(1) All property (other than land), including choses-in-action, that immediately before the coming into operation of this section was enjoyed by or on behalf of Forfás in connection with the functions referred to in section 34(1)(de) (inserted by section 30 of the Industrial Development (Forfás Dissolution) Act 2014) shall, on the coming into operation of this section, stand vested in the Authority without any transfer or assignment.

(2) Every chose-in-action vested in the Authority by virtue of subsection (1) may, on and from the coming into operation of this section, be sued on, recovered or enforced by the Authority in its own name, and it shall not be necessary for the Authority to give notice to any person bound by the chose-in-action of the vesting effected by that subsection.