9Re‑transfer of liabilities

9 Re‑transfer of liabilities

(1) This section applies to a liability that became a liability of the ACA under section 8. (2) The Minister may, by writing, make any or all of the following declarations: (a) a declaration that a specified liability ceases to be a liability of the ACA and becomes a liability of the Commonwealth at a specified time; (b) a declaration that a specified instrument relating to a specified liability continues to have effect after the liability becomes a liability of the Commonwealth as if a reference in the instrument to the ACA were a reference to the Commonwealth; (c) a declaration that the Commonwealth becomes the ACA’s successor in law in relation to a specified liability immediately after the liability becomes a liability of the Commonwealth. (3) A declaration under subsection (2) has effect accordingly. (4) A time specified under subsection (2) must be before 1 January 1998.

Note: A liability or instrument may be specified by name, by inclusion in a specified class or in any other way.