Regulation 13

the asset vests in the receiving Town Council without the need for any further conveyance, transfer, assignment or assurance;

the liability becomes the liability of the receiving Town Council;

all legal or other proceedings relating to that asset or liability that are pending immediately before the transfer date by or against the transferring Town Council are taken to be proceedings pending by or against the receiving Town Council;

any legal or other proceedings relating to that asset or liability which could have been started immediately before the transfer date by or against the transferring Town Council may be started by or against the receiving Town Council;

a judgment or an order of a court or other tribunal obtained before the transfer date by or against the transferring Town Council relating to that asset or liability becomes enforceable by or against the receiving Town Council;

any document in any legal or other proceedings relating to that asset or liability that has been served on or by the transferring Town Council before the transfer date is taken, where appropriate, to have been served on or by the receiving Town Council;

any act, matter or thing done or omitted to be done before the transfer date in relation to that asset or liability by, to or in respect of the transferring Town Council is (to the extent to which that act, matter or thing has any force or effect) taken to have been done or omitted to be done by, to or in respect of the receiving Town Council;

a reference to the transferring Town Council in any written law, any instrument made under any written law, any agreement or any document of any kind is taken to be or includes (to the extent to which the reference relates to that asset or liability) a reference to the receiving Town Council;

any agreement relating to that asset or liability and to which the transferring Town Council is a party becomes enforceable by or against the receiving Town Council.

all security deposits deposited with the transferring Town Council in relation to any asset or liability transferred by the operation of sub‑paragraph (1) and not forfeited before the transfer date;

the benefits of all indemnities, guarantees or warranties given to the transferring Town Council in relation to any asset or liability transferred by the operation of sub‑paragraph (1) and not discharged before the transfer date.

constitute a breach or contravention of, or default under, any written law, or any agreement, or otherwise a civil wrong or criminal wrong;

constitute a breach of any duty of confidence (whether arising by contract, in equity, by custom, or in any other way);

constitute a breach of any contractual provision prohibiting, restricting or regulating the assignment or transfer of assets or liabilities or the disclosure of any information;

terminate any agreement or obligation, or fulfil any condition that allows a person to terminate or otherwise releases a person from any agreement or obligation, or give rise to any right or remedy in respect of any agreement or obligation;

frustrate any contract or cause any contract or instrument to be void or otherwise unenforceable;

release a surety or other obligor or obligee wholly or in part from an obligation; or

constitute an event of breach of, or default under, any contract or other instrument.