Chapter 3

Transfer of Functions, etc.

Transfer of functions to Agency.

37 .— (1) The administration and business in connection with the exercise, performance or execution of any of the functions transferred by subsection (2) are transferred to the Agency on the establishment day.

(2) The functions vested in the Director by or under the existing enactments are transferred to the Agency on the establishment day.

(3) References to the Director and the office of the Director contained in any Act (within the meaning of the Interpretation Act 2005 ) or instrument (including a licence or certificate granted, nomination made or consent or authorisation given thereunder) relating to any functions transferred by subsection (2) shall, on and after the establishment day, be read as references to the Agency.

(4) Anything commenced before the establishment day by or under the authority of the Director may, in so far as it relates to functions transferred by subsection (2) to the Agency, be carried on or completed on or after that day by the Agency.

(5) Where immediately before the establishment day, any legal proceedings are pending to which the Director is a party or the prosecutor and the proceedings have reference to any functions transferred to the Agency by subsection (2), the name of the Agency shall, in so far as the proceedings relate to functions transferred by subsection (2), be substituted in those proceedings for that of the Director or added in those proceedings and those proceedings shall not abate by reason of such substitution.

Preservation of existing contracts.

38 .— (1) Every bond, guarantee or other security of a continuing nature made or given by the Director to any person or by any person to the Director that is in force immediately before the establishment day, and every contract or agreement in writing made between the Director and any person that is in force but is not fully executed and completed immediately before the establishment day shall continue in force on and after that day and shall be construed and have effect as if the name of the Agency was substituted therein for the Director.

(2) Every document (including any certificate, licence, nomination, consent or authorisation) granted or made by the Director in the exercise of a function transferred by section 37 that is in force immediately before the establishment day shall continue in force on and after that day as if it had been granted or made by the Agency and shall be construed and have effect accordingly.

Transfer of assets and liabilities.

39 .— (1) With effect from the establishment day the following are transferred to the Agency:

(a) all rights and property and rights relating to such property held or enjoyed immediately before that day by the Director; and

(b) all liabilities incurred before that day by the Director which 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 vested in the Director, but subject to all trusts and equities affecting the property and capable of being performed,

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

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

(2) All monies, stocks, shares and securities transferred to the Agency by this section which, immediately before the establishment day, are in the name of the Director, 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 of the transfer to the person whose right or liability is transferred by this section.

(4) The Agency shall not, without the consent of the Minister, dispose of any part of any land or any interest therein transferred to or vested in the Agency under this section.

References in certain other enactments to Director or Office of Director.

40 .— (1) The Acts of the Oireachtas specified in Part 1 of Schedule 3 are amended as indicated in that Schedule.

(2) The instruments specified in Part 2 of Schedule 3 are amended as indicated in that Schedule.