29Transfer of liabilities from Commonwealth to Tourism Australia

29 Transfer of liabilities from Commonwealth to Tourism Australia

(1) The Minister may, in writing, make any or all of the following declarations in relation to a liability of the Commonwealth that relates to the Tourism Forecasting Council: (a) a declaration that the liability vests in Tourism Australia on the proclamation day without any conveyance, transfer or assignment; (b) a declaration that a specified instrument relating to the liability continues to have effect on and after the proclamation day as if a reference in the instrument to the Commonwealth or the Tourism Forecasting Council were a reference to Tourism Australia; (c) a declaration that Tourism Australia becomes the Commonwealth’s successor in law in relation to the liability on the proclamation day.

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

(2) The declaration has effect accordingly.