# The New Maintained Schools (Wales) Regulations 2005, Regulation 46: Property, rights and liabilities


On the incorporation date—
(a) all land and other property which, immediately before the incorporation date, was vested in the temporary governing body, and
(b) all rights and liabilities of the temporary governing body subsisting immediately before that date,
are, by virtue of this regulation, transferred to and vest in the governing body constituted under the instrument of government.

---
Source: https://www.legislation.gov.uk/wsi/2005/2912/regulation/46 (the official version)
Page: https://openlegislation.uk/new-maintained-schools-wales-regulations-2005/regulation-46
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.