s. 41 41 Value of transferred property S. 41 inserted by (1) The value to a Corporation transferee of former No. 35/1998 s. 10. Corporation property as at the relevant date is the value shown in, or calculated in accordance with, the relevant allocation statement. (2) The consideration payable by a Corporation transferee in respect of former Corporation property vested in it under an allocation statement under this Part is an amount equal to the value shown in, or calculated in accordance with, the statement. S. 42 42 Substitution of party to agreement inserted by No. 35/1998 If, under an allocation statement, the rights and s. 10. liabilities of the Corporation under an agreement are allocated to a person— (a) the person becomes, on the relevant date, a party to the agreement in place of the Corporation; and (b) on and after the relevant date, the agreement has effect as if the person had always been a party to the agreement. S. 43 43 Corporation instruments inserted by No. 35/1998 Each Corporation instrument relating to former s. 10. Corporation property continues to have effect according to its tenor on and after the relevant date as if a reference in the instrument to the Corporation were a reference to the Corporation transferee. S. 44 44 Proceedings inserted by No. 35/1998 If, immediately before the relevant date, s. 10. proceedings relating to former Corporation property (including arbitration proceedings) to which the Corporation was a party were pending or existing in any court or tribunal, then, on and after that date, the Corporation transferee is
S. 41 inserted by No. 35/1998 s. 10. 41 Value of transferred property s. 41 (1) The value to a Corporation transferee of former Corporation property as at the relevant date is the value shown in, or calculated in accordance with, the relevant allocation statement. (2) The consideration payable by a Corporation transferee in respect of former Corporation property vested in it under an allocation statement under this Part is an amount equal to the value shown in, or calculated in accordance with, the statement. S. 42 inserted by No. 35/1998 s. 10. 42 Substitution of party to agreement If, under an allocation statement, the rights and liabilities of the Corporation under an agreement are allocated to a person— (a) the person becomes, on the relevant date, a party to the agreement in place of the Corporation; and (b) on and after the relevant date, the agreement has effect as if the person had always been a party to the agreement. S. 43 inserted by No. 35/1998 s. 10. 43 Corporation instruments Each Corporation instrument relating to former Corporation property continues to have effect according to its tenor on and after the relevant date as if a reference in the instrument to the Corporation were a reference to the Corporation transferee. S. 44 inserted by No. 35/1998 s. 10. 44 Proceedings If, immediately before the relevant date, proceedings relating to former Corporation property (including arbitration proceedings) to which the Corporation was a party were pending or existing in any court or tribunal, then, on and after that date, the Corporation transferee is
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