48.— (1) All rights and liabilities of An tSeirbhís—

(a) subsisting immediately before a property vesting day, and

(b) arising by virtue of any contract or commitment (expressed or implied)—

(i) relating to any land or property designated by the order under section 47 that appointed that day, or

(ii) for the provision of a service that immediately before that day was provided on land so designated,

shall on that day stand transferred to the education and training board designated by that order.

(2) Every right and liability transferred by subsection (1) to an education and training board may, on and after the property vesting day on which the right or liability stood transferred, be sued on, recovered or enforced by or against the education and training board concerned in its own name, and it shall not be necessary for the education and training board or An tSeirbhís to give notice to the person whose right or liability is transferred by that subsection of its transfer.

(3) Every lease, licence, wayleave or permission granted by An tSeirbhís in relation to land or other property vested in an education and training board by or under this Act, and in force immediately before the property vesting day concerned, shall continue in force as if granted by that education and training board.