OpenLegislation

Paragraph 1

Original text. Later amendments are not shown.

(1)

All assets and liabilities to which the Corporation is entitled or subject immediately before 1st April 2007 shall be transferred to, and by virtue of this sub-paragraph vest in, the Department.

(2)

Sub-paragraph (1)—

(a)

has effect in relation to assets and liabilities to which it applies in spite of any provision (of whatever nature) which would prevent or restrict the transfer of the assets and liabilities otherwise than by that sub-paragraph; but

(b)

does not apply in relation to contracts of employment.

(3)

A certificate issued by the Department that any assets or liabilities have been transferred to the Department by sub-paragraph (1) shall be conclusive evidence of the transfer.