Clause 9

the Light Dues Board and the Light Dues Fund established under the Light Dues Ordinance, 1957 (Ord. 6 of 1957), shall cease to exist;

all sums and other assets standing to the credit of the Light Dues Fund established under the said Ordinance shall forthwith be paid to the account of or be transferred to the credit of the Light Dues Fund established under section 20 of this Act;

all the assets and movable and immovable property of every description and all the powers, rights and privileges in connection therewith or appertaining thereto which immediately before the date of the coming into operation of this Act were vested in the Light Dues Board established under the said Ordinance shall forthwith be transferred to and vest in the Board without further assurance and freed and discharged from any trust whatsoever, but subject nevertheless to the provisions of this Act; and

all liabilities and obligations of the Light Dues Board established under the said Ordinance which may have existed immediately prior to the date of the coming into operation of this Act shall be transferred to and vest in the Board.