Section 7: Savings and transfer of liabilities, staff, etc.

(1) Accordingly, the statutory functions, rights, interests, obligations and liabilities of the Institute existing before the commencement of this Act under the enactment repealed by section 6 of this Act under any contract or instrument or in law or in equity apart from any contract or instrument shall, by virtue of this Act, be deemed to have been assigned to and vested in the Centre established by section 5 of this Act.
(2) Any such contract or instrument as is mentioned in subsection (1) of this section, shall be of the same force and effect against or in favour of the Centre established by this Act and shall be enforceable as fully and effectively as if instead of the Institute existing before the commencement of this Act, the Centre established by this Act has been named therein or had been a party thereto.
(3) The Centre established by this Act shall be subject to all the obligations and liabilities to which the Institute existing before the commencement of this Act was subject to immediately before the commencement of this Act and all other persons shall have the same rights, powers and remedies against the Centre established by this Act as they had against the Institute existing before the commencement of this Act.
(4) Any proceeding or cause of action pending or existing immediately before the commencement of this Act, by or against the Institute existing before the commencement of this Act in respect of any right, interest, obligation or liability of the Institute existing before the commencement of this Act may be continued or, as the case may be, commenced against the Centre established by this Act and any determination of a court of law, tribunal or other authority or person may be enforced by or against the Centre established by this Act to the same extent that such proceedings or cause of action or determination might have been continued, commenced or enforced by or against the Institute existing before the commencement of this Act.
(5) All assets, funds, resources and other movable or immovable property which immediately before the commencement of this Act, were vested in the Institute existing before the commencement of this Act shall by virtue of this Act and without further assurance, be vested in the Centre established by this Act.
(6) Any person who immediately before the coming into force of this Act is the holder of any office in the Institute existing before the commencement of this Act shall on the commencement of this Act, continue in office and be deemed to have been appointed to his office by the Centre established by this Act unless the authority by which the person was appointed terminates the appointment.