66DTransfer subject to encumbrances

66D Transfer subject to encumbrances Unless the Transfer Order otherwise provides, if under the Transfer Order property and rights vest in the transferee transport body or liabilities become liabilities of the transferee transport body— (a) the property and rights so vested are subject to the encumbrances (if any) to which they were subject immediately before so vesting; and (b) the rights to which the transferor transport body was entitled in respect of those liabilities immediately before they ceased to be liabilities of the transferor transport body vest in the transferee transport body. S. 66E inserted by No. 3/2017 s. 3.