Cap. 643 Art. 44Transfer of assets and liabilities of the Malta Resources Authority. Act No. XVI of 2024.

(1) With effect from the date of the coming into force of the

Climate Action Act, 2024:

(a) all assets and rights of whatever nature of the

Malta Resources Authority relating to climate whether existing in Malta or outside Malta, including but not limited to all real or other rights under any contract, all monies due by any person to the Malta Resources Authority, and all shares, stocks or other interests of, or in any other bodies shall be deemed to be assets of the Authority;

(b) all obligations and liabilities of the Malta Resources Authority relating to climate shall by virtue of this Act be deemed to be obligations and liabilities of the Authority without the need of any formalities other than this Act.

(2) With effect from the date of the coming into force of this Act:

(a) all assets and rights of whatever nature of the Malta Resources Authority relating to minerals and resources whether existing in Malta or outside Malta, including but not limited to all real or other rights under any contract, all monies due by any person to the Malta Resources Authority, and all shares, stocks or other interests of, or in any other bodies shall be deemed to be assets of the Environment and Resources Authority;

(b) all obligations and liabilities of the Malta Resources Authority relating to minerals and resources shall by virtue of this Act be deemed to be obligations and liabilities of the Environment and Resources Authority without the need of any formalities other than this Act.

(3) With effect from the date of the coming into force of this Act, all actions pending before any court, tribunal, arbitral tribunal or any other adjudicating body, instituted by, or against the Malta Resources Authority with regard to the subsidiary legislation listed in the Second Schedule shall be continued by, or against the Climate Action Authority:

Provided that with effect from the date of the coming into force of this Act, all actions pending before any court, tribunal, arbitral tribunal or any other adjudicating body, instituted by, or against the Malta Resources Authority relating to climate but not related to minerals and resources shall be continued by, or against the the Climate Action Authority.