sec.57Current instruments

### sec.57 Current instruments This section applies to a contract or other instrument to which the former Trust was a party, or that otherwise applied to the former Trust, immediately before the commencement (a current instrument ). On the commencement, the council becomes a party to the current instrument, or the current instrument otherwise applies to the council, in place of the former Trust. Without limiting subsection (2)— any right, title, interest or liability of the former Trust arising under or relating to a current instrument is a right, title, interest or liability of the council; and a current instrument, including a benefit or right provided by a current instrument, given to, by or in favour of the former Trust before the commencement is taken to have been given to, by or in favour of the council; and an application relating to a current instrument made in the name of the former Trust before the commencement is taken to have been made in the name of the council; and a current instrument under which an amount is, or may become, payable to or by the former Trust is taken to be an instrument under which the amount is, or may become, payable to or by the council in the way the amount was, or might have become, payable to or by the former Trust; and a current instrument under which property, other than money, is or may become liable to be transferred, conveyed or assigned to or by the former Trust is taken to be an instrument under which property is, or may become liable to be, transferred, conveyed or assigned to or by the council in the way the property was, or might have become, liable to be transferred, conveyed or assigned to or by the former Trust. (sec.57-ssec.1) This section applies to a contract or other instrument to which the former Trust was a party, or that otherwise applied to the former Trust, immediately before the commencement (a current instrument ). (sec.57-ssec.2) On the commencement, the council becomes a party to the current instrument, or the current instrument otherwise applies to the council, in place of the former Trust. (sec.57-ssec.3) Without limiting subsection (2)— any right, title, interest or liability of the former Trust arising under or relating to a current instrument is a right, title, interest or liability of the council; and a current instrument, including a benefit or right provided by a current instrument, given to, by or in favour of the former Trust before the commencement is taken to have been given to, by or in favour of the council; and an application relating to a current instrument made in the name of the former Trust before the commencement is taken to have been made in the name of the council; and a current instrument under which an amount is, or may become, payable to or by the former Trust is taken to be an instrument under which the amount is, or may become, payable to or by the council in the way the amount was, or might have become, payable to or by the former Trust; and a current instrument under which property, other than money, is or may become liable to be transferred, conveyed or assigned to or by the former Trust is taken to be an instrument under which property is, or may become liable to be, transferred, conveyed or assigned to or by the council in the way the property was, or might have become, liable to be transferred, conveyed or assigned to or by the former Trust. - (a) any right, title, interest or liability of the former Trust arising under or relating to a current instrument is a right, title, interest or liability of the council; and - (b) a current instrument, including a benefit or right provided by a current instrument, given to, by or in favour of the former Trust before the commencement is taken to have been given to, by or in favour of the council; and - (c) an application relating to a current instrument made in the name of the former Trust before the commencement is taken to have been made in the name of the council; and - (d) a current instrument under which an amount is, or may become, payable to or by the former Trust is taken to be an instrument under which the amount is, or may become, payable to or by the council in the way the amount was, or might have become, payable to or by the former Trust; and - (e) a current instrument under which property, other than money, is or may become liable to be transferred, conveyed or assigned to or by the former Trust is taken to be an instrument under which property is, or may become liable to be, transferred, conveyed or assigned to or by the council in the way the property was, or might have become, liable to be transferred, conveyed or assigned to or by the former Trust.