Clause 34

Upon the coming into operation of this Act such of the lands, buildings and other property, movable and immovable of the Economic Development Board constituted under the provisions of the Economic Development Board Ordinance, 1961 (Ord. 21 of 1961), including all such assets, powers, rights, interests and privileges as well as such debts, liabilities and obligations in connection therewith or appertaining thereto as may be specified by the Minister by notification in the Gazette shall be deemed to have been transferred to and vested in the Corporation without further assurance.

Any proceeding or cause of action pending or existing immediately prior to the date of the coming into operation of this Act by or against the Economic Development Board in respect of the movable or immovable property transferred to the Corporation under this section may be continued and enforced by or against the Corporation as it might have been by or against the Economic Development Board had this Act not come into operation.