On the appointed day the undertaking shall, by virtue of this Act and without further assurance, be transferred to, and vest in, A/S to the intent that A/S shall succeed to the undertaking as if in all respects A/S were the same person in law as plc.

Where the transfer or vesting of any property or liability forming part of the undertaking is governed by the law of any country or territory outside the United Kingdom, plc shall, if A/S so requires, take all necessary steps for securing that the transfer and vesting of the property or liability to and in A/S is fully effective under the law of that country or territory.