Amendment status not verified — confirm the current text below against the official source.
xlii (i) all properties, movable and immovable, and assets vesting in the dissolved Authority shall stand transferred to and vest in the Authority so established (hereinafter in this section referred to as the “successor Authority”) , (ii) all rights, liabilities and obligations of the dissolved Authority ( including those arising under any agreement or contract) shall be deemed to be the rights, liabilities and obligations of the successor Authority, (iii) all sums due to the dissolved Authority shall be recoverable by the successor Authority, and for the purpose of such recovery, the successor Authority shall be competent to take such measures which were competent for the dissolved Authority to take subject to all limitations, conditions, rights or interests of any person subsisting immediately before the said date, (iv) all contracts made with and all instruments executed on behalf of the dissolved Authority shall be deemed to have been made with or by or on behalf of the successor Authority and shall have effect accordingly, (v) all proceedings and matters pending before the dissolved Authority or any officer of the dissolved Authority immediately before the said date shall be deemed to be transferred to the successor Authority or to such officer as the successor Authority may direct, (vi) in all suits and legal proceedings pending on the said date in or to which the dissolved Authority was a party, the xliii successor Authority shall be deemed to be substituted therefor, (vii) all officers and employees of the dissolved Authority shall be the officers and employees of the successor Authority, (viii) any reference to the dissolved Authority in any instrument shall, unless a different intention appears, be construed as a reference to the successor Authority.