Paragraph 1

The property held immediately before the appointed day by the Lord President of the Council for the purposes of his activities under subsection (1) of section two of the M1Atomic Energy Act 1946 and subsection (1) of section one of the M2Radioactive Substances Act 1948 and the rights and liabilities enjoyed by him or incumbent on him immediately before the appointed day in connection with those activities are hereby transferred as from the appointed day to the Authority: