If a body corporate is registered under Part 2-3 as an Aboriginal and Torres Strait Islander corporation as a result of an application made under section 22-1, registration under Part 2-3 does not:
(a) create a new legal entity; or
(b) affect the body's existing property, rights or obligations (except as against the members of the body in their capacity as members); or
(c) render defective any legal proceedings by or against the body or its members.
Note: The Aboriginal and Torres Strait Islander corporation remains in existence until it is deregistered (see Chapter 12).