323Substitution of party to agreement

323 Substitution of party to agreement If, under an allocation statement, rights and liabilities related to property of the Secretary under an agreement and relevant agreement rights and relevant agreement liabilities are allocated to the TSC in accordance with a direction under section 320— (a) the TSC becomes, on the relevant date, a party to the agreement in place of the Secretary; and (b) on and after the relevant date, the agreement has effect as if the TSC had always been a party to the agreement. S. 324 inserted by No. 34/2011 s. 125.