(1) On transition day
—
(a) the
assets and rights of the State Supply Commission are assigned to and become
the assets and rights of the Procurement Executive Body; and
(b) the
liabilities of the State Supply Commission are assigned to and become the
liabilities of the Procurement Executive Body.
(2) On and after
transition day, any proceedings or remedy that might have been commenced by or
against, or might have been available to or against, the State Supply
Commission in relation to the assets, rights and liabilities assigned by
subsection (1) may be commenced by or against, or are available to or against,
the Procurement Executive Body.
(3) On and after
transition day, an act done or omitted to be done in relation to the assets,
rights and liabilities assigned by subsection (1) before the assignment, by,
to or in respect of the State Supply Commission is, to the extent that the act
or omission has any effect, taken to have been done or omitted to be done by,
to or in respect of the Procurement Executive Body.
(4) Despite the
abolition of the State Supply Commission, if the Commission had the benefit of
any immunity in respect of an act, matter or thing done or omitted to be done
before transition day, that immunity continues on and after transition day for
the benefit of the Procurement Executive Body.