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19 2006

National Sports Campus Development Authority Act 2006

PART 3

Transitional Provisions

Dissolution of Campus and Stadium Ireland Development Limited.

32 .— The Company is dissolved with effect from the establishment day.

Transfer of employees.

33 .— The Authority shall accept into its employment on the establishment day, in accordance with the terms of this Act, every person who immediately before that day was an employee of the Company on terms and conditions not less favourable than those applicable to that person immediately before that day.

Transfer of land and other property.

34 .— (1) On the establishment day, all land which, immediately before that day, was vested in the Company and all rights, powers and privileges relating to or connected with that land shall, without any conveyance, transfer or assignment, stand vested in the Authority for all the estate or interest for which it was vested in the Company but subject to all trusts and equities affecting that land subsisting and capable of being performed.

(2) On the establishment day, all property other than land (including choses-in-action), which, immediately before that day, was the property of the Company shall, without any transfer or assignment, stand transferred to the Authority.

(3) Every chose-in-action transferred by subsection (2) may, on and after the establishment day, be sued upon, recovered or enforced by the Authority in its own name and it shall not be necessary for the Authority to give notice to the person bound by any such chose-in-action of the transfer effected by this section.

(4) All moneys, stocks, shares and securities transferred to the Authority by subsection (2) which, immediately before the establishment day, are in the name of the Company shall, upon the request of the Authority, be transferred into its name.

Transfer of rights and liabilities.

35 .— (1) All rights and liabilities of the Company arising by virtue of any contract or commitment (express or implied) entered into by it before the establishment day shall, on that day, stand transferred to the Authority.

(2) Every right and liability transferred by subsection (1) to the Authority may, on and after the establishment day, be sued on, recovered or enforced by or against the Authority in its own name and it shall not be necessary for the Authority to give to a person whose right or liability is transferred by this section notice of such transfer.

Preservation of existing contracts.

36 .— (1) Every bond, guarantee or other security of a continuing nature made or given by the Company to any person, or by any person to the Company, that is in force immediately before the establishment day, and every contract or agreement in writing made between the Company and any other person that is in force but is not fully executed and completed immediately before the establishment day, shall continue in force on and after that day and shall be construed and have effect as if the name of the Authority were substituted therein for that of the Company.

(2) Every other document granted or made by the Company that is in force immediately before the establishment day shall continue in force on and after that day as if it had been granted or made by the Authority and shall be construed and have effect accordingly.

Pending legal proceedings to which Company is party.

37 .— The name of the Authority shall be substituted for that of the Company in any legal proceedings pending immediately before the establishment day to which the Company is a party, and those proceedings shall not abate by reason of such substitution.

Exemption from stamp duty.

38 .— Stamp duty shall not be chargeable on any instrument under which any land or interest in or right over any land is conveyed to or vested in the Authority under this Act.

Validation of power to hold and transfer shares in Company.

39 .— The Taoiseach, the Minister for Finance and the Minister shall have, and be deemed always to have had, power to hold and transfer shares in the Company and the establishment of the Company shall be, and be deemed always to have been, as valid and effectual as if they had that power at the time of its establishment.