Vesting of rights to the Bank of Nova Scotia

(1) Subject to the Agreement, at the close of business on the Appointed Day, the International Undertaking of the Transferor shall by virtue of this Act vest absolutely in the Transferee without any further assurance, and upon such vesting all existing assets, liabilities, rights, obligations and other property which by the Agreement have been agreed to be transferred shall vest in the Transferee, and where any real property and any security has, by virtue of this Act, vested in the Transferee, the Registrar General, the Registrar of Lands, the Registrar of Companies, the Registrar of International The Bank International Undertaking (The Belize Bank Limited International 6 Business Companies and any other relevant authority shall take due notice thereof and shall, subject to applicable law, make such annotations on the records as may be necessary and issue all such certificates or documents as may be required to perfect the title of the Transferee to such real property or security. (2) The transfer or vesting of any part of the International Undertaking of the Transferor effected by this Act shall not, (a) operate as a breach of covenant or condition against alienation; (b) give rise to forfeiture; or (c) invalidate or discharge any contract or security.