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5Any property, rights and liabilities (other than rights and liabilities under a contract of employment) which are vested in or incumbent on any of the replaced statutory bodies immediately before the day on which the replaced statutory bodies are dissolved and are not transferred on that day by virtue of an order under paragraph 2(1)(b) above shall by virtue of this sub-paragraph be transferred to, and vest in or become incumbent on, the Central Council on that day.
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