Certain powers of the Government

(1) The Government shall be entitled to receive up to the specified date, to the exclusion of all other persons any money due to the College, realised after the appointed day, notwithstanding that the realisation pertains to a period prior to the appointed day. (2) Save as otherwise provided in this Act, the liabilities in relation to the College in respect of any period prior to the appointed day shall be the liabilities of the Government.