4Transfer of ALGT’s undertaking to A&L
(1)On the appointed day the undertaking of ALGT shall, by virtue of this Act and without further assurance, vest in A&L to the intent that A&L shall succeed to that undertaking as if in all respects A&L were the same person in law as ALGT.
(2)Where the transfer of any property or liability forming part of the undertaking of ALGT is governed by the law of any country or territory outside the United Kingdom, ALGT shall, if A&L so requires, take all necessary steps for securing the effective transfer thereof to or in A&L and, pending such transfer, ALGT shall hold any such property in trust for A&L.