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(1)On the appointed day the College shall be dissolved and the Charters of the College shall be revoked.
(2)The Institution shall notify the registrar of the effect of section 19 (Use of certain names) of this Act within 14 days beginning with the day on which this Act is passed.
(3)In subsection (2) above, “the registrar” has the meaning given in section 744 of the Companies Act 1985 (c. 6).
Such of the following as immediately before the appointed day belonged to or were vested in or exercisable by the College—
(a)all property, real and personal, of every description (including things in action), and
(b)all rights, privileges and functions,
shall on the appointed day, without any conveyance, transfer, assignment or other instrument, be transferred to and vested in, or be exercisable by, the Institution for all the estate and interest therein of the College.
All debts and obligations of the College shall, on the appointed day, be transferred and attached to the Institution and shall thereafter be discharged and satisfied by the Institution.
Such of the following as immediately before the appointed day belonged to or were existing or pending in favour of or against the College—
(a)all agreements, appointments, awards, contracts, deeds and other instruments, and
(b)all actions and proceedings and causes of action,
shall on and after the appointed day continue and may be carried into effect, enforced and prosecuted by, or in favour of, or against the Institution to the same extent and in like manner as if the Institution instead of the College had been party to, or interested in, the same respectively.
(1)Any scheme, will, deed or other instrument, whether made or executed before, on or after the appointed day, which contains any bequest, gift or trust or other benefit in favour of or connected with the College shall, on or after the appointed day, be read and have effect as if the Institution were named therein instead of the College.
(2)The Institution shall administer that bequest, gift, trust or other benefit as nearly as may be for the purposes intended in the original scheme, will, deed or other instrument conferring such benefit and pursuant to the purposes of the College as those purposes were defined before its dissolution.
(3)Without prejudice to subsections (1) and (2) above, any persons who, immediately before the appointed day, had power, for all or any purposes relating to—
(a)hospital services (including research), or
(b)any other part of the health service associated with hospitals,
to assist, support or otherwise benefit the College shall, on and from that day, have power to assist, support or otherwise benefit the Institution as if it were a hospital or an institution within the health service associated with such a hospital for which those persons were appointed.
(4)In this section “the health service” and “hospital” have the same meanings as in the National Health Service Act 1977 (c. 49).
Any power or right of the College or of any officer or employee of the College to appoint or nominate a member of—
(a)any education authority, or
(b)the governing body of any educational, charitable or other institution,
shall on the appointed day be transferred to, and may be exercised by, the Institution or by the officer or employee of the Institution who in the opinion of the Council most nearly performs the functions formerly performed by the former officer or employee in question.
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