34.— (1) On the commencement of this Part, all property (other than land), including choses-in-action, that immediately before that commencement, was vested in the dissolved body shall stand vested in the Board without any assignment.

(2) Every chose-in-action vested in the Board under subsection (1) may on and from the commencement of this Part be sued on, recovered or enforced by the Board in its own name, and it shall not be necessary for the Board to give notice to any person bound by the chose-in-action of the vesting effected by that subsection.