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Transfer of land and other property.
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11.— (1) On the transfer day, all land that immediately before that day was vested in the Board and all rights, powers and privileges relating to or connected with the land shall, without any conveyance or assignment, stand vested in the relevant subsidiary for all the estate or interest therein that immediately before the transfer day was vested in the Board, but subject to all trusts and equities affecting the land continuing to subsist and capable of being performed.
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(3) Every chose-in-action vested in the relevant subsidiary by virtue of subsection (2) may, on and after the transfer day, be sued on, recovered or enforced by the relevant subsidiary in its own name, and it shall not be necessary for the relevant subsidiary, or the Board, to give notice to any person bound by the chose-in-action of the vesting effected by that subsection.
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