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5.—(1) All the property, rights and liabilities to which the National Lottery Commission is entitled or subject immediately before the merger date become on that date the property, rights and liabilities of the Gambling Commission.
(2) Paragraph (1) has effect in relation to property, rights and liabilities—
(a)whether or not they would otherwise be capable of being transferred;
(b)without any instrument or other formality being required; and
(c)despite any provision (of whatever nature) which would otherwise prevent, penalise or restrict the transfer of the property, rights or liabilities.
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