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(1)Where functions are transferred from one local authority to another local authority by this Act or by virtue of any provision of this Act, all property and liabilities so far as held or incurred by or on behalf of the transferor authority for the purposes of the functions so transferred shall, subject to the provisions of this Act, be transferred to and vest in the transferee authority and be held or treated as incurred by or on behalf of the transferee authority for the same purposes, and subject to the same trusts, and, in the case of property subject to the same debts and liabilities, as they were held or incurred by or on behalf of the transferor authority.
(2)The provisions set out in the Tenth Schedule to this Act (being provisions with respect to the construction of Acts and documents and other matters in case of transfer of functions) shall have effect for the purposes of functions so transferred.
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