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PART VI
Consequential and Transitional
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Transfer of property.
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53.—(1) On the commencement of this section, the following properties (including all rights, powers and privileges relating to or connected with any such property) shall, subject to sections 54 and 55, be transferred to the Authority:
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(a) any property real or personal (including choses-in-action) which, immediately before the commencement of this section, was vested in or belonged to or was held in trust for the Institute or a committee of agriculture;
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(b) the properties of the Minister commonly known as—
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(i) Mellowes Agricultural College, Athenry, County Galway,
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(ii) Clonakilty Agricultural College, Clonakilty, County Cork,
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(iii) Ballyhaise Agricultural College, Ballyhaise, County Cavan, and
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(iv) Kildalton Agricultural and Horticultural College, Kildalton, Piltown, County Kilkenny,
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and which are described in the Third Schedule, including the lands, buildings, offices, out-offices, crops, livestock, farm machinery, farm and office equipment and other movable property on those properties immediately before the commencement of this section, and
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(c) the interest of the Minister in the lands and property known as the Cereal Station, Ballinacurra, Midleton, County Cork, and which are described in the Third Schedule including the interest of the Minister in the lands, buildings, offices, out-offices, office equipment, crops, livestock, farm machinery and equipment and other movable property thereon immediately before the commencement of this section.
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(2) The properties referred to in this section shall be transferred without any conveyance or assignment but subject, where necessary, to transfer in the books of any bank, corporation or company and shall become the property of, or be held in trust for and be vested in (as the case may require) the Authority for all the estate, term or interest by which they were held immediately before the commencement of this section but subject to all trusts, equities and statutory requirements affecting the properties and then subsisting and capable of being performed.
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(3) Any property transferred by this section which, immediately before the commencement of the section, was standing in the books of any bank, corporation or company, or registered in the books of any bank, corporation or company in the name of the Institute, a committee of agriculture or the Minister shall, upon the request of the Authority made at any time after such commencement, be transferred in those books by that bank, corporation or company into the name of the Authority.
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(4) After the commencement of this section, every chose-in-action transferred in accordance therewith to the Authority may be sued upon, recovered or enforced by the Authority in its own name and it shall not be necessary for the Authority to give notice to the person bound by such chose-in-action of the transfer.
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