100.— (1) With effect from the transfer day, the following are transferred to the Health Service Executive:

(a) all property (real and personal) and rights held or enjoyed immediately before that day by the Postgraduate Medical and Dental Board;

(b) all liabilities incurred before that day by that Board that had not been discharged before that day.

(2) Without any further conveyance, transfer or assignment—

(a) property which falls within subsection (1) vests, on the transfer day, in the Health Service Executive for all the estate, term or interest for which, immediately before that day, it was vested in the Postgraduate Medical and Dental Board, but subject to all trusts and equities affecting the property and capable of being performed,

(b) rights which fall within subsection (1) are, on and after the transfer day, rights of the Health Service Executive, and

(c) liabilities which fall within subsection (1) are, on and after the transfer day, liabilities of the Health Service Executive.

(3) All monies, stocks, shares and securities transferred to the Health Service Executive by this section that, immediately before the transfer day, are in the name of the Postgraduate Medical and Dental Board, shall, at the request of the Executive, be transferred into its name.

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