18.—(1) All land which, immediately before the establishment date, stood vested in a vocational education committee or the Minister for the purposes of a college or for the purposes of an educational institution or part of such an institution to which an order made under section 3 (3) of this Act relates shall stand vested in the college without any conveyance or assignment and no such property or part thereof or estate or interest therein or right thereover shall be disposed of except with the approval of the Minister F56[…].

(2) On the establishment date, the following shall be and hereby are transferred to the college—

(a) all property (other than land) and rights held or enjoyed immediately before the establishment date by the vocational education committee for or in connection with the functions of the college, or of an educational institution or part of such an institution to which an order made under section 3 (3) of this Act relates,

(b) all liabilities incurred before the establishment date by the vocational education committee for the purposes of or in connection with the college or any such educational institution or part thereof that had not been discharged before the establishment date,

and, accordingly, without any further transfer or assignment—

(i) the said property shall, on the establishment date, vest in the college but subject to all trusts and equities affecting the property and capable of being performed,

(ii) the said rights, shall, on and from the establishment date, be enjoyed by the college,

(iii) the said liabilities shall, on and from the establishment date, be the liabilities of the college.

(3) A college may recover from the vocational education committee such moneys as may be approved by the Minister in respect of liabilities arising under subsection (2) and the vocational education committee shall cause these moneys to be paid to the governing body of the college immediately upon the direction of the Minister.

(4) All moneys, stocks, shares and securities transferred to a college by this section that, immediately before the establishment date are standing in the name of the vocational education committee, shall, upon the request of the governing body of that college, be transferred into its name.

(5) Every right and liability transferred by this section to a college may, on or after the establishment date, be sued on, recovered or enforced by or against the college in its own name and it shall not be necessary for the college to give notice to any person whose right or liability is transferred by this section of the transfer.

(6) In subsections (1) and (2) a reference to a college, in relation to a time before the establishment date, shall be construed as a reference to every institution or part of an institution which from such date comprised or became part of the college.

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(8) Whenever a question arises as to whether land stood vested for the purposes of a college or of an institution or part of an institution to which an order made under section 3 (3) of this Act relates or whenever a question arises with regard to rights and liabilities transferred by this section such question shall be referred by the vocational education committee to the Minister and the decision of the Minister thereon shall be final.