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Transfer of property to the Commissioners of Public Works in Ireland.
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2. All property of every description, including all interests and rights in, to, and out of property, and including obligations and things in action, which may form part of the Sea and Coast Fisheries Fund, or may be vested in or under the control of the Trustees to aid Sea and Coast Fisheries of Ireland, or any of them as such trustees, or in or under the control of any other person whatsoever, as part or on account of the said fund, shall from and after the passing of this Act pass to and vest in the Commissioners of Public Works in Ireland (in this Act referred to as the Commissioners), subject to all debts and liabilities affecting the same, and immediately after the passing of this Act the said trustees shall transfer to the Commissioners all books, securities, papers, documents, and other property of every description held or possessed by them.
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The Commissioners may enforce in their own name, or in the name of their secretary for the time being, or any such other person as they may direct, any remedies for the recovery of any portion of the said fund which if this Act had not passed might have been enforced by the said trustees, or any of them, or any person on their behalf, and any sums of money due to the trustees at the time of the passing of this Act shall be considered as due to the Commissioners, and may be sued for and recovered by the Commissioners in the same manner as if such moneys had been lent by them and not by the trustees.
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All moneys, stocks, and securities standing in the books of the Bank of Ireland in the name of the said trustees or any of them or any other person on account of the said fund shall be entered in or transferred to the name of the Commissioners, and the Bank of Ireland are hereby authorised and required to make such entry or transfer.
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