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Transfer of property held for the purposes of the undertaking.
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35.—(1) On the appointed day all property, whether real or personal (including choses-in-action), which immediately before the appointed day is vested in or belongs to the Minister for the purposes of the undertaking shall, without any conveyance or assignment, but subject where necessary to transfer in the books of any bank, corporation or company, become and be vested in or become and be the property of the Company for all the estate, term or interest for which the same immediately before the appointed day was vested in or belonged to the Minister.
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(2) All property transferred by this section which immediately before the appointed day is standing in the books of any bank or is registered in the books of any bank, corporation or company in the name of the Minister shall, upon the request of the Company made on or at any time after the appointed day, be transferred in such books by such bank, corporation or company into the name of the Company.
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(3) On and after the appointed day every chose-in-action transferred by this section from the Minister to the Company may be sued upon, recovered or enforced by the Company in its own name, and it shall not be necessary for the Company to give notice to the person bound by such chose-in-action of the transfer effected by this section.
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