Subdiv 3General transitional provisions

Subdivision 3 — General transitional provisions

110. Annual report for part of a year

The accountable authority, as defined in the Financial Administration and Audit Act 1985, of the BCB is to report in respect of that body as required by section 66 of that Act, but limited to the period from the preceding 1 August to the appointed day, and Division 14 of Part II of that Act applies as if that period were a full financial year.

111. Completion of things commenced

Anything commenced to be done by the BCB under the BC Act before the appointed day may be continued by the Commission so far as the doing of that thing is within the functions of the Commission after the appointed day.

112. Continuing effect of things done

Any act, matter or thing done or omitted to be done before the appointed day by, to or in respect of the BCB, to the extent that that act, matter or thing —

(a) has any force; and

(b) is not governed by section 106(f),

is to be taken to have been done or omitted by, to or in respect of the Commission so far as the act, matter or thing is relevant to the Commission.

113. Immunity to continue

Where the BCB had the benefit of any immunity in respect of an act, matter or thing done or omitted before the appointed day, that immunity continues in that respect for the benefit of the Commission.

114. Agreements and instruments generally

(1) This section applies to any agreement or instrument subsisting immediately before the appointed day that does not come within the provisions of section 106(c).

(2) Any agreement or instrument to which this section applies —

(a) to which the BCB was a party; or

(b) which contains a reference to the BCB,

has effect after the appointed day as if —

(c) the Commission were substituted for the BCB as a party to the agreement or instrument; and

(d) any reference in the agreement or instrument to the BCB were (unless the context otherwise requires) a reference to the Commission.

115. BCB to perform necessary transitional functions

(1) Despite the repeal of section 6 of the BC Act by section 79 of this Act, the BCB continues in existence for the purpose of —

(a) reporting as required by section 110; and

(b) performing the functions described in section 106(g).

(2) The accountable authority, as defined in the Financial Administration and Audit Act 1985, also continues in existence for the purpose described in subsection (1)(a).