Insurers Guarantee Fund
27 Insurers Guarantee Fund
On the commencement, the control, direction and management of the assets, rights and liabilities of the Insurers Guarantee Fund is transferred from the Authority to ICNSW.
A proceeding relating to the asset, right or liability by or against the Authority that was started and not finally determined before the transfer is taken to be a proceeding by or against ICNSW.
Another act, matter or thing done or omitted to be done in relation to an asset, right or liability of the Insurers Guarantee Fund by, or in relation to, the Authority is, to the extent the act, matter or thing has any force or effect, taken to have been done or omitted by, to or in relation to ICNSW.
A reference in an Act, or in an instrument of any kind, including a contract or agreement, to the Authority so far as the reference relates to the assets, rights and liabilities of the Insurers Guarantee Fund, is taken to be a reference to ICNSW.
In this section—
commencement means the commencement of this clause.
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