(1) The SRC Act continues to apply on and after the sale day in relation to:
(a) injuries suffered by employees of SMEC before the sale day; and
(b) loss of, or damage to, property incurred by employees of SMEC before the sale day;
including employees who had stopped being employees of SMEC before the sale day.
(2) For the purposes of subsection ( 1), the SRC Act continues to apply as if:
(a) SMEC continues to be a Commonwealth authority; and
(b) the chief executive officer of SMEC (however described) continues to be the principal officer of a Commonwealth authority.