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(1)The following enactments (which make provision in connection with the management of the Commonwealth Institute) cease to have effect—
(a)the Imperial Institute Act 1925, and
(b)the Commonwealth Institute Act 1958.
(2)The money constituting the capital of the Endowment Fund shall by virtue of this subsection be transferred to and become vested in the company limited by guarantee known as the Commonwealth Institute free from any restrictions as to the purposes for which it must be held.
(3)In subsection (2), “Endowment Fund” means the fund referred to by that name in the Imperial Institute Act 1925.
(4)Schedule 1, which makes amendments consequential on subsection (1), has effect.
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