38Transfer of liabilities from Commonwealth to Tourism Australia

38 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 is, or relates to, a tourism trade mark: (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 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.