21.
| (1) On and after the appointed date, all property, both movable and immovable, belonging to the Ceylon freight Bureau, whether held in the name of the said Ceylon freight Bureau or in the name or names of any person or persons in trust for the said Ceylon Freight Bureau, shall be and the same is hereby vested in the Central Freight Bureau of Sri Lanka constituted under this Law, and the said properly both movable and immovable, shall be held by the said Central Freight Bureau of Sri Lanka for the purposes of this Law. |
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| (2) All debts and liabilities of the Ceylon Freight Bureau; referred to in subsection (1), existing on the appointed date shall be paid by the Central Freight Bureau of Sri Lanka constituted under this Law, and all debts due to, and subscriptions, contributions and all sums of money payable by way of penalties to the said Ceylon Freight Bureau on such date, shall be paid to the said Central Freight Bureau of Sri Lanka. |
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Sri Lanka Consolidated Acts