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Transfer of rights and liabilities of Board.
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7.— (1) All rights and liabilities of the Board arising by virtue of any contract or commitment (express or implied) entered into by the Board before the commencement of this Part shall, on that commencement, stand transferred to the Executive.
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(2) Every right and liability transferred by subsection (1) to the Executive may, on and after the transfer, be sued on, recovered or enforced by or against the Executive in its name and it shall not be necessary for the Executive to give notice to a person whose right or liability is transferred by that subsection of that transfer.
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