—(1) As from the appointed day, such movable and immovable property vested in the Government as may be determined by the Minister for Finance and used or managed by the Ministry of Home Affairs and such assets, interests, rights, privileges, liabilities and obligations of the Government as may be determined by the Minister for Finance relating to the Ministry of Home Affairs shall be transferred to and shall vest in the Authority without further assurance, act or deed.
(2) If any question arises as to whether any particular property, asset, interest, right, privilege, liability or obligation has been transferred to or vested in the Authority under subsection (1), a certificate under the hand of the Minister for Finance shall be conclusive evidence that the property, asset, interest, right, privilege, liability or obligation was or was not so transferred or vested.
(3) Any immovable property to be transferred to and vested in the Authority under subsection (1) shall be held by the Authority upon such tenure and subject to such terms and conditions as the President may determine.
(4) Every agreement relating to any of the transferred properties to which the Government was a party immediately before the appointed day, whether or not of such nature that the rights and liabilities thereunder could be assigned, shall have effect as from that day as if —
the Authority had been a party to such an agreement; and
for any reference to the Government there were substituted in respect of anything to be done on or after the appointed day a reference to the Authority.