39. (1) All rights and liabilities of the dissolved body by virtue of any contract or commitment (expressed or implied) entered into by the dissolved body, and all obligations imposed on the dissolved body by virtue of an order of a court or tribunal, before the dissolution day shall on that day stand transferred to the Agency.

(2) Every right and liability transferred by subsection (1) to the Agency may, on and after the dissolution day, be sued on, recovered or enforced by or against it in its name, and it shall not be necessary for the Agency or the dissolved body to give notice to any person of the transfer of any such right or liability.

(3) Every lease, licence, wayleave or permission granted by the dissolved body in relation to land or other property vested in the Agency and in force immediately before the dissolution day shall continue in force on and after that day as if granted by the Agency.