Sea Fisheries Act, 1952

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Transfer of property of the dissolved body to the Board.

26.—(1) Subject to the provisions of this section all property whether real or personal (including choses-in-action) which immediately before the commencement of this Part was vested in, or belonged to or was held in trust for the dissolved body and all rights, powers and privileges relating to or connected with any such property shall, on such commencement and without any conveyance or assignment but subject where necessary to transfer in the books of any bank, corporation or company or authority, become and be vested in or the property of or held in trust for (as the case may require) the Board for all the estate, trust or interest for which the same immediately before such commencement was vested in or belonged to or was held in trust for the dissolved body.

(2) All property transferred by this section which, immediately before the commencement of this Part was standing in the books of any bank or was registered in the books of any bank, corporation, company or authority shall, upon the request of the Board made on or after such commencement be transferred in such books by such bank, corporation, company or authority into the name of the Board.

(3) On and after the commencement of this Part every chose-in-action transferred by this section to the Board may be sued upon, recovered or enforced by the Board in their own name and it shall not be necessary for the Board to give notice to the person bound by such chose-in-action of the transfer effected by this section.