Commonwealth Numbered Acts

EMPLOYMENT, EDUCATION AND TRAINING ACT 1988 No. 80 of 1988 - SECT 70

70. (1) On the commencement day:

   (a)  any rights, property or assets (including records and documents) that,
        immediately before that day, were vested in a defunct body vest, by
        force of this subsection, in the Commonwealth; and

   (b)  the Commonwealth becomes, by force of this subsection, liable to pay
        or discharge any debts, liabilities or obligations of the defunct body
        that existed immediately before that day.

(2) Any contract to which a defunct body was a party immediately before the
commencement day has effect on and after that day as if:

   (a)  the Commonwealth were substituted for the defunct body as a party to
        the contract; and

   (b)  a reference in the contract to the defunct body were (except in
        relation to matters that occurred before that day) a reference to the
        Commonwealth.

(3) If, immediately before the commencement day, proceedings to which a
defunct body was a party were pending in a court or tribunal, the Commonwealth
is, on that day, by force of this subsection, substituted for the defunct body
as a party to the proceedings and has the same rights in the proceedings as
the party for which it is substituted.