(1) On the appointed day the undertaking of Town & Country is by virtue of this Act divested from Town & Country and vested in ANZ.

(2) If any portion of the undertaking of Town & Country cannot be vested in ANZ by virtue of this Act because transfer of that portion is governed otherwise than by the law of the State, then Town & Country shall as soon as is practicable after the appointed day take all necessary steps for the purpose of securing that the portion is effectively transferred to ANZ.