නිල පරිවර්තනයවෙනස් නොකළ පාඨය, Department of Government Printing වෙතින්
(1)
The National Institute of Fisheries and Nautical
Engineering Act, No. 36 of 1999 shall stand repealed from such date as the Minister shall specify by Order published in the Gazette, provided the date to be so specified shall be a date after three months but within six months of the appointed date.
(2)
Notwithstanding the repeal of the aforementioned Act, from and after the date specified in the Order made under subsection (1) of this section-
(a)
all movable and immovable property of the National
Institute of Fisheries and Nautical Engineering shall, from the date specified in the Order made under subsection (1), vest in the University;
(b)
all contracts and agreements entered into by or with the National Institute of Fisheries and Nautical
Engineering and subsisting on the day immediately preceding the date specified in the Order made under subsection (1), shall be deemed to be contracts and agreements entered into, by or with the
University;
(c)
all sums of money lying to the credit of the Fund of the National Institute of Fisheries and Nautical
Engineering on the day immediately preceding the date specified in the Order made under subsection
55
Ocean University of Sri Lanka
(1)
, shall stand transferred with effect from that date, to the Fund established by section 43 of this Act;
and
(d)
all liabilities of the National Institute of Fisheries and Nautical Engineering existing on the day immediately preceding the date specified in the
Order made under subsection (1), shall be deemed to be the liabilities of the University.