8. Vesting of property
(1) (a) All property in the possession or control of or held by the Committee immediately prior to the coming into operation of this Act is on the coming into operation of this Act transferred to and vests in the Minister.
(b) All contracts entered into or rights enjoyed prior to the coming into operation of this Act by the Committee shall be deemed to have been entered into or enjoyed by the Minister and the Minister shall take and exercise in respect thereof all the powers, duties, rights, liabilities and immunities of the Committee.
(2) The Minister may dispose of or sell in such manner as he thinks fit, any property that vests in him pursuant to subsection (1).
(3) The Minister shall credit to the Consolidated Fund ¾
(a) any money that results from such disposal or sale and apply the money for the purposes of this Act; and
(b) the moneys standing to the credit of the Fund on the coming into operation of this Act.
(4) A reference in any other Act or regulations to the Committee shall be construed as a reference to the Minister.
(5) Any persons employed or whose services are engaged by the Committee on the coming into operation of this Act shall be deemed to have been employed or engaged by the Minister under the provisions of this Act.
[Section 8 amended by No. 6 of 1993 s. 11; No. 49 of 1996 s. 64.]