10. (1) The city council and the county council may, before the transfer day, make an agreement providing for the continued vesting, for such period commencing on the transfer day as may be specified in the agreement, in the county council of any land situated in the relevant area that, upon the making of the agreement, vested in the county council.

(2) On the day immediately following the expiration of the period referred to in subsection (1)—

(a) all lands to which an agreement under that subsection applies and all rights, powers and privileges relating to or connected with such lands shall, without any conveyance or assignment, stand vested in the city council for all the estate or interest therein that, immediately before that day, was vested in the county council, but subject to all trusts and equities affecting the lands continuing to subsist and being capable of being performed,

(b) all choses-in-action relating to land vested in the city council under paragraph (a), that immediately before that day, were vested in the county council shall stand vested in the city council without any assignment.

(3) Every chose-in-action vested in the city council by virtue of paragraph (b) of subsection (2) may, on and after the day referred to in that subsection, be sued on, recovered or enforced by the city council in its own name, and it shall not be necessary for the city council or the county council to give notice to any person bound by the chose-in-action of the vesting effected by that paragraph.

(4) All functions of the county council connected with any land standing vested in the city council under paragraph (a) of subsection (2) shall, from the day referred to in that subsection and in relation to such land, be performable by or on behalf of the city council only.

(5) An agreement under this section may contain such incidental, supplementary and consequential provisions as the city council and the county council reasonably consider necessary for the purposes of the agreement.