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Transfer of assets and liabilities.
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32.—(1) The following shall be and hereby are transferred to OSI on the establishment day—
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(a) all property and rights relating to such property held or enjoyed immediately before that day by the Minister in respect of the Ordnance Survey, and
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(b) all liabilities incurred before that day by the Minister in respect of the Ordnance Survey that had not been discharged before that day,
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and, accordingly, without any further conveyance, transfer or assignment—
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(i) the said property, real and personal, shall, on that day, vest in OSI for all the estate, term or interest as the case may be for which, immediately before that day, it was so vested in the Minister in respect of the Ordnance Survey, but subject to all trusts and equities affecting the property subsisting and capable of being performed,
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(ii) the said rights shall, as on and from that day, be enjoyed by OSI, and
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(iii) the said liabilities shall, as on and from that day, be liabilities of OSI.
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(2) All moneys, stocks, shares and securities transferred to OSI by this section that, on the establishment day, are standing in the name of the Minister in respect of the Ordnance Survey shall, upon the request of OSI, be transferred into its name.
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(3) Every right and liability transferred to OSI by this section may, on or after the establishment day, be sued on, recovered or enforced by or against OSI in its own name and it shall not be necessary for OSI to give notice to the person whose right or liability is transferred by this section of the transfer.
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