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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 22 December 2014 - onwards
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Schedule 4, Part 3 Foreign property Etc.: Interim period (paras. 8-9)

Section 54

Foreign assets and liabilities of Commission

8.

(1) In this paragraph -

"foreign asset" means any property or rights which would be transferred by Part 2 of this Schedule were the property or rights not governed by foreign law;

"foreign liability" means any liability which would be transferred by Part 2 of this Schedule were the liability not governed by foreign law.

(2) The Commission shall during the interim period do everything that it is reasonably practicable to do to give effect to the transfer of all foreign assets to the Agency.

(3) If the transfer of any foreign asset is not reasonably practicable the Commission shall dispose of the foreign asset and pay the proceeds to the Agency for payment into the Ireland Strategic Investment Fund.

(4) The Commission shall during the interim period do everything that it is reasonably practicable to do to transfer all foreign liabilities to the Agency.

(5) If the transfer of any foreign liability is not reasonably practicable, th

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