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Transfer of rights and liabilities.
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35.— (1) All rights and liabilities of the dissolved body arising by virtue of any contract or commitment (expressed or implied) entered into by it before the commencement of this Part shall on that commencement stand transferred to the Board.
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(2) Every right and liability transferred by subsection (1) to the Board may, on and after the commencement of this Part, be sued on, recovered or enforced by or against the Board in its own name, and it shall not be necessary for the Board to give notice to the person whose right or liability is transferred by that subsection of such transfer.
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