S.L. 217.11 Art. 14Transfer of assets.

(1)(a) The property and undertakings owned by the

Government and used by it, immediately before the date of the coming into force of these regulations, and used by it for the operation of any of the functions which by these regulations are being transferred to or vested in the Agency shall, on the aforesaid date, by virtue of these regulations and without further assurance, be transferred to and be vested in the Agency under the same title by which they were held by the Government immediately before the said date. The provisions of this sub-regulation shall not apply to immovable property.

(b) The immovable assets from time to time specified in an order made by the President of Malta and published in the Gazette (hereinafter referred to as "the immovable assets") being immovable assets which, immediately before the coming into force of these regulations, where owned by the Government and used by it for the operation of any of the functions which by these regulations are being transferred to or vested in the Agency shall, with effect from such day as may be specified in any such order, and by virtue of these regulations and without any further assurance, be transferred to and vested in the Agency under the same title by which they were held by the Government before such day.

(2) The aforesaid transfer and vesting of assets shall extend to the whole of such property and undertakings and, without prejudice to the generality of the aforesaid, shall include all plant, equipment, apparata, instruments, vehicles, craft, buildings, structures, installations, land, roads, works, stocks and other property, movable or immovable, assets, powers, rights and privileges and all things necessary or ancillary thereto which are held or enjoyed in connection therewith or appertaining thereto, as well as all obligations affecting or relating to any of the aforesaid property or undertakings or other thing included therein as aforesaid.