258NCSC instruments

#### 258 NCSC instruments (1) An NCSC instrument continues to have effect after the commencement but, in its operation in relation to acts, transactions, matters or things done, entered into or occurring after that commencement, has effect as if a reference in the instrument to the NCSC were a reference to the appropriate new body. (2) For the purposes of the application of subsection (1) in relation to an NCSC instrument, the appropriate new body is: (a) in so far as the instrument relates to an asset or liability that has, because of section 254 or 256, become an asset or liability of the Commission—the Commission; and (b) otherwise—the Commonwealth.