Cap. 510 Art. 60Transfer of assets to the Authority.

(1)(a) The property and undertakings owned by the Consumer and Competition Department, Malta Standards Authority and Malta National Laboratory Company Limited and used by any one of them, immediately before the date of the coming into force of this Part of this Act, or owned by the Government, and used by any of the said Department, Authority or Company for the operation of any of the functions which by this Act are being transferred to or vested in the Authority shall, on the date aforesaid, by virtue of this Act and without further assurance, be transferred to and be vested in the Authority under the same title by which they were used or held by the said Department, Authority or Company immediately before the said date.

(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 this Part, were owned by the Government and used by it for the exercise of any of the functions which by this Act are being transferred to or vested in the Authority shall, with effect from such day as may be specified in any such order, and by virtue of this Act and without any further assurance, be transferred to and vested in the Authority under the same title by which they were held by the Government before such day.

(2) The transfer and vesting aforesaid shall extend to the whole of such property and undertakings and, without prejudice to the generality of the aforesaid, shall include all plant, equipment, apparatus, instruments, vehicles, crafts, buildings, structures, installations, land, 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.