27ACEmployer liabilities after Government initiative takes effect

#### 27AC Employer liabilities after Government initiative takes effect 27AC Employer liabilities after Government initiative takes effect > > (1) On and from a transfer of employees or superannuation coverage that the Minister certifies under this Part is a consequence of a Government privatisation initiative or other Government initiative affecting an employer, the employer’s liability with respect to the employees for present and future benefits, contributions and administrative costs and any other liability under this Act vests in the Crown. > > > (2) On and from the removal of an employer from Schedule 1 by virtue of an order under this Act as a consequence of a Government privatisation initiative, the employer’s liability for present and future benefits, contributions and administrative costs and any other liability under this Act vests in the Crown. > > > (3) Any surplus after meeting any liability vested in the Crown by this section is vested in the Crown. > > **s 27AC:** Ins 1993 No 42, Sch 1. Am 2005 No 52, Sch 4 \[26\] \[27\].