147
CurrentAlteration of agreements and instruments on cessation of an R&D Corporation
Part 5Miscellaneous
147 Alteration of agreements and instruments on cessation of an R&D Corporation
Where an R&D Corporation ceases to exist as a result of the repeal of regulations made for the purposes of section 8, all the agreements and instruments to which the Corporation was a party immediately before the cessation have effect, after the cessation, as if:
(a)
the Commonwealth were substituted for the Corporation as a party to the agreement or instrument; and
(b)
any reference in the agreement or instrument to the Corporation were (except in relation to matters that occurred before the cessation) a reference to the Commonwealth.
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