Transport (Re-Organisation of Córas Iompair Éireann) Act, 1986

Transfer of rights and liabilities.

18.—(1) All rights and liabilities of the Board arising by virtue of any contract or commitment (expressed or implied) entered into by it before the vesting day in relation to functions assigned to a company under this Act shall on that day stand transferred to that company.

(2) The Board may on its own initiative and shall on the application of a company issue a certificate in respect of a specified contract or commitment certifying, as it thinks proper, that the rights and liabilities of the Board thereunder were not so transferred on the vesting day to a particular company under this section or were not so transferred to any of the companies and the certificate shall be conclusive evidence of the facts so certified.

(3) Every right and liability transferred by subsection (1) to a company may, on and after the vesting day, be sued on, recovered or enforced by or against the company in its own name and it shall not be necessary for the company or the Board to give notice to the person whose right or liability is transferred by this section of such transfer.

(4) Every licence, right or privilege granted to or enjoyed by the Board shall be exercisable by a company in so far as it relates to a function conferred on the company by this Act.