Transfer of assets and liabilities
4.—(1) All property, rights and liabilities to which the Board is entitled or subject immediately before the transfer date shall on that date transfer to, and by virtue of this Article vest in, the Secretary of State.
(2) This Article does not apply to rights and liabilities under a contract of employment (which are dealt with in Article 5).
(3) A certificate by the Secretary of State that any property, right or liability has vested in the Secretary of State under this Article shall be conclusive evidence of that fact for all purposes.