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Transfer of property and liabilities to Authority.
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138.— (1) On the establishment day all property that, immediately before that day, was the property of An Bord Uchtála is transferred to and vested in the Authority without any conveyance or assignment.
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(2) All rights and liabilities of An Bord Uchtála arising by virtue of any contract, agreement or arrangement—
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(a) entered into by or on behalf of An Bord Uchtála before the establishment day, and
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(b) in effect immediately before that day,
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are on the establishment day transferred to the Authority.
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(3) Each right and liability transferred under this section, on or after its transfer, may be sued on, recovered or enforced by or against the Authority in the Authority’s own name.
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(4) The Authority need not give notice of the transfer to the person whose right or liability is transferred.
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