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Transfer of property to Minister or Central Fisheries Board.
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5.—(1) All land and other property which, immediately before the commencement of this Act, stood vested in or reserved to the Commission shall on such commencement, without any conveyance, assignment or transfer—
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(a) as to land and other property (except fishing rights and fisheries) stand vested in the Minister, and
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(b) as to fishing rights and fisheries, stand vested in or reserved to the Central Fisheries Board,
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for all the estate or interest of the Commission subject, so far as not modified by virtue of this Act, to all trusts and equities, covenants, conditions and restrictions affecting the property.
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(2) Any fishing rights and fisheries which but for this Act would on a sale to the Commission under the Land Purchase Acts have been required to be vested in or reserved to the Commission shall be vested in the Central Fisheries Board and any other sporting rights shall be vested in the Minister.
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