Commonwealth Numbered Acts

AUSTRALIAN NATIONAL UNIVERSITY ACT 1991 No. 131 of 1991 - SECT 58

58. (1) At the commencement, the assets and liabilities of the Arts Institute
become assets and liabilities of the University.

(2) The following provisions apply to assets and liabilities that have become
assets and liabilities of the University because of subsection (1):

   (a)  an asset that was, immediately before the commencement, held by the
        Arts Institute on trust must, after the commencement, be held by the
        University on trust and subject to the terms of the trust on which the
        asset was so held by the Arts Institute;

   (b)  liabilities of the Arts Institute to make payments must, after the
        commencement, be taken to be liabilities incurred by the University in
        the performance of its functions and the exercise of its powers.