If the rights and liabilities of the Authority under an agreement are rights that vest in or liabilities that become liabilities of Cladding Safety Victoria under this Part—
(a) Cladding Safety Victoria becomes, on the commencement day, a party to the agreement in place of the Authority; and
(b) on and after the commencement day, the agreement has effect as if Cladding Safety Victoria had always been a party to the agreement.