art 3 Transfer of property, rights and liabilities
On the transfer date all the property, rights and liabilities of the old trust, not referred to in article 2 above, shall be transferred to the trust, including without limitation — (a) The duty to prepare the outstanding accounts of the old trust and to perform all statutory duties relating to those accounts; (b) The trust property of the old trust listed in schedule 1. (c) The charities of the old trust listed in schedule 2.