The functions of the General Services Administration created by Reorganization Plan No. 2 (Substitute) of 1971, App. I of this title, except as otherwise provided in other provisions of this chapter, are hereby vested on the Administration and for such purposes, the Administration shall be in charge of:
(a) Every property or any interest therein; records, files and documents; appropriations, funds and resources that are or may be available, including surplus, shares, assets and increments, of any kind; obligations and contracts executed pursuant to law, which shall remain in full force and effect; fees, exemptions and privileges of any kind; licenses, permits and other authorizations, as well as all the liabilities of the Operating Fund, created by Act No. 96 of June 29, 1954, as amended, and of the Industrial Capital Fund created by Act No. 49, Aug. 4, 1947, as amended; and all such matters as, at the time this act takes effect, may be under the authority of the General Services Administration created by Substitute Reorganization Plan No. 2 of 1971.
(b) The personnel, who at the effective date of this act are rendering services to the General Services Administration, shall retain all the vested rights on said date, as well as the rights, privileges, obligations, and status with respect to any pension, retirement or savings and loans fund system or systems to which they may be affiliated.
(c) The regulations governing the operation of the functions and programs of the General Services Administration created by Reorganization Plan No. 2, existing at the time this act takes effect, and which may be compatible with the same, shall prevail until they may be substituted, amended or repealed by the Administrator.
History —July 23, 1974, No. 164, Part 1, p. 752, § 29.