65Employer liabilities after Government initiative takes effect

#### 65 Employer liabilities after Government initiative takes effect 65 Employer liabilities after Government initiative takes effect > > (1) On and from a transfer of contributors 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 contributors for present and future pensions or other benefits financed by the employer and administrative costs and any other liability under this Act vests in the Crown. > > > (2) On and from the removal of an employer by virtue of an order under this Part, the employer’s liability for present and future pensions or other benefits financed by the employer 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 65:** Am 1967 No 93, sec 2 (1) (l). Subst 1970 No 7, sec 6 (1) (b); 1972 No 66, sec 7 (d). Rep 1991 No 95, Sch 10 (11). Ins 1993 No 42, Sch 1. Am 2005 No 52, Sch 6 \[12\] \[13\].