As from the commencement of this Act all the assets, rights, liabilities and obligations of the Central Council of Land Surveyors established by section 2 of the Land Surveyors' Registration Act, 1950 (Act No. 14 of 1950), shall, subject to the provisions of this Act and without the payment of any transfer duty, stamp duty or other fees, become the assets, rights, liabilities and obligations of the council, and any reference in any law or document to the said Central Council of Land Surveyors shall be construed as a reference to the council.