11Director to be successor to Housing Commission and Home Finance Trust

11 Director to be successor to Housing Commission and Home Finance Trust (1) In this section— (a) ***appointed day*** means the day on which this Act comes into operation; (b) ***Commission*** means the Housing Commission established by the **Housing Act 1958**; and (c) ***Trust*** means the Home Finance Trust constituted under the **Home Finance Act 1962**. (2) On the appointed day— (a) all rights, property and assets that, immediately before that day, were vested in the Commission or the Trust are, by force of this subsection, vested in the Director; (b) all debts, liabilities and obligations of the Commission or the Trust existing immediately before that day, become, by force of this subsection, debts, liabilities and obligations of the Director; (c) the Director shall, by force of this subsection, be substituted as a party to any proceedings pending in any court to which the Commission or the Trust was a party immediately before that day; (d) the Director shall, by force of this subsection, be substituted as a party to any arrangement or contract entered into by or on behalf of the Commission or the Trust as a party and in force immediately before that day; and (e) any reference to the Commission or the Trust in any Act or in any proclamation, Order in Council, rule, regulation, order, agreement, instrument, deed or other document whatsoever shall, so far as it relates to any period after that day and if not inconsistent with the context or subject-matter, be construed as a reference to the Director. Pt 2 Div. 3 (Heading and ss 11A–11H) inserted by No. 40/2022 s. 20.