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Transfer of property to vocational education committees.
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96.—(1) Upon the appointed day, all property, whether real or personal (including choses-in-action) which, immediately before the appointed day, is vested in a local authority or a committee appointed under the Act of 1889 and the Act of 1899 or either of those Acts by a local authority or two or more local authorities jointly and is so vested in relation to or for the purposes of functions, powers, and duties transferred by this Part of this Act or upon or under a trust relating to technical instruction shall, on the appointed day and without any conveyance or assignment but subject where necessary to transfer in the books of any bank, corporation, or company, become and be vested in the vocational education committee to which such functions, powers, and duties are so transferred.
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(2) Where any property transferred by this section consists of moneys, stocks, shares, or securities standing in the books of a bank, corporation, or company, such moneys, stocks, shares, and securities shall, upon the request of the vocational education committee to which the same are transferred by this section, be transferred by such bank, corporation, or company into the name of such committee.
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(3) Every chose-in-action transferred by this section may be sued upon, recovered, or enforced by the vocational education committee to which such chose-in-action is so transferred in its own name and it shall not be necessary for such committee to give notice to the person bound by such chose-in-action of the transfer effected by this section.
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(4) All moneys raised by a rate struck by a local authority for the service of the year beginning on the 1st day of April, 1930, and which but for this Act would have been paid to a committee appointed or partly appointed by such local authority to exercise and perform functions, powers and duties transferred by this Part of this Act to a vocational education committee and would have been applicable by such first-mentioned committee to the purposes of such functions, powers and duties, shall (so far as such moneys are not paid to such committee before the appointed day) be paid by such local authority to the said vocational education committee.
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