Social Welfare Act, 1950
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Transfer of other property of the Society. |
10.—(1) Excepting the stocks, shares and securities specified in section 9 of this Act, all property, whether real or personal (including choses-in-action), which immediately before the transfer day, was vested in the Society in its own name or vested in the trustees of the Society shall, on the transfer day and without any conveyance or assignment, but subject where necessary to transfer in the books of any bank, become vested in the Minister to be held by him on behalf of the Fund. | |
(2) Moneys vested in the Minister by this section which, on the transfer day, are standing in the books of any bank in the name of the Society or in the name of the trustees of the Society shall, upon the request of the Minister, be transferred in such books into the name of the Minister. | ||
(3) Every chose-in-action vested in the Minister by this section may be sued upon, recovered or enforced by the Minister in his own name, and it shall not be necessary for him to give notice to the person bound by such chose-in-action of the vesting effected by this section. | ||
(4) The Minister may dispose of any property which is vested in him by this section and any moneys which he receives in respect of any such disposal shall be paid into the Fund. |