11.—(1) All property whether real or personal (including choses-in-action) which was vested in, or belonged to or was held in trust for Fógra Fáilte and all rights, powers and privileges relating to or connected with any such property shall, without any conveyance or assignment but subject where necessary to transfer in the books of any bank, corporation or company or authority, become and be vested in or the property of or held in trust for (as the case may require) the Board for the same estate, trust or interest.

(2) All property transferred by this section which is standing in the books of any bank or registered in the books of any bank, corporation, company or authority shall, upon the request of the Board, be transferred in such books by such bank, corporation, company or authority into the name of the Board.

(3) Every chose-in-action transferred by this section to the Board may be sued upon, recovered or enforced by the Board in its own name and it shall not be necessary for the Board to give notice to the person bound by such chose-in-action of the transfer effected by this section.