51Continuity of contracts and arrangements

51 Continuity of contracts and arrangements

51 Continuity of contracts and arrangements

(1) Without limiting any other provision of this Act or the regulations, AFML is, on and after the conversion, entitled to the benefit of, and taken to be a party to, any contract or arrangement entered into by AFMC with FTC, STC or any other person and having force immediately before the conversion.

(2) Section 52 does not affect the operation or continuity of any contract or arrangement referred to in subsection (1) and does not prevent AFML from entering into a contract or an arrangement with FTC, STC or any other trustee under the Superannuation Administration Act 1996.

Note—

This provision ensures that AFML continues to be entitled to the benefit of contracts or arrangements entered into by AFMC under which AFMC provided superannuation scheme investment services.