30.—(1) With effect from the establishment day the following are hereby transferred to the Board—

(a) all rights and property (and rights relating to such property) held or enjoyed immediately before that day by the former Board,

(b) all liabilities incurred before that day by the former Board which had not been discharged before that day,

and, accordingly, without any further conveyance, transfer or assignment—

(i) the said property, real and personal, shall, on that day, vest in the Board for all the estate, term or interest for which, immediately before that day, it was vested in the former Board, but subject to all trusts and equities affecting the property and capable of being performed,

(ii) those rights shall, as and from that day, be enjoyed by the Board, and

(iii) those liabilities shall, as and from that day, be liabilities of the Board.

(2) All moneys, stocks, shares and securities transferred to the Board by this section that, immediately before the establishment day, are standing in the name of the former Board shall, upon the request of the Board, be transferred into its name.

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

(4) The Board shall not, without the consent of the Minister, dispose of any part of any land or any interest therein transferred to or vested in the Board by virtue of this section.

(5) In this section “the former Board” includes any trustee or agent of the former Board acting on behalf of the former Board.