HOWARD FLOREY INSTITUTE OF EXPERIMENTAL PHYSIOLOGY AND MEDICINE (REPEAL) ACT 2007 - SECT 5 Abolition of former body

HOWARD FLOREY INSTITUTE OF EXPERIMENTAL PHYSIOLOGY AND MEDICINE (REPEAL) ACT 2007 - SECT 5

    (1)     On the commencement day—

        (a)     the former body is abolished; and

        (b)     a person holding office as a member of the former body ceases to hold office; and

        (c)     the Board is abolished; and

        (d)     a person holding office as a member of the Board ceases to hold office; and

        (e)     any Committee, including an Executive Committee, constituted and appointed by the Board is abolished.

    (2)     On the commencement day—

        (a)     the new body is the successor in law of the former body; and

        (b)     all rights, property and assets that immediately before that day were vested in the former body become, by force of this section, vested in the new body; and

        (c)     all debts, liabilities and obligations of the former body become, by force of this section, debts, liabilities and obligations of the new body; and

        (d)     the new body is, by force of this section, substituted as a party to any proceedings pending in any court or tribunal to which the former body was a party immediately before the commencement day; and

        (e)     the new body is, by force of this section, substituted as a party to any arrangement or contract entered into by or on behalf of the former body as a party and in force immediately before that day; and

        (f)     any reference to the former body in any Act or in any proclamation, Order in Council, rule, regulation, order, agreement, instrument, deed or other document is, so far as it relates to any period after that day and if not inconsistent with the context or subject-matter, construed as a reference to the new body.