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CFM Sale Act 1996
No. 58, 1996
In force
Administered by
Department of Finance
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C2026C00440 C05
19 September 2026
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Part 1—Preliminary
1 Short title
2 Commencement
3 Definitions
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Part 2—Transfer of CFM subsidiaries to the Commonwealth
5 What this Part is about
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Division 1—Subsidiaries
6 Subsidiaries to be established
7 CFM to transfer shares in subsidiaries to the Commonwealth
8 Exemption from stamp duty and other taxes
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Division 2—Staff
9 Transfer of staff from CFM
10 Terms and conditions of transferred employees
11 Variation of terms and conditions of employment
12 Statement of accrued benefits
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Division 4—Application of other legislation
20 Approved authority—Superannuation Act 1976
21 Approved authority—Superannuation Act 1990
22 Commonwealth authority—Safety, Rehabilitation and Compensation Act 1988
23 Public authority of the Commonwealth—Long Service Leave (Commonwealth Employees) Act 1976
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Part 3—Sale of CFM bodies
24 What this Part is about
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Division 1—Preliminary
25 Sale day for CFM
26 Sale day for transferred body
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Division 2—Long service leave
27 What this Division is about
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Subdivision 2A—Preliminary
28 Definitions
29 References to Long Service Leave Act
30 Division not to affect an employee’s post-sale long service leave rights
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Subdivision 2B—Long service leave for employees who attain at least 10 years service
31 What this Subdivision is about
32 Employees who attain 10 years service
33 Employees reaching minimum retiring age or being retrenched
34 Rate of salary
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Subdivision 2C—Payments in lieu of long service leave
35 What this Subdivision is about
36 Employees who attain 10 years service
37 Employees reaching minimum retiring age or being retrenched
38 Employee stops employment because of ill-health
39 Employee may request non-payment or reduced payment
40 Rate of salary
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Subdivision 2D—Payments on the death of an employee
41 What this Subdivision is about
42 Payments on death of an employee
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Subdivision 2E—Long service leave credit
43 Employee’s long service leave credit for the purposes of Subdivisions 2B and 2C
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Subdivision 2F—Saving: Long Service Leave Act
44 Saving—Accrued rights under the Long Service Leave Act
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Division 3—Superannuation
45 What this Division is about
46 Deferred benefits under the Defence Force Retirement and Death Benefits Act 1973
47 Period of eligible employment for the purposes of Division 3 of Part IX of the Defence Force Retirement and Death Benefits Act 1973
48 Continuing application of the Crimes (Superannuation Benefits) Act 1989
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Division 4—Safety, Rehabilitation and Compensation Act 1988
49 What this Division is about
50 Definitions
51 Continued application of the Safety, Rehabilitation and Compensation Act 1988
52 Continued application to certain employees
53 Transitional provisions relating to Division 4A of Part VII
54 Relevant employer and co-operation with the Commonwealth
55 Notification of amount of salary paid to employees of a CFM body
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Division 5—Occupational Health and Safety (Commonwealth Employment) Act 1991
56 Refund of contribution paid under the Occupational Health and Safety (Commonwealth Employment) Act 1991
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Division 6—Mobility rights
57 Cessation of mobility rights
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Division 7—Prosecutions
58 Continuing application of the Director of Public Prosecutions Act 1983
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Division 8—Imputation
59 Franking account surpluses reduced to nil
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Division 9—Miscellaneous
60 CFM body not to be an agency of the Commonwealth etc.
61 Regulations connected with the sale of a CFM body
62 Certain provisions of the Commonwealth Funds Management Limited Act 1990 cease to apply to CFM bodies
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Part 4—Transfer of assets, liabilities, rights and obligations of CFM bodies
63 What this Part is about
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Division 1—Preliminary
64 Definitions
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Division 2—Transfer of assets
65 Transfer of assets
66 References to CFM body in instruments relating to transferred assets
67 Transferees are successors in law of CFM body
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Division 3—Transfer of rights and obligations
68 Transfer of rights and obligations
69 References to CFM body in instruments relating to transferred rights and obligations
70 Transferees are successors in law of CFM body
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Division 4—Transfer of liabilities
71 Transfer of liabilities
72 References to CFM body in instruments relating to transferred liabilities
73 Transferees are successors in law of CFM body
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Division 5—Tax exemption and income tax treatment
74 Exemption from stamp duty and other taxes
75 Application of the Income Tax Assessment Act 1936 in relation to certain transfers
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Division 6—Miscellaneous
76 Transfers of CFM land may be registered
77 Lands Acquisition Act 1989 does not apply to this Part
78 Certificates in relation to assets other than land
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Part 5—Miscellaneous
79 Compensation—constitutional safety net
80 Operation of this Act does not place a person in breach of contract etc.
81 Commonwealth records
82 Regulations
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Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
