32
In forceTransfer of Fund and liabilities etc.
Part VITransitional matters for Superannuation Legislation Amendment Act 2010
32 Transfer of Fund and liabilities etc.
At the restructure time:
(a)
the Fund vests in the Trustee Board; and
(b) each liability of the old Trust becomes a liability of the Trustee Board; and
(c) in any proceedings to which the old Trust is party, the Trustee Board is substituted for the old Trust as a party to the proceedings; and
(d) any agreement or document relating to a transferred asset or liability is taken to be amended so that any reference in it to the old Trust includes, if the context permits, a reference to the Trustee Board.
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