5Powers of Company in respect of matters arising under this Act

5 Powers of Company in respect of matters arising under this Act

(1)  This section applies to –

(a) debts, money, claims, securities and charges relating to assets that vest in the Company under this Act; and

(b) liabilities that become liabilities of the Company under this Act.

(2)  On and after the incorporation day, the Company may –

(a) in addition to pursuing any other remedies or exercising any other powers that may be available to it, pursue the same remedies, for the recovery of debts, money and claims to which this section applies that are payable to, or recoverable by, the TRB and for the prosecution of proceedings relating to any such debts, money or claims, as the TRB might have pursued but for the enactment of this Act; and

(b) enforce and realise any security or charge to which this section applies and which was in existence immediately before the incorporation day in favour of the TRB, and exercise any powers conferred under the security or charge on the TRB as if it were a security or charge in favour of the Company.