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(1)All property, rights, interests and liabilities of the transferor are transferred to and vest in the transferee.
(2)Any legal proceedings, applications to any authority or other proceedings for the resolution of a dispute by or against the transferor which are pending or current immediately before this Act comes into force may be continued by or against the transferee.
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Text created by the Scottish Government to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills.
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