SCHEDULE 5 - Savings and trans SCHEDULE 5 - Savings and transitional provisions

Section 43

1.   Interpretation

In this Schedule –

commencement day means the day on which section 2 (1) of this Act commences;

Commission means the Forestry Commission in existence immediately before the commencement of the Forestry Amendment (Forestry Corporation) Act 1994 ;

Council means the Private Forestry Council in existence immediately before the commencement day;

Forestry Act means the Forestry Act 1920 as in force immediately before the commencement of the Forestry Amendment (Forestry Corporation) Act 1994 .

2.   Property and rights

On the commencement day the property and rights of the Council vest in the Authority and the liabilities of the Council become the liabilities of the Authority.

3.   Contracts and agreements, &c.

On and after the commencement day –

(a) any contract or agreement entered into by the Council and in force immediately before that day is taken to be a contract or agreement entered into by the Authority; and

(b) any agreement entered into by the Commission under Division II of Part IIA or under Part IIB of the Forestry Act and in force immediately before that day is taken to be an agreement entered into by the Authority; and

(c) the Authority may exercise any power that the Commission could have exercised in relation to an agreement referred to in paragraph (b) as if and had not been repealed; and