(1) All rights and liabilities of the Employment Appeals Tribunal subsisting immediately before the dissolution day and arising by virtue of any contract or commitment (expressed or implied) shall on that day stand transferred to the Labour Court.

(2) Every right and liability transferred by subsection (1) to the Labour Court may, on and after the dissolution day, be sued on, recovered or enforced by or against the Labour Court in its own name, and it shall not be necessary for the Labour Court, or the Employment Appeals Tribunal, to give notice to the person whose right or liability is transferred by that subsection of such transfer.