256Proceedings

256 Proceedings (1) This section applies if— (a) property or rights of a transferring agency vest in a receiving agency under section 253 or 254; or (b) liabilities of a transferring agency become the liabilities of a receiving agency under section 253 or 254. (2) If, immediately before the effective date of the relevant Order, proceedings relating to the property, rights or liabilities (including arbitration proceedings) to which the transferring agency was a party were pending or existing in any court or tribunal, then, on and after that date, the receiving agency is substituted for the transferring agency as a party to the proceedings and has the same rights in the proceedings as the transferring agency had. S. 257 inserted by No. 52/2004 s. 51.