Clause 25

to which the resigning trustee-manager is a party, in which a reference is made to the resigning trustee-manager or under which the resigning trustee-manager has acquired or incurred any right, obligation or liability or might have acquired or incurred any right, obligation or liability if it had remained the trustee-manager of the registered business trust; and

that is capable of having effect after the appointment of the replacement trustee-manager or the temporary trustee-manager of the registered business trust, as the case may be,shall, from the effective date of appointment of the replacement trustee-manager or temporary trustee-manager under section 18, as the case may be, have effect as if the replacement trustee-manager or temporary trustee-manager, as the case may be, (and not the resigning trustee-manager) were a party to it, were referred to in it or had or might have acquired or incurred the right, obligation or liability under it.