Construction Industry (Long Service) Act 1997
11Previous fund
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11 Previous fund
(1) Any amount standing to the credit of the previous fund immediately before the commencement day is, on that day, transferred to and vests in the company.
(2) Any liability or obligation required to be met out of the previous fund before the commencement day is, on or after that day, to be met by the company.
(3) Any amount due to the previous fund before the commencement day is, on or after that day, recoverable as an amount due to the company.
(4) Any liability, obligation or costs incurred in relation to replacing the previous scheme by the new scheme is to be met by the company.