Transfer of property, rights, liabilities and obligations5.

(1)

On 4th October 2006 there shall be transferred to and vested in the new institution all property, rights, liabilities and obligations to which immediately before 4th October 2006 the governing body or the University were entitled or subject.

(2)

The vesting of property, rights, liabilities and obligations under this article shall have effect notwithstanding–

(a)

anything to the contrary in, or

(b)

any condition relating to the transfer of such property, rights, liabilities or obligations contained in,

any enactment, rule of law or obligation.

(3)

References to the governing body or University, The Governors of The Robert Gordon Institute of Technology, The Robert Gordon Institute of Technology or any like reference–

(a)

in any agreement, deed, bond, instrument or notice or other writing;

(b)

in any action or proceeding pending or existing at 4th October 2006 by or against the governing body or University or The Governors of The Robert Gordon Institute of Technology or The Robert Gordon Institute of Technology before any court or other tribunal; and

(c)

in any document whatsoever relating to or affecting any property, right, liability, or obligation of the governing body or University or The Governors of The Robert Gordon Institute of Technology or The Robert Gordon Institute of Technology which vests by virtue of this Article in the governing body of the University;

shall be taken on or after 4th October 2006 as referring to the new institution.