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Transfer of assets and liabilitiesN.I.

6.—(1) All property, rights and liabilities held, enjoyed or incurred immediately before the appointed day by the Department of Commerce are hereby transferred to the Department of Economic Development and accordingly, by virtue of this Order and without any further conveyance, transfer or assignment—

(a)that property, real or personal, shall vest in the Department of Economic Development;

(b)those rights shall be enjoyed by the Department of Economic Development;

(c)those liabilities shall become liabilities of the Department of Economic Development.

(2) A certificate by the Department of Economic Development, that any property specified in the certificate, or any such interest in or right over any such property as may be specified, or any right or liability so specified, is by virtue of paragraph (1) for the time being vested in it, shall be conclusive evidence for all purposes of that fact.