254Vesting of property, rights and liabilities

254 Vesting of property, rights and liabilities If property, rights or liabilities are allocated by Order under section 248 from one agency to another agency, on the effective date of the Order— (a) all the property and rights specified in the Order of the transferring agency vest in the receiving agency; and (b) all the liabilities specified in the Order of the transferring agency become liabilities of the receiving agency; and (c) the receiving agency becomes the successor in law of the transferring agency in respect of that property and those rights and liabilities. S. 255 inserted by No. 52/2004 s. 51.