37. (1) On the establishment day, all lands that, immediately before that day, were vested in either of the dissolved bodies and all rights, powers and privileges relating to or connected with such lands shall, without any conveyance or assignment, stand vested in the Forum for all the estate or interest therein that, immediately before the establishment day, was vested in the dissolved bodies, but subject to all trusts and equities affecting the lands concerned continuing to subsist and being capable of being performed.

(2) On the establishment day, all property (other than land), including choses-in-action, that, immediately before that day, was vested in either of the dissolved bodies shall stand vested in the Forum without any assignment.

(3) Every chose-in-action vested in either of the dissolved bodies by virtue of subsection (2) may, on and from the establishment day, be sued on, recovered or enforced by the Forum in its own name and it shall not be necessary for the Forum, or either of those dissolved bodies, as the case may be, to give notice to any person bound by any such chose-in-action of the vesting by that subsection.