Property, Contracts, Etc.
s 67
(1) Where Compensa- (a) any undertakings, installations or other pro-fransferred perty, wnich were the undertakings, installa- ings. tions, or other property of the body corporate constituted under the repealed Sabah Electri- sabah city Board Enactment 1981, (nereinatter Teferred to in this Part at "body corporate"), are transferred to the Board; and (b) any stock and shares, which were issued to th Chief Minister, incorporatec by the Chief sabal Minister (Incorporation) Ordinance, to hold for the purposes of the Government of the State Finaace, inre trorated ed to th Minister of G6157. Finance (Incorporation) Ordinance 1957, to hold for the purposes of the Federal Government, upon, by and between the Federal Government an‹ he Government of the State of Sabah [Pt. VII, S. 67-70] (2) For the purposes of subsection (1), any undertakings, installations or other property, shall mean, to include, all plants, lands, works and other property, movable or immovable, assets, powers, rights and privileges held or enjoyed in connection therewith or appertaining thereto. Existing . 68. All deeds, bonds, agreements, instruments and contracts, etc. working arrangements, subsisting immediately before the commencement of this Act, affecting any of the transferred undertakings, installations or other property of the body corporate, shall be of as full force and effect against or in favour of the Board, and enforceable as fully and effectually as if, instead of the body corporate, the Board had been named therein or had been a party thereto. Pending proceedings.