Document ID: chunk:federal_register_of_legislation:C2004C00357:clause:3_24
Version: federal_register_of_legislation:C2004C00357
Segment Type: clause
Provision Reference: sch 3 cl 24
Character Range: 32509–33233

24  Existing contracts

  After the rights, property or assets referred to in subparagraph 22(2)(b)(i) or subsection 23(2), as the case may be, are transferred to a person in accordance with that subparagraph or subsection, such contracts (if any) as are specified in, or ascertained in accordance with, the agreement, being contracts to which the Trust was a party at the time immediately before the transfer took place, have effect as if:
 (a) that person were substituted for the Trust as a party to each contract; and
 (b) any reference in such a contract to the Trust were (except in relation to matters that occurred before that time) a reference to that person;
and the Trust ceases to be a party to the contracts.