PART III

Dissolution of Forbairt and An Bord Tráchtála and Transitional Provisions

25. —(1) Forbairt and An Bord Tráchtála shall, on the establishment day, become and be dissolved.

(2) References in any Act of the Oireachtas (other than the Metrology Act, 1996 ) passed before the establishment day or in any instrument made before that day under an Act of the Oireachtas (other than the Metrology Act, 1996 ) to Forbairt or An Bord Tráchtála shall, on and after that day, be construed as references to the Agency.

26. —(1) The following shall be and hereby are transferred to the Agency on the establishment day—

(a) all property and rights relating to such property held or enjoyed immediately before that day by Forbairt (other than in respect of the Legal Metrology Service) and An Bord Tráchtála or any trustee or agent thereof acting on its behalf, and

(b) all liabilities incurred before that day by Forbairt (other than in respect of the Legal Metrology Service) or An Bord Tráchtála or any trustee or agent thereof acting on its behalf that had not been discharged before that day,

and, accordingly, without any further conveyance, transfer or assignment—

(i) the said property, real and personal, shall, on that day, vest in the Agency for all the estate, term or interest for which, immediately before that day, it was so vested in Forbairt (other than in respect of the Legal Metrology Service) or An Bord Tráchtála, as the case may be, but subject to all trusts and equities affecting the property subsisting and capable of being performed,

(ii) the said rights shall, as on and from that day, be enjoyed by the Agency, and

(iii) the said liabilities shall, as on and from that day, be liabilities of the Agency.

(2) All moneys, stocks, shares and securities transferred to the Agency by this section that, on the establishment day, are standing in the name of Forbairt (other than in respect of the Legal Metrology Service) or An Bord Tráchtála or any said trustee or agent thereof shall, upon the request of the Agency, be transferred into its name.

(3) Every right and liability transferred to the Agency by this section may, on or after the establishment day, be sued on, recovered or enforced by or against the Agency in its own name and it shall not be necessary for the Agency to give notice to the person whose right or liability is transferred by this section of the transfer.

27. —(1) The following shall be and hereby are transferred to the NSAI on the establishment day—

(a) all property and rights relating to such property held or enjoyed immediately before that day by Forbairt relating to the Legal Metrology Service or any trustee or agent thereof acting on its behalf, and

(b) all liabilities incurred before that day by Forbairt relating to the Legal Metrology Service or any trustee or agent thereof acting on its behalf that had not been discharged before that day,

and, accordingly, without any further conveyance, transfer or assignment—

(i) the said property, real and personal, shall, on that day, vest in the NSAI for all the estate, term or interest for which, immediately before that day, it was so vested in Forbairt but subject to all trusts and equities affecting the property subsisting and capable of being performed,

(ii) the said rights shall, as on and from that day, be enjoyed by the NSAI, and

(iii) the said liabilities shall, as on and from that day, be liabilities of the NSAI.

(2) All moneys, stocks, shares and securities transferred to the NSAI by this section that, on the establishment day, are standing in the name of Forbairt relating to the Legal Metrology Service or any said trustee or agent thereof shall, upon the request of the NSAI, be transferred into its name.

(3) Every right and liability transferred to the NSAI by this section may, on or after the establishment day, be sued on, recovered or enforced by or against the NSAI in its own name and it shall not be necessary for the NSAI to give notice to the person whose right or liability is transferred by this section of the transfer.

28. —(1) Every bond, guarantee or other security of a continuing nature made or given by or on behalf of Forbairt (other than in respect of the Legal Metrology Service) or An Bord Tráchtála to any person or given by any person to and accepted by or on behalf of Forbairt or An Bord Tráchtála and every contract or agreement made between Forbairt (other than in respect of the Legal Metrology Service) or An Bord Tráchtála, or any trustee or agent thereof acting on its behalf, and any other person and in force but not fully executed and completed immediately before the establishment day shall continue in force on or after that day and shall be construed and have effect as if the name of the Agency was substituted therein for that of Forbairt (other than in respect of the Legal Metrology Service) or An Bord Tráchtála or, as appropriate, its said trustee or agent and shall be enforceable by or against the Agency.

(2) References to Forbairt (other than in respect of the Legal Metrology Service) or An Bord Tráchtála, or any trustee or agent thereof acting on its behalf, contained immediately before the establishment day in the memorandum and articles of association of any company shall, on and after that day, be construed as references to the Agency.

29. —Every bond, guarantee or other security of a continuing nature made or given by or on behalf of Forbairt relating to the Legal Metrology Service to any person or given by any person to and accepted by or on behalf of Forbairt relating to the Legal Metrology Service and every contract or agreement made between Forbairt relating to the Legal Metrology Service or any trustee or agent thereof acting on its behalf, and any other person and in force but not fully executed and completed immediately before the establishment day shall continue in force on or after that day and shall be construed and have effect as if the name of the NSAI was substituted therein for that of Forbairt or, as appropriate, its said trustee or agent and shall be enforceable by or against the NSAI.

30. —Nothing in this Act shall affect the validity of any act that was done before the establishment day by or on behalf of Forbairt or An Bord Tráchtála and every such act shall, if and in so far as it was operative immediately before that day, have effect on and after that day as if it had been done by or on behalf of the Agency, or the NSAI, as the case may be.

31. —Where, immediately before the establishment day, any legal proceedings are pending in any court or tribunal and Forbairt or An Bord Tráchtála, or any trustee or agent thereof acting on its behalf, is a party to the proceedings, the name of the Agency or the NSAI, as the case may be, shall be substituted for that of Forbairt and the name of the Agency shall be substituted therein for that of An Bord Tráchtála or, as appropriate, the said trustee or agent thereof and the proceedings shall not abate by reason of such substitution.

32. —(1) Final accounts of Forbairt and An Bord Tráchtála shall be drawn up by the Agency as soon as may be after the establishment day in such form as may be approved of by the Minister, in respect of the accounting year or part of an accounting year of Forbairt and An Bord Tráchtála ending immediately before the establishment day.

(2) Accounts prepared pursuant to this section shall be submitted as soon as may be by the Agency to the Comptroller and Auditor General for audit, and, immediately after the audit, a copy of the income and expenditure account and of the balance sheet and of such other (if any) of the accounts as the Minister may direct and a copy of the Comptroller and Auditor General's report on the accounts shall be presented to the Minister who shall cause copies thereof to be laid before each House of the Oireachtas.