94.— (1) All rights and liabilities of the Council arising by virtue of any contract or commitment (expressed or implied) entered into by the Council before the commencement of this section shall, on that commencement, stand transferred to the Board.

(2) Every right and liability transferred by subsection (1) may, on or after that transfer, be sued on, recovered or enforced by or against the Board in its name.

(3) It shall not be necessary for the Board to give notice to any person whose right or liability is transferred by subsection (1) of that transfer.