4.—(1) All property, rights and liabilities—N.I.
(a)to which the Tourist Board is entitled or subject immediately before the appointed day; and
(b)which were held, acquired or incurred for or in connection with the exercise of the functions mentioned in section 3(4)(a) (in this paragraph and paragraph 5 referred to as “the relevant functions”),
shall on that day be transferred to, and by virtue of this sub-paragraph vest in, INI.
(2) Sub-paragraph (1)—
(a)has effect in relation to property, rights or liabilities to which it applies in spite of any provision (of whatever nature) which would prevent or restrict the transfer of the property, rights or liabilities otherwise than by that sub-paragraph; but
(b)does not apply to rights and liabilities under a contract of employment (which are dealt with by paragraph 5).
(3) In the construction and for the purposes of any statutory provision or other document passed or made before the appointed day, any reference to, or which is to be construed as a reference to, the Tourist Board shall, so far as may be necessary for the purposes of the relevant functions, be construed as a reference to INI.
(4) Nothing in this Act affects the validity of anything done by, or in relation to, the Tourist Board before the appointed day.
(5) Anything which before the appointed day was done by or in relation to the Tourist Board for the purposes of or in connection with the relevant functions shall, if in effect immediately before that day, continue to have effect to the same extent as if it had been done by, or in relation to, INI.
(6) Anything (including any legal proceedings) in the process of being done by or in relation to the Tourist Board immediately before the appointed day may, so far as it relates to the relevant functions, be continued by or in relation to INI.
(7) A certificate issued by the Department that any property, rights or liabilities have been transferred to INI by sub-paragraph (1) shall be conclusive evidence of the transfer.