3 Transfer of property to Secretary of the Department of Overseas Trade.U.K.
All property real or personal all rights and obligations and all debts or liabilities which at the commencement of this Act are the property rights obligations debts or liabilities of the Secretary of State for the Colonies in pursuance of the Acts of 1902 and 1916 or of the Imperial Mineral Resources Bureau under the said Charter shall become the property rights obligations debts or liabilities of the responsible Minister and the responsible Minister for the time being shall have any powers necessary to enable him to hold any such property.