2. There are transferred to the Technology Strategy Board all property, rights, liabilities and obligations held, acquired or incurred by the Secretary of State on or before 7th June 2008—
(a)arising under or in relation to the grants awarded by the Secretary of State(1) under section 5(1) of the Science and Technology Act 1965(2) which are specified in the Schedule; and
(b)otherwise arising in connection with the award or administration of any of the grants referred to in paragraph (a),
whether imposed by or under any statutory provision, in relation to any civil proceedings, or otherwise.
Such grants were originally awarded by the Secretary of State for Trade and Industry but, with effect from 12th December 2007, all property, rights, liabilities and obligations arising under or in relation to these grants were transferred to the Secretary of State for Business, Enterprise and Regulatory Reform by virtue of S.I. 2007/3224, articles 11 and 12(3) and (5).
Section 5(1) was amended by articles 2(2)(a) and 3 of S.I. 1992/1296, article 3(3)(a) of, and paragraph 1(2) of the Schedule to, S.I. 1995/2985 and article 2(1) and (2) of S.I. 1999/2785.