All property (including rights) and liabilities of the Authority are transferred to, and vest in, the Scottish Ministers.

Anything done by, on behalf of or in relation to the Authority is to be treated as having instead been done by, on behalf of or in relation to the Scottish Ministers.

Any reference to the Authority in a contract, deed or other document giving rise to a legal obligation, is to be read as a reference to the Scottish Ministers.

Any legal proceedings raised by, or against, the Authority may be continued by, or against, the Scottish Ministers.