(1) Subject to section 82, assets, rights and liabilities of the NCDC existing immediately before the repeal of the NCDC Act vest in a body or bodies specified in writing by the Minister.
(2) In specifying a body for the purposes of subsection ( 1), the Minister shall have regard to which body or bodies will perform the relevant functions of the NCDC after the repeal of the NCDC Act.
(3) In this section:
"body" includes the Commonwealth.