Section 4

Every property vested by virtue of subsection (1) in the

Corporation shall be so vested in the Corporation for the like title, estate or interest and on the like tenure as the same was vested or held immediately before the vesting date.

Every chose-in-action vested by virtue of subsection (1) in the Corporation may, after the vesting date, be sued on, recovered or enforced by the Corporation in its own name and it shall not be necessary for the Corporation or the Government to give notice to the person bound by the chose-in-action of the vesting effected by subsection (1).

8

Every right and liability vested by virtue of subsection (1)

in the Corporation may, on and after the vesting date, be sued on, recovered or enforced by or against the Corporation in its own name and it shall not be necessary for the Corporation or the Government to give notice to the person whose right or liability is affected by the vesting under subsection (1).

Any pending legal proceedings by or against the

Government which relate to any property, right or liability transferred to and vested in the Corporation by virtue of subsection (1) may, on and after the vesting date, be continued by or against the Corporation.

In the case of rights and liabilities arising under any loans which is vested in the Corporation on the vesting date, the

Corporation may enter into such arrangements or agreements over such rights and liabilities with the Government or any third party.

On and after the vesting date, any agreement relating to any property, rights and liabilities transferred to and vested in the

Corporation under subsection (1) to which the Government was a party immediately before the vesting date, whether in writing or not, and whether or not of such a nature that rights and liabilities thereunder could be assigned by the Government, shall have effect as if the Corporation has been a party to the agreement.

Common seal