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Transfer of rights and liabilities, and continuation of leases, licences and permissions by Board.
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12.— (1) Subject to subsection (4), all rights and liabilities of the Board arising by virtue of any contract or commitment (expressed or implied) entered into by it before the transfer day shall on that day stand transferred to the relevant subsidiary.
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(2) Every right and liability transferred by subsection (1) to the relevant subsidiary may, on and after the transfer day, be sued on, recovered or enforced by or against the relevant subsidiary in its own name, and it shall not be necessary for the relevant subsidiary, or the Board, to give notice to the person whose right or liability is so transferred by such transfer.
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(3) Every lease, licence, wayleave or permission granted by the Board in relation to land or other property vested in the relevant subsidiary by or under this Act, and in force immediately before the transfer day, shall continue in force as if granted by the relevant subsidiary.
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(4) Subsection (1) shall not apply to the rights and liabilities of the Board arising by virtue of any contract or commitment referred to in that subsection where the contract or commitment, as the case may be, is between the Board and a member of the staff of the Board in the member’s capacity as such (and whether or not the member only acquired that capacity upon the entering into of the contract or commitment, as the case may be).
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