257Effect of transfer of assets and liabilities to Commission

#### 257 Effect of transfer of assets and liabilities to Commission The following provisions apply to assets or liabilities that become assets or liabilities of the Commission because of section 254 or 256: (a) an asset that was, immediately before the commencement of the section concerned, held by the NCSC on trust is, after that commencement, to be held by the Commission on trust and subject to the terms of the trust on which the asset was so held by the NCSC; (b) liabilities of the NCSC to make payments are, after the commencement of the section concerned, taken to be liabilities incurred by the Commission in the performance of its functions and the exercise of its powers.