SCHEDULE 3 - Transitional and SCHEDULE 3 - Transitional and savings provisions

Section 55

1.   Accounts

(1) Any account maintained in the name of the former Authority immediately before the commencement day is, on that day, taken to be an account maintained in the name of the Marine and Safety Authority.

(2) Any funds in an account referredto in subclause (1) are, on the commencement day, taken to be funds of the Marine and Safety Authority.

2.   Money claims

(1) Any money, debt or claim payable by, due from or recoverable against the former Authority immediately before the commencement day is, on that day, payable by, due from or recoverable against the Marine and Safety Authority.

(2) Any money, debt or claim payable to, due to or recoverable by the former Authority immediately before the commencement day is, on that day, payable to, due to or recoverable by the Marine and Safety Authority.

3.   Proceedings

A judgment by order of a court obtained by or against the former Authority before the commencement day is, on or after that day, enforceable by or against the Marine and Safety Authority.

4.   Documents

A document addressed to the former Authority before the commencement day may, on or after that day, be served on the Marine and Safety Authority.

5.   Contracts

Any contract made by the former Authority before the transfer day and not performed or discharged before that day is, on that day, taken to have been made by the Marine and Safety Authority.

6.   Actions

Any act done or omitted to be done before the commencement day by, to or in respect of the former Authority is taken to have been done or omitted to be done by, to or in respect of the Marine and Safety Authority.