sec.177Pt 3 does not affect existing legal relationships

### sec.177 Pt 3 does not affect existing legal relationships Nothing done under this part in relation to a former board— places the corresponding new control body in breach of a contract, trust or confidence or otherwise makes the corresponding new control body guilty of a civil wrong; or makes the corresponding new control body in breach of any instrument, including an instrument prohibiting, restricting or regulating the assignment, transfer or assumption of a right or liability; or is taken to fulfil a condition or otherwise constitute an event— allowing a person to terminate an instrument or be released, wholly or partly, from an obligation or modify the operation or effect of an instrument or obligation; or requiring money to be paid, or anything else to be done, before its stated maturity; or releases a surety or other obligee, wholly or partly, from an obligation. s 177 prev s 177 amd 2005 No. 14 s 2 sch om 2009 No. 24 s 724 pres s 177 ins 2008 No. 24 s 24 - (a) places the corresponding new control body in breach of a contract, trust or confidence or otherwise makes the corresponding new control body guilty of a civil wrong; or - (b) makes the corresponding new control body in breach of any instrument, including an instrument prohibiting, restricting or regulating the assignment, transfer or assumption of a right or liability; or - (c) is taken to fulfil a condition or otherwise constitute an event— (i) allowing a person to terminate an instrument or be released, wholly or partly, from an obligation or modify the operation or effect of an instrument or obligation; or (ii) requiring money to be paid, or anything else to be done, before its stated maturity; or - (i) allowing a person to terminate an instrument or be released, wholly or partly, from an obligation or modify the operation or effect of an instrument or obligation; or - (ii) requiring money to be paid, or anything else to be done, before its stated maturity; or - (d) releases a surety or other obligee, wholly or partly, from an obligation. - (i) allowing a person to terminate an instrument or be released, wholly or partly, from an obligation or modify the operation or effect of an instrument or obligation; or - (ii) requiring money to be paid, or anything else to be done, before its stated maturity; or