law: The Pension Fund Regulatory and Development Authority Act, 2013
  Chapter IV Transfer
  
  of Assets, Liabilities, Etc., of Interim Pension Fund Regulatory and
  
  Development Authority
  13.
  
     Transfer
  
  of assets, liabilities, etc., of Interim Pension Fund Regulatory and
  
  Development Authority.
  On and from the date
  
  of establishment of the Pension Fund Regulatory and Development Authority,-
  a.  
  
    all
  
  the assets and liabilities of the Interim Pension Fund Regulatory and
  
  Development Authority shall stand transferred to, and vested in, the Authority.
  
  
  Explanation.- The
  
  assets of the Interim Pension Fund Regulatory and Development Authority shall
  
  be deemed to include all rights and powers, all properties whether movable or
  
  immovable, including, in particular, cash balances, deposits and all other
  
  interests and rights in, or arising out of, such properties as may be in the
  
  possession of the Interim Pension Fund Regulatory and Development Authority and
  
  all books of account and other documents relating to the same; and liabilities
  
  shall be deemed to include all debts, liabilities and obligations of whatever
  
  kind;
  a.  
  
  
  b.  
  
    without
  
  prejudice to the provisions of clause (a), all debts, obligations and
  
  liabilities incurred, all contracts entered into and all matters and things
  
  engaged to be done by, with or for the Interim Pension Fund Regulatory and
  
  Development Authority immediately before that day, for or in connection with
  
  the purpose of the said Regulatory Authority, shall be deemed to have been
  
  incurred, entered into or engaged to be done by, with or for, the Authority;
  c.  
  
    all
  
  sums of money due to the Interim Pension Fund Regulatory and Development
  
  Authority immediately before that day shall be deemed to be due to the
  
  Authority; and
  d.  
  
    all
  
  suits and other legal proceedings instituted or which could have been
  
  instituted by or against the Interim Pension Fund Regulatory and Development
  
  Authority immediately before that day may be continued or may be instituted by
  
  or against the Authority.