) the Murray‑Darling Basin Authority; or (e) the National Health Performance Authority; or (f) the National Offshore Petroleum Safety and Environmental Management Authority. instrument includes: (a) a contract, deed, undertaking, arrangement or agreement; and (b) a notice, authority, order or instruction; and (c) regulations; and (d) an instrument made under an Act or regulations; but does not include an Act. land means any legal or equitable estate or interest in real property, whether actual, contingent or prospective. liability means any liability, duty or obligation, whether actual, contingent or prospective. responsible Minister has the meaning given by subitem 103(3). Division 2—General transitional provisions 100 Assets and liabilities Become assets and liabilities of the corporatised body (1) On the commencement day, any asset that, immediately before that day, was held by a corporatised body for and on behalf of the Commonwealth, ceases to be an asset of the Commonwealth and becomes an asset of the corporatised body. (2) On the commencement day, any asset that, immediately before that day: (a) was held by a corporatised body; and (b) taken to be the property of the Commonwealth; ceases to be an asset of the Commonwealth and becomes an asset of the corporatised body. (3) On the commencement day, any liability that, immediately before that day: (a) was a liability of a corporatised body; and (b) taken to be a liability of the Commonwealth; ceases to be a liability of the Commonwealth and becomes a liability of the corporatised body. (4) The corporatised body becomes the successor in law in relation to those assets and liabilities. (5) To the extent that, immediately before the commencement day, an amount of money held by a corporatised body was part of the Consolidated Revenue Fund: (a) neither subitem (1) nor (2) applies to the amount; and (b) the Commonwealth must pay an equivalent amount to the corporatised body. An amount payable under this subitem is to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly. Exception (6) The Minister may, by writing, determine that: (a) subitem (1) or (2), and subitem (4), do not apply in relation to a specified asset; or (b) subitems (3) and (4) do not apply in relation to a specified liability. Note: For specification by class, see subsection 33(3AB) of the Acts Interpretation Act 1901. (7) A determination made under subitem (6) is not a legislative instrument. 101 Other transfers of assets and liabilities (1) This item applies in relation to assets and liabilities of the Commonwealth that relate to a corporatised body, other than assets or liabilities to which item 100 applies. (2) The Minister may, in writing, make a declaration that: (a) a specified asset or liability vests in the corporatised body at a specified time (that is on or after the commencement day); and (b) the corporatised body becomes the successor in law in relation to that asset or liability at that specified time. Note: For specification by class, see subsection 33(3AB) of the Acts Interpretation Act 1901. (3) A declaration under subitem (2) has effect accordingly. (4) A declaration under subitem (2) is not a legislative instrument. Assets subject to trust (5) If, at a particular time, an asset vests in the corporatised body under a declaration under subitem (2) and the asset was, immediately before that time, held by the Commonwealth on trust, that asset is taken, at and after that time, to be held by the corporatised body on trust and subject to the terms of the trust on which the asset was so held by the Commonwealth. 102 Legal proceedings (1) This item applies if: (a) any proceedings to which the Commonwealth was a party were pending in any court or tribunal immediately before the commencement day; and (b) the proceedings: (i) relate to an asset or liability that, as a result of this Part, becomes an asset or liability of the corporatised body; or (ii) otherwise relate to the corporatised body. (2) The corporatised body is substituted for the Commonwealth, from the commencement day, as a party to the proceedings. (3) The Minister may, by writing, determine that subitem (2) does not apply in relation to specified proceedings. Note: For specification by class, see subsection 33(3AB) of the Acts Interpretation Act 1901. (4) A determination made under subitem (3) is not a legislative instrument. 103 Certificates relating to vesting of assets (1) If land vests in a corporatised body under this Part and the Minister, or the responsible Minister for the land, signs a certificate that: (a) identifies the land, whether by reference to a map or otherwise; and (b) states that the land has become vested in the corporatised body under this Part; and (c) is lodged with the Registrar of Titles or other proper officer of the State or Territory in which the land is situated; the Registrar or other officer may: (d) register the matter in a way that is the same as, or similar to, the way in which dealings in land of that kind are registered; and (e) deal with, and give effect to, the certificate. (2) If an asset (other than land) vests in a corporatised body under this Part and the Minister, or the responsible Minister for the asset, signs a certificate that: (a) identifies the asset; and (b) states that the asset has become vested in the corporatised body under this Part; and (c) is lodged with the person or authority who, under a law of the Commonwealth, a State or a