Pigs and Bacon (Amendment) Act, 1939
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Transfer of property of abolished boards. |
26.—(1) All property, whether real or personal (including choses-in-action) which immediately before the transfer date was vested in or belonged to or was held in trust for an abolished board and all rights, powers, and privileges relating to or connected with such property shall, on the transfer date 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 or the property of or held in trust for (as the case may require) the Commission for all the estate, term, or interest for which the same immediately before the transfer date was vested in or belonged to or was held in trust for such abolished board. | |
(2) All property transferred by this section, which immediately before the transfer date, was standing in the books of any bank or is registered in the books of any bank, corporation, or company shall, upon the request of the Commission made on or at any time after the transfer date, be transferred in such books by such bank, corporation or company into the name of the Commission. | ||
(3) On and after the transfer date, every chose-in-action transferred by this section to the Commission may be sued upon, recovered, or enforced by the Commission in its own name, and it shall not be necessary for the Commission to give notice to the person bound by such chose-in-action of the transfer effected by this section. | ||
(4) The following provisions shall apply in relation to any money or investments transferred to the Commission by this section, that is to say:— | ||
(a) in case such money or investments represents moneys received by the Pigs Marketing Board under section 70 of the Act of 1937, such moneys or investments shall be paid into or form part of the Stabilisation Fund; | ||
(b) in any other case such moneys or investments shall be paid into or form part of the General Fund. | ||
(5) The following provisions shall apply in relation to any chose-in-action transferred to the Commission by this section, that is to say:— | ||
(a) in case such chose-in-action represents money due to the Pigs Marketing Board under section 70 of the Act of 1937, any money received by the Commission in respect of such chose-in-action shall be paid into the Stabilisation Fund; | ||
(b) in any other case, any money received by the Commission in respect of such chose-in-action shall be paid into the General Fund. |