Property, rights and liabilities of Commission
5 Property, rights and liabilities of Commission
On and from the appointed day—
all real and personal property and all right and interest therein and all management and control thereof that, immediately before that day, was vested in or belonged to the Commission shall vest in and belong to the Corporation,
all moneys and liquidated and unliquidated claims that, immediately before that day, were payable to or recoverable by the Commission shall be moneys and liquidated and unliquidated claims payable to or recoverable by the Corporation,
all proceedings commenced before that day by the Commission and pending immediately before that day shall be deemed to be proceedings pending on that day by the Corporation and all proceedings so commenced by any person against the Commission and pending immediately before that day shall be deemed to be proceedings pending on that day by that person against the Corporation,
all contracts, agreements, arrangements and undertakings entered into with, and all securities lawfully given to or by, the Commission and in force immediately before that day shall be deemed to be contracts, agreements, arrangements and undertakings entered into with and securities given to or by the Corporation,
the Corporation may, in addition to pursuing any other remedies or exercising any other powers that may be available to it, pursue the same remedies for the recovery of moneys and claims referred to in this subclause and for the prosecution of actions and proceedings so referred to as the Commission might have done but for the enactment of the cognate Acts,
the Corporation may enforce and realise any security or charge existing immediately before that day in favour of the Commission and may exercise any powers thereby conferred on the Commission as if the security or charge were a security or charge in favour of the Corporation,
all debts, moneys and claims, liquidated and unliquidated, that, immediately before that day, were due or payable by, or recoverable against, the Commission shall be debts due by, moneys payable by and claims recoverable against, the Corporation, and
all liquidated and unliquidated claims for which the Commission would, but for the enactment of the cognate Acts, have been liable shall be liquidated and unliquidated claims for which the Corporation shall be liable.
On and from the appointed day, in any other Act or in any regulation, by-law or other statutory instrument or in any document, whether of the same or of a different kind, a reference, or a reference required immediately before the appointed day, to be read and construed as reference—
to the Commission shall, subject to the regulations under clause 13, be read and construed as a reference to the Minister, Department, Director-General, Corporation or Foundation, whichever is appropriate, and
to any officer of the Commission shall be read and construed as a reference—
if there is an office in the staff establishment of the Department that corresponds to the office held by that officer—to the person holding that office in the establishment of the Department, or
if there is no such corresponding office—to the person holding such office in the staff establishment of the Department as may be directed by the Director-General from time to time by order in writing.
Any act, matter or thing done or omitted to be done before the appointed day by, to or in respect of the Commission or a member, officer or servant of the Commission shall, to the extent that, but for the enactment of the cognate Acts, that act, matter or thing would on or after that day have had any force or effect or been in operation, be deemed to have been done by, to or in respect of the Minister, Department, Director-General, Corporation or Foundation or an officer of the Department or an employee of the Corporation, whichever of them is, on or after that day, appropriate in relation to the doing of or the omission to do that act, matter or thing.
No attornment to the Corporation by a lessee from the Commission shall be required.
This provision refers to the regulations (any regulation
, the regulations
). Made under this Act:
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