Territory, under a trust instrument or otherwise, has responsibility for keeping a register in relation to assets of that kind; the person or authority may: (d) deal with, and give effect to, the certificate as if it were a proper and appropriate instrument for transactions in relation to assets of that kind; and (e) make such entries in the register as are necessary, having regard to the effect of this Part. (3) The responsible Minister, for land or another asset, is the Minister who is the responsible Minister (within the meaning of the Public Governance, Performance and Accountability Act 2013) for the corporatised body that held the land or other asset immediately before the commencement day. (4) A document that appears to be a certificate made under this item is taken, unless the contrary is established, to be such a certificate and to have been properly made. (5) A certificate made under this item is not a legislative instrument. 104 References in certain instruments to the Commonwealth (1) This item applies if: (a) an instrument was in force immediately before the commencement day; and (b) the instrument contains a reference to the Commonwealth and the reference: (i) relates to an asset or liability that, as a result of this Part, becomes an asset or liability of the corporatised body; or (ii) otherwise relates to the corporatised body; and (c) the instrument is not part of, or associated with, a register referred to in item 103. (2) The instrument has effect, from the commencement day, as if the reference to the Commonwealth were a reference to the corporatised body. (3) The Minister may, by writing, determine that subitem (2) does not apply in relation to a specified reference. Note: For specification by class, see subsection 33(3AB) of the Acts Interpretation Act 1901. (4) A determination made under subitem (3) is not a legislative instrument. (5) In this item: enterprise agreement has the same meaning as in the Fair Work Act 2009. instrument includes a contract or agreement, but does not include a contract of employment or an enterprise agreement. 105 Contracts etc. If a contract, agreement, arrangement or understanding, entered into by a corporatised body on behalf of the Commonwealth, was in force immediately before the commencement day, it has effect, on and after that day, as if the corporatised body had entered into it on the body’s own behalf. 106 Exemption from stamp duty etc. No stamp duty or other tax is payable under a law of a State or Territory in respect of the following, or anything connected with the following: (a) the transfer of an asset or liability under this Part; (b) the operation of this Part in any other respect. Division 3—Miscellaneous 107 Compensation for acquisition of property (1) If the operation of this Part would result in an acquisition of property (within the meaning of paragraph 51(xxxi) of the Constitution) from a person otherwise than on just terms (within the meaning of that paragraph), the Commonwealth is liable to pay a reasonable amount of compensation to the person. (2) If the Commonwealth and the person do not agree on the amount of the compensation, the person may institute proceedings in a court of competent jurisdiction for the recovery from the Commonwealth of such reasonable amount of compensation as the court determines. 108 Delegation by a Minister (1) A Minister may, by writing, delegate all or any of his or her powers under this Part to: (a) the Secretary of the Department administered by that Minister; or (b) an SES employee, or acting SES employee, in that Department. (2) In exercising powers under a delegation, the delegate must comply with any directions of that Minister. Part 6—Bodies corporate treated as non‑corporate for the purposes of the finance law Australian Prudential Regulation Authority Act 1998 109 After subsection 13(1) Insert: (2) However, APRA is taken, for the purposes of the finance law (within the meaning of the Public Governance, Performance and Accountability Act 2013): (a) to be a non‑corporate Commonwealth entity, and not to be a corporate Commonwealth entity; and (b) to be a part of the Commonwealth; and (c) not to be a body corporate. Australian Securities and Investments Commission Act 2001 110 After subsection 8(1) Insert: (1A) However, ASIC is taken, for the purposes of the finance law (within the meaning of the Public Governance, Performance and Accountability Act 2013): (a) to be a non‑corporate Commonwealth entity, and not to be a corporate Commonwealth entity; and (b) to be a part of the Commonwealth; and (c) not to be a body corporate. Competition and Consumer Act 2010 111 After subsection 6A(1) Insert: (1A) However, the Commission is taken, for the purposes of the finance law (within the meaning of the Public Governance, Performance and Accountability Act 2013): (a) to be a non‑corporate Commonwealth entity, and not to be a corporate Commonwealth entity; and (b) to be a part of the Commonwealth; and (c) not to be a body corporate. 112 At the end of section 44AE Add: (3) However, the AER is taken, for the purposes of the finance law (within the meaning of the Public Governance, Performance and Accountability Act 2013): (a) not to be a corporate Commonwealth entity; and (b) to be a part of the Commonwealth, and a part of the Commission; and (c) not to be a body corporate. Schedule 6—Listed entities Administrative Appeals Tribunal Act 1975 1 After Division 1 of Part IIIA Insert: