Part 11Miscellaneous provisions
Transitional provisions relating to dissolution of District Law Societies
378Consequential provisions in relation to assets, money, and property
Where, under section 373, assets of a District Law Society become assets of an incorporated society or the New Zealand Law Society,—
- any real and personal property of that District Law Society that becomes, as from the close of the period of 6 months beginning with the date of the commencement of section 373, an asset of an incorporated society or the New Zealand Law Society, vests, as from the close of that period, in the incorporated society or the New Zealand Law Society, as the case may require, subject to all liabilities, charges, obligations, and trusts affecting that property; and
- all money payable to the District Law Society becomes, as from the close of the period of 6 months beginning with the date of the commencement of section 373, payable to the incorporated society or the New Zealand Law Society, as the case may require; and
- all proceedings pending by or against the District Law Society may, as from the close of the period of 6 months beginning with the date of the commencement of section 373, be carried on, completed, or enforced by or against the incorporated society or the New Zealand Law Society, as the case may require.
The property vested by subsection (1) in an incorporated society does not include any records of the kind referred to in section 379(1).