9(1)All property (including rights) and liabilities, subsisting immediately before the coming into force of this paragraph, of—S
(a)the Scottish Higher Education Funding Council; and
(b)the Scottish Further Education Funding Council,
are transferred to, and vest in, the Council.
(2)Sub-paragraph (1) has effect in relation to property and liabilities to which it applies despite any provision (of whatever nature) which would otherwise prevent, penalise or restrict the transfer of the property or liabilities.