Paragraph 1 Transfer of assets and liabilities

On the coming into operation of this order the property, rights, obligations and liabilities of the Board shall, by virtue of this order and without further assurance, be transferred to the Minister.

Without prejudice to the generality of the foregoing, where an applicant has served notice on the Board under subsection (6) of section 49 of the Act requiring the Board to purchase an estate or interest in respect of which consent to its transfer has been previously refused by the Board under that section, subsections (7) and (8) thereof shall have effect as if for each reference therein to the Board there were substituted a reference to the Minister.