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Tourism Australia (Repeal and Transitional Provisions) Act 2004
6Transfer of assets and liabilities
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6 Transfer of assets and liabilities
(1) This section applies to: (a) the assets of the ATC; and (b) the liabilities of the ATC. (2) On the proclamation day: (a) the assets and liabilities cease to be assets and liabilities of the ATC and become assets and liabilities of Tourism Australia without any conveyance, transfer or assignment; and (b) Tourism Australia becomes the ATC’s successor in law in relation to the assets and liabilities immediately after they become assets and liabilities of Tourism Australia.