Application

This Act shall apply to and have effect only on the International Undertaking of the Transferor and shall not apply to or have any effect on any business carried on by the other divisions of the Transferor. The Bank International Undertaking (The Belize Bank Limited International 12 SCHEDULE THE BANK INTERNATIONAL UNDERTAKING (THE BELIZE BANK LIMITED INTERNATIONAL OPERATIONS) ACT Property and Rights Transferred [Section 3] PART 1 Assets ALL assets of the banking business carried on by the International Undertaking of the Transferor which at the close of business on the Appointed Day are recorded in the books and files of the International Undertaking of the Transferor or have been so allocated to the said banking business and otherwise which have been agreed to be transferred from the Transferor to the Transferee under and in pursuance of the Agreement (but not including those assets which are expressly excluded by the terms of the Agreement) which assets include all the estate, right, title and interest and responsibilities of the Transferor in and to all property of the Transferor recorded in the books and files of the said International Undertaking or so allocated of every kind and description, both real and personal, movable and immovable, corporeal and incorporeal as at the close of business on the Appointed Day. The Bank International Undertaking (The Belize Bank Limited International Operations) Vesting 13 PART 2 Liabilities and Obligations Assumed ALL debts, liabilities, contractual engagements and obligations whatsoever (actual, contingent or otherwise) of the Transferor as at the close of business on the Appointed Day recorded on the books and files of the International Undertaking of the Transferor or have been allocated to the said International Undertaking and otherwise which have been agreed to be assumed by the Transferee from the Transferor under and in pursuance of the Agreement and comprising debts, liabilities, contractual engagements and obligations to customers and others incurred by the Transferor in carrying on the International Undertaking but excluding those liabilities which are expressly excluded by the terms of the Agreement.