151Abolition of the Authority

151 Abolition of the Authority On the commencement day— (a) the Authority is abolished and its members go out of office; and (b) all property and rights that, immediately before that day, were vested in the Authority, vest in the Secretary; and (c) all liabilities of the Authority existing immediately before that day become liabilities of the Secretary; and (d) the Secretary is substituted as a party to any proceeding pending in any court or tribunal to which the Authority was a party immediately before that day; and (e) the Secretary is substituted as a party to any arrangement or contract entered into by or on behalf of the Authority as a party and in force immediately before that day. New s. 152 inserted by No. 39/2024 s. 80.