(1) On the commencement day—
(a) the old Boards are abolished; and
(b) all members of the old Boards go out of office.
(2) On and from the commencement day—
(a) Alpine Resorts Victoria is the successor in law of each old Board for the purposes of any matter; and
(b) all property, rights and assets of each old Board immediately before its abolition become property, rights and assets of Alpine Resorts Victoria; and
(c) all liabilities, debts and obligations of each old Board immediately before its abolition become liabilities, debts and obligations of Alpine Resorts Victoria; and
(d) Alpine Resorts Victoria is substituted as a party to any proceeding pending in any court or tribunal to which an old Board was a party immediately before the commencement day; and
(e) Alpine Resorts Victoria is substituted as a party to any contract or arrangement entered into by or on behalf of an old Board that was in force immediately before the commencement day.
(3) Any reference to an old Board (however described) in any Act, proclamation, subordinate instrument, order, agreement, instrument, deed or other document, so far as it relates to any period after the commencement day, and if not inconsistent with the context or subject matter, is taken to be a reference to Alpine Resorts Victoria.
(4) Without limiting this section, on and from the commencement day, any contributions fixed under section 13 and required to be paid to a Board are taken to be contributions fixed by Alpine Resorts Victoria under section 13 as amended by the 2022 Act and are payable to Alpine Resorts Victoria accordingly.
S. 60 substituted by No. 9/2022 s. 21.