Section 10: TRANSFER TO THE INSTITUTE OF CERTAIN PROPERTY

(1) At from the commencement of this Act-
(a) all assets and liabilities held or incurred immediately before the commencement date, by or on behalf of the Incorporated Institute shall vest in the Institute and be held by it for the purpose of the lnstitute ;
(b) the lncorporated Institute shall cease to exist ; and
(c) subject to subsection (2), any act, matter or thing made or done by the Incorporated Institute shall be deemed to have been done by the Institute.
(2) The provisions of the Second Schedule to this Act shall have effect with respect to the matters arising from their transfer by this section to the Institute of the properties of the Incorporated lnstitute and with respect to
other matters mentioned in that Schedule.