25. On the appointed date-
| (a) all the movable and immovable property of the Ceylon. Transport Board on the day Immediately prior to the appointed date (including money in the funds of that Board), shall vest in, and be the property of, the Central Board ; |
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| (b) all the contracts and agreements of the Ceylon Transport Board en the day immediately prior to the appointed date shall be deemed to be the contracts and agreements of the Central Board, and all subsisting rights. liabilities and obligations of the Ceylon Transport Board under such contracts and agreements shall be deemed to the rights, liabilities and obligations of the Central Board ; |
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| (c) the Provident Fund established and maintained by the Ceylon Transport Board for Its officers and servants under the repealed Motor Transport Act, No. 48 of 1957, shall be deemed to be a provident fund established and maintained by the Central Board, for the officers and servants of the Central Board and the "Regional Transport Boards under this Law ; |
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| (d) any action, application or appeal instituted or made by or against the Ceylon Transport Board in any court or tribunal and pending on the day immediately prior to the appointed date shall be deemed to be an action, application or appeal instituted or made by or against the Central Board ; |
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| (e) any decree or award entered or made by a court or tribunal in any action, application or appeal instituted or made by or against the Ceylon Transport Board and remaining unsatisfied in whole or in part on the day immediately prior to the appointed date shall be deemed to be a decree or award in favour of or against the Central Board, as the case may be, and may, subject to the provisions of the Civil Procedure Code, or any other enactment, In relation to the execution of a decree or award, be enforced by or against the Central Board. |
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Sri Lanka Consolidated Acts