Transfer of assets and liabilities and continuity
10.—(1) All assets to which the existing arc21 is entitled and liabilities to which it is subject on 1st April 2015 are hereby transferred to and shall vest in arc21 on 1st April 2015 including liabilities of existing arc21 in relation to the Local Government Pension Scheme (Northern Ireland) which are not otherwise transferred to arc21 under an apportionment agreement made under regulation 71(1) of the Local Government Pension Scheme Regulations (Northern Ireland) 2014(1).
(2) All assets to which SWaMP2008 is entitled and liabilities to which it is subject on 31st March 2015 are hereby transferred to and shall vest in the council for the district of Armagh, Banbridge and Craigavon.
(3) Any legal proceedings which, but for this order, could have been commenced or continued by or in relation to the existing arc21 or SWaMP2008 may be commenced or continued by or in relation to arc21 or the council for the district of Armagh, Banbridge and Craigavon as the case may be.
(4) Every contract, agreement, licence and authority, whether written or not, and every deed, bond, instrument and document made before 1st April 2015 and still in effect at that time which relates to assets or liabilities of the existing arc21 and SWaMP2008 shall continue in effect but subject to the following modifications so far as they are applicable—
(a)if the existing arc21 or SWaMP2008 is a party thereto arc21 or the council for the district of Armagh, Banbridge and Craigavon (as the case may be) shall be substituted as that party;
(b)for a reference (however worded and whether express or implied) to the existing arc21 or SWaMP2008 there shall, as respects anything falling to be done or occurring after that time, be substituted a reference to arc21 or the council for the district of Armagh, Banbridge and Craigavon (as the case may be);
(c)for a reference (however worded and whether express or implied) to the members or any member or to any officer or officers of the existing arc21 or SWaMP2008 there shall be substituted, as respects anything done after 31st March 2015, a reference to such members or officers as arc21 or the council for the district of Armagh, Banbridge and Craigavon (as the case may be) shall appoint for the purpose; and
(d)for a reference to the office or place of business of the existing arc21 or SWaMP2008 there shall be substituted the office of arc21 or the council for the district of Armagh, Banbridge and Craigavon (as the case may be).