Albury-Wodonga Development Corporation (Abolition) Act 2014 (117 of 2014)

Schedule 1   Amendments

Part 3   Transitional provisions

Division 2   Transfer of assets and liabilities

10   Liabilities

(1) This item applies to the liabilities of the Corporation immediately before the commencement time.

(2) At the commencement time, the liabilities cease to be liabilities of the Corporation and become liabilities of the Commonwealth without any conveyance, transfer or assignment. The Commonwealth becomes the successor in law in relation to the liabilities.