1(1)Subject to sub-paragraph (3) of this paragraph, the right to any money owed to the Commission by any of the bodies listed in the foregoing Parts of this Schedule shall be transferred to the Railways Board, the Docks Board, the British Waterways Board and the Holding Company respectively.
(2)Subject to sub-paragraph (3) of this paragraph, the liability represented by any money owed by the Commission to any of the bodies listed in the foregoing Parts of this Schedule shall be transferred to the Railways Board, the Docks Board, the British Waterways Board and the Holding Company respectively.
(3)This paragraph shall not apply to money owed in the ordinary course of trading.
2Subject to the following provisions of this Act, any rights or liabilities of the Commission regarding the securities of any of the bodies listed in the foregoing Parts of this Schedule shall be transferred to the Railways Board, the Docks Board, the British Waterways Board and the Holding Company respectively.