66   Repeal of this Act

             (1)  As soon as practicable after the end of 10 years from the commencement of this Act, the Minister must, by notice published in the Gazette , specify a day on which this Act is to be repealed.

             (2)  This Act is repealed at the beginning of that day.

67   Transfer of assets

             (1)  The Minister may, by writing, make any or all of the following declarations:

                     (a)  a declaration that a specified asset vests in a specified person immediately before the repeal time without any conveyance, transfer or assignment;

                     (b)  a declaration that a specified instrument relating to a specified asset continues to have effect after the asset vests in the specified person as if a reference in the instrument to the Trust were a reference to the person;

                     (c)  a declaration that the specified person becomes the Trust’s successor in law in relation to a specified asset immediately after the asset vests in the person.

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

             (2)  A declaration under subsection (1) has effect accordingly.

             (3)  A copy of a declaration under subsection (1) is to be published in the Gazette within 14 days after the making of the declaration.

             (4)  Subsection (1) does not prevent the Trust from transferring an asset to a person otherwise than under that subsection.

68   Transfer of liabilities

             (1)  The Minister may, by writing, make any or all of the following declarations:

                     (a)  a declaration that a specified liability ceases to be a liability of the Trust and becomes a liability of the specified person immediately before the repeal time;

                     (b)  a declaration that a specified instrument relating to a specified liability continues to have effect after the liability becomes a liability of the specified person as if a reference in the instrument to the Trust were a reference to the person;

                     (c)  a declaration that the specified person becomes the Trust’s successor in law in relation to a specified liability immediately after the liability becomes a liability of the person.

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

             (2)  A declaration under subsection (1) has effect accordingly.

             (3)  A copy of a declaration under subsection (1) is to be published in the Gazette within 14 days after the making of the declaration.

             (4)  Subsection (1) does not prevent the Trust from transferring a liability to a person otherwise than under that subsection.

69   Residual assets and liabilities

             (1)  Immediately before the repeal time, any residual assets and liabilities that have not been covered by a declaration under section 67 or 68 vest in the Commonwealth.

             (2)  Any instrument relating to such an asset or liability continues to have effect after the asset or liability vests in the Commonwealth as if a reference in the instrument to the Trust were a reference to the Commonwealth.