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Transfer of property of Congested Districts Board.
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7.—(1) Immediately upon the passing of this Act all lands, tenements and hereditaments situate in Saorstát Eireann which were vested in or held in trust for the Congested Districts Board immediately before the passing of this Act shall, without any conveyance thereof, become and be vested in the Irish Land Commission for all the estate and interest for which the same lands, tenements and hereditaments were respectively held by or for the Congested Districts Board.
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(2) Immediately upon the passing of this Act all property and assets whatsoever (other than lands, tenements and hereditaments) which immediately before the passing of this Act were vested in or belonged to the Congested Districts Board, shall vest in and become the property of the Irish Land Commission.
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(3) All moneys, stocks, shares and securities transferred to the Irish Land Commission by this Act which at the date of the passing of this Act are standing in the books of the Bank of Ireland or of any other corporation or company in the name of the Congested Districts Board shall, upon the request of the Minister for Agriculture, be transferred by such bank, corporation or company in its books into the name of the Irish Land Commission.
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(4) From and after the passing of this Act every bond, obligation, security or other chose-in-action made with or to the Congested Districts Board, the benefit of which is transferred by this Act, may be sued upon by the Irish Land Commission in its own name and it shall not be necessary for the Irish Land Commission to give notice to the person bound by such bond, obligation, security or chose-in-action of the transfer effected by this Act.
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