28. (1) On the establishment day, all such property (other than land), including choses-in-action, as is designated by the Minister, which immediately before that day was vested in the Minister in respect of a function transferred to the Office by or under this Act, shall stand vested in the Office without any assignment.

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