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Article 5 Transfer of undertaking

Original text. Later amendments are not shown.

As from the day on which this Order comes into operation the undertaking is transferred to the Company including—

(a)

all that property vested in the statutory company which immediately before the commencement of this Order was held by them for the purposes of the undertaking;

(b)

all rights, liabilities and obligations of the statutory company subsisting immediately before the commencement of this Order for the purpose of the undertaking and arising other than under any local enactment relating to the statutory company.