Transfer of assets

(1) Upon the commencement of this Act, (a) all lands of the Crown within the boundaries of the ports in this Act including the bed and shores immediately the commencement of this Act in the Government of Belize, other than those exempted by the Minister by Order published in the Gazette, as required for use by the Customs and Excise Department are hereby vested in the Authority; (b) all lights, buoys, beacons within the boundaries of the said ports are hereby transferred to the Authority; (c) all warehouses, buildings, boats, machinery, plant, tools and other property which immediately before the commencement of this Act were the property of the Government of Belize, other than those exempted by the Minister by Order published in the Gazette, as required for use by the Customs and Excise Department are transferred to the (2) All rights, privileges and advantages and all the obligations to which, immediately before the commencement of this Act, the Government was entitled to or subject to, as the case may be, are hereby transferred and conferred or imposed on the Authority for the purposes of this Act. 61 (3) A reference in any deed, contract, bond or security or other document subsisting immediately the commencement of this Act against or in favour of the Government shall have full force and effect against or in favour of the Authority and be enforceable as fully and effectually as if, instead of the Government or any person acting on behalf thereof, the Authority had been named therein and had been a party thereto.