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Land and other property of Office.
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5.— (1) All land which, immediately before the commencement of this Act, was vested in the Office and all rights, powers and privileges relating to or connected with that land shall, on that commencement and without any conveyance, transfer or assignment, stand vested in the Executive for all the estate or interest for which it was vested in the Office but subject to all trusts and equities affecting that land subsisting and capable of being performed.
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(2) All property other than land (including choses-in-action) which, immediately before the commencement of this Act, was the property of the Office shall, on that commencement and without any transfer or assignment, stand transferred to the Executive.
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(3) Every chose-in-action transferred by subsection (2) may, on and after the commencement of this Act, be sued on, recovered or enforced by the Executive in its name and it shall not be necessary for the Executive to give notice to a person bound by any such chose-in-action of the transfer effected by that subsection.
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(4) Any money, stocks, shares or securities transferred to the Executive by subsection (2) which, immediately before the commencement of this Act, are in the name of the Office shall, on the request of the Executive, be transferred into its name.
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