The Industrial Property Act, 2001 59 from the commencement of this Act. 7.All the funds, assets and other property, movable and immovable, which immediately before the coming into operation of this Act, were held by the Government on behalf of the former Office shall, by virtue of this paragraph and without further assurance, vest in the Institute. 8.Every public officer having the power or duty to effect or amend any entry in a register relating to property, or to issue or amend any certificate or oth er document effecting or evidencing title to property, shall, without payment of any fees or other charge and upon request by or on behalf of the Institute, do all such things as are by law necessary to give final effect to the transfer of any property mentioned in paragraph 7 to the Institute. 9.All rights, powers, liabilities and duties, whether arising under any written law or otherwise, which immediately before the coming into operation of this Act were vested in, imposed on or enforceable by or against the Government in respect of the former Office shall by virtue of this paragraph, be transferred to, vested in, imposed on, or be enforceable by or against the Institute. 10. On and after the coming into operation of this Act, all actions, suits or legal proceedings by or against the Government pending in respect of the former Office shall be carried on or prosecuted by or against the Institute and no such suit, action or legal proceedings shall abate or be affected by the coming into operation of this Act. 11.The annual estimates approved for the former Office in respect of the financial year in which this Act comes into operation shall be deemed to be annual estimates of the Institute for the remainder of the financial year but those estimates may be varied by the Board in such manner as the Minister and the Treasury may approve. 12. Any person who is an officer or employee of the former Office immediately before coming into operation of this Act shall be deemed to be an officer or employee of the Institute. Provided that: (a) any officer or employee of the former Office who does not wish to become an officer or employee of the Institute shall exercise his option within a period of twelve months from the date of coming into operation of this Act; (b) subject to paragraph (a), every officer or employee of the Institute shall enter into a written contract of service with the Institute within a period of eighteen months from the date of coming into operation of this Act whereupon his service with the Government shall be deemed to have terminated without right to severance pay but without prejudice to all other remuneration and benefits payable upon the termination of his employment with the Government: