Western Australian Current Acts Western Australian Current Acts As soon as reasonably
practicable after the commencement day, the Board is to wind-up its affairs
and in particular, but without limiting what may be done to wind-up its
affairs, the Board is to apply its assets, together with any money in hand, in
—
(a)
discharging its liabilities; and
(b)
transferring any assets which remain after the discharge of liabilities (
residual assets ) to the State to be administered in the department, or
realising residual assets and causing the proceeds, together with any moneys
in hand, to be credited to the Consolidated Account.
[Section 63 inserted: No. 58 of 2010 s. 49.]